Slimebeast on 06 May 2010
| yanamaster said: Well it must be said that what's happening to the euro and to greece is the fault of Goldman Sachs as they were the company to approach Greece in 2000 offering to touch up their general fiscal results so that greece could enter the Euro zone more quickly. This procedure was carried out for a couple years and resembled what Enron did with their mark to market accounting scheme, only the other way around. Instead of adding in profits that may have not ever be realized Greece kept pushing some losses to future years so that they would be spotless in the short term. The situation would ridiculously easy to handle if it were not for the Euro. Under normal circumstances Greece would have just devaluated their currency by some 40-50% and everything would be okay. Now they have to take the long hard way around the subject...all thanks to their impatience. |
You gotta be kidding. Every country knows that there are tricks to borrow money even if you can't afford it and fix the numbers to fool the public. It's Greece' fault they got into this situation and no one else's.
Actually Greece should be punished for fooling the whole EU by fixing and hiding their deficit. Now the crysis is perhaps punishment enough for them, and I have sympath with the innocent Greeks, but let's not blame others for a corrupt society's faults.
