[nomadking]

Originally Posted by Osem

Goldman Sachs to be sued?

Somehow I doubt it but IMHO they do have a case to answer.

http://www.independent.co.uk/news/wo...-10381926.html

Why? It was the Greek government that actually took out the loans AND spent them. Goldman Sachs just provided a method of hiding them in the accounts. The excessive spending and tax evasion etc of the Greeks was started decades ago, BEFORE joining the Euro. It was already heavily in debt, which is why Goldman Sachs got involved. The Greeks had been fiddling their economic statistics before and LONG AFTER joining the Euro.

In 1974–80 the government had budget deficits below 3% of GDP, and in 1981–2013 deficits were above 3% of GDP.

39 consecutive years of budget deficits and they wonder why they are in trouble.