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It is not true that the Greek crisis happened in plain sight. The government actually cooked the books in order to comply with European lending regulations: htt
by timthelion 9y ago
It is not true that the Greek crisis happened in plain sight. The government actually cooked the books in order to comply with European lending regulations: https://en.wikipedia.org/wiki/Greek_government-debt_crisis#Data_credibility https://en.wikipedia.org/wiki/Greek_government-debt_crisis#D...
- woodandsteel 9y agoI don't buy that excuse. Everyone knew the Greeks are very corrupt, and one feature of corrupt governments everywhere is they fake their economic numbers. So the lenders really should have looked deeper. They didn't because they knew the EU would bail them out.
- timthelion 9y agoSome of the lenders actually helped them cook the books [1] . And I wasn't excusing the lenders, I was excusing the citizens. How are the citizens supposed to make informed decisions when they are getting fabricated numbers? [1] https://www.thenation.com/article/goldmans-greek-gambit/ https://www.thenation.com/article/goldmans-greek-gambit/