Greece Debt, Creative Accounting?

13 11 2011

Is the news about Greece being suddenly broke true or is there a scheme to use fictional debt to wipe out workers’ gains and steal a lot of money?

This blog, ce399,  has an intersting article (plus others)

Professor Georganta told the Financial Times on Friday: “I am still convinced the methodology was incorrect and the deficit number had no scientific foundation . . . it should have been revised downwards.”

Striking members of Elstat’s union blocked access to its building on Friday in support of Prof Georganta’s view. One union member said: “We face another round of salary cuts and maybe sackings because of what happened with Eurostat and the deficit figures.”


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French President Nicolas Sarkozy slams Wall Street

19 05 2010

[March 31]

…The French leader began his keynote address stressing the important role of the US in the global financial crisis: “A few hundred irresponsible hotheads did mad things on the stock market, with derivatives, with other people’s money. Do you think we can defend capitalism … when there is so much injustice? I don’t think so because it is impossible to defend.”….

 from:  http://english.pravda.ru/world/europe/31-03-2010/112793-sarkozy-0

and here’s the whole speech – http://www.worldleaders.columbia.edu/events/president-nicolas-sarkozy-france


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Greece to probe U.S. banks

19 05 2010

Well, hell — at least someone is doing it! – F.C.

(Reuters) – Greece may investigate U.S. investment banks and their role in the run-up to the Greek debt crisis which has shaken faith in euro zone economies, Prime Minister George Papandreou said in comments broadcast on Sunday.

Wall Street and major banks around the world are attracting scrutiny from regulators who are looking at transactions that occurred in the run-up to the subprime mortgage meltdown and financial crisis….(more)

http://www.reuters.com/article/idUSTRE64F0Y020100516


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