Sunday, May 16, 2010

Greek debt crisis caused by foreign banks

First Greece hires banks to help it hide debt, then, when it is caught, it threatens to sue its enablers. Only in Greece can a drunk sue his bartender. 

From the AP:
In Athens, Greek Prime Minister George Papandreou said he is not ruling out taking legal action against U.S. investment banks for their role in creating the spiraling Greek debt crisis.
"I wouldn't rule out" going after the U.S. banks, he said in a CNN interview aired Sunday.

They also blame bank economists for telling the truth about Greek default risk:

The government and many Greeks have blamed international banks for fanning the flames of the debt crisis with comments about Greece's likely default.

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