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14 February 2010
THE E.U: Goldman Sachs Role In The Greek Debt Crisis.
NYTIMES/ ANALYSIS/ Creative deals by Wall Street and especially, Goldman Sachs, helped Greece hide billions in debt from its books. Throughout Euroland, banking firms provided upfront cash for future payments that were undisclosed and mislead investors and regulators. Greece traded away its rights to airport fees and lottery proceeds for years. Greece now owes $300 billion to banks and its inability to lower its debt is roiling the EU.