"Goldman deal above board, Greece says; Athens says details of debt swaps will be sent to EU" by Elena Becatoros, Associated Press | February 19, 2010
ATHENS - Greece says a complex debt deal with investment bank Goldman Sachs that has come under scrutiny by the European Union was above board, and will be explained in a letter being sent by the finance minister to the European Union.
The EU’s top economy official, Olli Rehn, gave the Greek government until today to supply answers on how it used transactions known as currency swaps and how that affected the country’s debt and deficit figures.
Athens insists the 2001 Goldman Sachs deal was legal and complied with EU regulations at the time....
Unethical, but legal.
The EU can take Greece to court, under threat of daily fines, to change its statistics methods. It is already threatening legal action for Greece’s failure to report accurate public finance figures last year.
Oh, that should help the debt situation.
Aren't you GLAD YOU JOINED the E.U., Greeks?
French Finance Minister Christine Lagarde said Eurostat was looking into “how a merchant bank, in this case Goldman Sachs, helped Greece structure, postpone a certain number of debt repayments.’’
How much you want to bet that look is cursory and never amounts to anything?
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Also see: Slow Saturday Special: Greecing Up the E.U.
Greecing the Skids of the New World Order
Crisis in Greece Threatens Global Government
Breaking News: Goldman Sachs Screwed Greece
Money Monday: Goldman Sachs' Gold Mine
Boston Globe Sides With Goldman Sachs Over Globalists
