Katie Martin ‏@katie_martin_fx

GoldmanApologistsFinancialTimes

You have the utter gaul, you and your newspaper,to quote from an organization that colluded to hide the real extent of the indebtedness of the Greek government ? And then to trivialize the fight of the Greek government and it’s people against the predations of the whole of the floundering, in fact the utter failure of the Neo-Liberal Project, in it’s political expression of the E.U., by calling it melodrama! As if your readership didn’t have access to other sources like this:

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

Sub-headline:

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.

And this :

Greece’s debt managers agreed a huge deal with the savvy bankers of US investment bank Goldman Sachs at the start of 2002. The deal involved so-called cross-currency swaps in which government debt issued in dollars and yen was swapped for euro debt for a certain period — to be exchanged back into the original currencies at a later date.

StephenKMackSD

About stephenkmacksd

Rootless cosmopolitan,down at heels intellectual;would be writer.
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