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Thursday, February 11, 2010

Greece's cup of woe!

More skeletons out from the cupboard!! Goldman Sachs help Greece mask its actual debt. That's creative Accounting!

Greek Debt Crisis: How Goldman Sachs Helped Greece to Mask its True Debt - SPIEGEL ONLINE - News - I...
http://www.spiegel.de/international/euro...

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.

Posted by R at 6:49 AM

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