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Response to iandhr (Reply #5)

Thu Nov 8, 2012, 01:58 AM

10. Spiegel special report: How Goldman Sachs Helped Greece to Mask its True Debt



http://www.spiegel.de/international/europe/greek-debt-crisis-how-goldman-sachs-helped-greece-to-mask-its-true-debt-a-676634.html

How Goldman Sachs Helped Greece to Mask its True Debt

Goldman Sachs helped the Greek government to mask the true extent of its deficit with the help of a derivatives deal that legally circumvented the EU Maastricht deficit rules. At some point the so-called cross currency swaps will mature, and swell the country's already bloated deficit.

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http://www.nytimes.com/2010/02/14/business/global/14debt.html?pagewanted=all&_r=0

Wall St. Helped to Mask Debt Fueling Europe’s Crisis

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It had worked before. In 2001, just after Greece was admitted to Europe’s monetary union, Goldman helped the government quietly borrow billions, people familiar with the transaction said. That deal, hidden from public view because it was treated as a currency trade rather than a loan, helped Athens to meet Europe’s deficit rules while continuing to spend beyond its means.

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Arrow 13 replies Author Time Post
dipsydoodle Nov 2012 OP
iandhr Nov 2012 #1
sulphurdunn Nov 2012 #2
woo me with science Nov 2012 #8
Hoyt Nov 2012 #3
Dont call me Shirley Nov 2012 #4
iandhr Nov 2012 #5
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brentspeak Nov 2012 #10
coalition_unwilling Nov 2012 #13
blkmusclmachine Nov 2012 #6
DallasNE Nov 2012 #7
arikara Nov 2012 #9
mrf901 Nov 2012 #11
dipsydoodle Nov 2012 #12
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