Quote:
Originally Posted by nomadking
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.
39 consecutive years of budget deficits and they wonder why they are in trouble.  |
Why they have a case to answer? Well if, as you said yourself, they helped the Greeks cook the books then I'd have thought that's obvious. The only question is to whom they they have a case to answer. Maybe to those countries and institutions who've been bailing out the Greeks and lost billions as a result of a false representation of Greece's economy?...
Suing isn't difficult, doing it successfully is much harder. We all know the Greeks have been acting irresponsibly for decades and must have been complicit in any deception so it'd be ironic (and IMHO highly unlikely) for the Greeks to successfully go down that route. Maybe less so for major German banks.