How Goldman Sachs Helped Greece to Mask its True Debt
http://www.spiegel.de/international/...676634,00.html
"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."
...
"...Goldman Sachs charged a hefty commission for the deal and sold the swaps on to a Greek bank in 2005."
Another day another dollar for Goldman. Trouble is, I can't help feeling in one way or another, that it's my dollar.
http://www.spiegel.de/international/...676634,00.html
"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."
...
"...Goldman Sachs charged a hefty commission for the deal and sold the swaps on to a Greek bank in 2005."
Another day another dollar for Goldman. Trouble is, I can't help feeling in one way or another, that it's my dollar.
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