Nick Dunbar, author of ’The Devil’s Derivatives’, reveals how the country turned to investment bank Goldman Sachs for help getting around the deficit rules.
In his report for Newsnight, some of those who did the deal, talk publicly for the first time.
Goldman Sachs has admitted that it is under investigation for helping Greece to hide its vast debts.
The controversial Wall Street bank - nicknamed the Vampire Squid because its tentacles stretch far and wide - is accused of having profiteered out of a complex currency deal that helped Greece massage its finances.
In a regulatory filing in the U.S., Goldman disclosed that is ’subject to a number of investigations and reviews by various governmental and regulatory authorities in connection with its financial transactions with Greece.
The European Commission has already been probing the bank’s relationship with Athens. It is unclear from the disclosure, how many other countries might be looking into its dealings with the Mediterranean state.
The Wall Street giant is claimed to have received as much as £192m in fees by entering a complex currency transaction in 2001 that helped Athens borrow cash without putting it on the books as a loan.
The so-called ’swap’ deal helped Greece meet eurozone limits on government borrowing.
Germany’s Merkel shrugs aside new book about communist-era past, says she never hid anything 2013 05 25
Chancellor Angela Merkel has shrugged aside a book that suggests she may have been closer to East Germany’s communist system than previously thought, saying she’s never hidden anything.
The 58-year-old Merkel grew up in East Germany and entered politics as communism crumbled in 1989. It’s long been known that, like many, she joined the communist youth organization. She has said she ...
‘Lack of public debate on immigration caused Stockholm riots’ 2013 05 25
Mishra Mrutyuanjai raises some points that we discussed with Mikael Jalving about in our Red Ice Radio program, in January earlier this year.
Sweden should put its political correctness aside and start an open debate on immigration as it’s the only way to avoid a repeat of the Stockholm riots, Mishra Mrutyuanjai, Swedish Democrats movement member, told RT.
Stockholm is reeling as ...
Stockholm riots spread west on sixth night 2013 05 25
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Stockholm experienced a sixth straight night of riots early Saturday, with cars torched in several immigrant-dominated suburbs, as Britain and the United States warned against travelling to the hotspots.
Nearly a week of unrest, which spread briefly Friday night to the medium-sized city of Oerebro 160 kilometers (100 miles) west of Stockholm, have put Sweden’s reputation as an oasis ...
Marc Abramsson from the National Democratic Party comment on the Husby Riots in Stockholm 2013 05 25
Sweden could be paying a tough price for its policies on immigrants and multiculturalism. A Stockholm suburb erupted into violence for a few hours, as crowds of angry, masked youths from migrant families burned cars, smashed windows and hurled stones at police officers.
What’s believed to have fueled the riot was the death of a 69-year-old man, allegedly shot by ...
‘They don’t want to integrate’: Fifth night of youth rioting rocks Stockholm 2013 05 25
Youth gang riots in the Swedish capital Stockholm have entered fifth straight night. Hundreds of mostly immigrant teenagers tore through the suburbs, smashing windows and burning cars in the country’s worst outbreak of violence in years.
At least six vehicles were torched throughout the city late on Thursday while the police called for reinforcements from other Swedish cities bracing for further ...
Germany’s Merkel shrugs aside new book about communist-era past, says she never hid anything
‘Lack of public debate on immigration caused Stockholm riots’
Stockholm riots spread west on sixth night
Marc Abramsson from the National Democratic Party comment on the Husby Riots in Stockholm
‘They don’t want to integrate’: Fifth night of youth rioting rocks Stockholm