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"This credit disguised as a swap didn't show up in the Greek debt statistics. Eurostat's reporting rules don't comprehensively record transactions involving fin
by arbitrage314 11y ago
"This credit disguised as a swap didn't show up in the Greek debt statistics. Eurostat's reporting rules don't comprehensively record transactions involving financial derivatives."
Sounds like Eurostat needs to hire some smarter people.
- makomk 11y agoThey almost certainly knew - it wasn't exactly a secret at the time - they just didn't care for political reasons. All the political momentum was for further European integration.
- stefantalpalaru 11y ago> All the political momentum was for further European integration. And for selling military equipment to Greece: http://www.theguardian.com/world/2012/apr/19/greece-military-spending-debt-crisis http://www.theguardian.com/world/2012/apr/19/greece-military...
- mjklin 11y agoI lived in the UK during 1996-97 and there were plenty of stories in the news about the "poorer" countries being allowed to join the EU. Greece being the chief among them. You're right, they knew but they didn't care.