{"id":60902,"date":"2015-07-13T12:00:47","date_gmt":"2015-07-13T11:00:47","guid":{"rendered":"https:\/\/www.transcend.org\/tms\/?p=60902"},"modified":"2015-07-13T10:22:53","modified_gmt":"2015-07-13T09:22:53","slug":"who-is-to-blame-for-greek-crisis-goldman-sachs-takes-heat","status":"publish","type":"post","link":"https:\/\/www.transcend.org\/tms\/2015\/07\/who-is-to-blame-for-greek-crisis-goldman-sachs-takes-heat\/","title":{"rendered":"Who Is to Blame for Greek Crisis? Goldman Sachs Takes Heat"},"content":{"rendered":"

Goldman Sachs Banker, who got $12 million for getting Greece into the Eurozone by falsely extolling its financial capacity, could now see a lawsuit.<\/em><\/p>\n

\"greece<\/a><\/em><\/p>\n

The current financial crisis in\u00a0Greece traces back to\u00a02009 when Goldman Sachs financial architect Antigone Loudiadis made a deal allowing the country to\u00a0convert its huge debt into\u00a0euros and then restructure it at\u00a0more favorable rates.<\/p>\n

The Oxford-graduated managing director of\u00a0Goldman Sachs played a leading role in\u00a0setting up\u00a0complex derivative transactions to\u00a0claw back millions of\u00a0dollars Greece paid the bank to\u00a0ensure its position in\u00a0the euro market.<\/p>\n

In the awake of the upcoming deal<\/a> with\u00a0Greek creditors, the story came out, unveiling well-hidden reasons for\u00a0Greece’s deep, extended financial crisis.<\/p>\n

The actual amount of\u00a0Greek debt could have been revealed earlier if the investment bank did not use complex financial deals to\u00a0help Greece to\u00a0keep it in\u00a0the EU following\u00a0the strict Maastricht rules for\u00a0eurozone membership.<\/p>\n

Goldman Sachs allegedly made $500 million off\u00a0transactions widely known among\u00a0financial experts as “swaps,” for\u00a0which Antigone Loudiadis received $12 million in\u00a0a year. The Goldman’s former swaps designer Jaber George Jabbour, has written a formal letter to\u00a0the Greek government stating it could “right historical wrongs as\u00a0part of [its] plan to\u00a0reduce Greece’s debt”.<\/p>\n

Jabbour is known for\u00a0his successful assistance during\u00a0the economic crisis in\u00a0Portugal and his contribution in\u00a0the unmasking of\u00a0Goldman Sachs’ illegal actions toward\u00a0Libya’s government that brought about\u00a0billions of\u00a0dollars in\u00a0loss.<\/p>\n

Greece has a chance to\u00a0have some amount of\u00a0amends returned if the Goldman Sachs deals are executed only to\u00a0hide the country’s debts.<\/p>\n

Throughout the years of\u00a0Greece’s membership in\u00a0the Eurozone, billions of\u00a0easy credit became available for\u00a0Greeks which ended up\u00a0in default and the current financial crisis.<\/p>\n

Greece is facing expulsion from\u00a0the EU because of\u00a0a financial crisis and could be forever \u2018grateful’ to\u00a0Goldman Sachs, which swapped debt by\u00a0Greece in\u00a0dollars and yen for\u00a0euro using a mechanism\u00a0\u2014 historical exchange rate\u00a0\u2014 making the debt significantly smaller. The bank made 2% of\u00a0the debt disappear from\u00a0Greece’s bank accounts.<\/p>\n

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#JaberGeorgeJabbour<\/a>,who formerly DESIGNED #SWAPS<\/a> @ #GS<\/a> has OFFERED his #LEGALTESTIMONY<\/a> to HELP GET #GREECE<\/a>'S #MONEY<\/a> BACK from @GoldmanSachs<\/a>!<\/p>\n

— #Jesus2pointO (@FredOneonine) July 11, 2015<\/a><\/p><\/blockquote>\n