Greek brought low with the help of all the usual suspects

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FT Alphaville » EU demands details on Greek swaps.

Whose sticky little fingers are all over mis-accounting in Greece? All the usual suspects, bar, it seems Barclays (what did they do to miss out?):

Wall Street’s role in the unfolding Greek debt crisis will be probed by Eurostat, the EU’s statistical office, which has requested information from Athens about currency swaps. The transactions, undertaken from 2001 to 2008, may have allowed the Greek government to conceal billions of euros of new debt from regulators. Goldman Sachs, Morgan Stanley, Deutsche Bank and other investment banks arranged complex transactions that enabled Athens to raise cash for budget spending without having to classify as public debt.

Time to call the banks to account then: is there any point pretending that they serve any social function under their existing management any more?

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