Some creative accounting from the Greece/Goldman side

Interesting article in businessinsider.com about Greece debt:”Greece Paid Goldman $300 Million To Help It Hide Its Ballooning Debts“

“In 2001, just after Greece was admitted to Europe’s monetary union, Goldman helped the government quietly borrow billions, people familiar with the transaction said. That deal, hidden from public view because it was treated as a currency trade rather than a loan, helped Athens to meet Europe’s deficit rules while continuing to spend beyond its means…”

I think the truth always lies somewhere in the middle. But there is no surprise for me that this could happend. This is capitalism with all bad and good apples.

UPDATE: France, Italy and who else … everyone is doing it  🙂