EU Court to Hear ECB Greek-Swap File Suit as Euro Threatened - Businessweek
The files may help show the role EU authorities played in allowing Greece to mask its deficit for almost a decade before the nation’s troubled finances necessitated a 240 billion-euro ($300 billion) bailout and the biggest debt restructuring in history. [...]
“The documents may be proof that there was tacit collusion between the EU and Greece, that no action was taken,” said Georg Erber, a research associate at the DIW Berlin economic research institute. The lack of transparency has “weakened the credibility of the institutions, and the concern is that the same problem will repeat itself again and again.”
“The documents may be proof that there was tacit collusion between the EU and Greece, that no action was taken,” said Georg Erber, a research associate at the DIW Berlin economic research institute. The lack of transparency has “weakened the credibility of the institutions, and the concern is that the same problem will repeat itself again and again.”
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