Thursday, 18 February 2010

Greco-German spat getting nasty

Latest news in whole Greek budget deficit saga...

Germany has just realised that Greece cheated when it applied to join the Euro. They got the investment bank Goldman Sachs to swap their debt for other financial paper so it would look like they were less indebted. Chancellor Angela Merkel said, “It’s a scandal if it turned out that the same banks that brought us to the brink of the abyss helped fake the statistics [...] Greece falsified statistics for years.”

Angela Merkel: Sold a pig in a poke and now hopping mad!

Meanwhile the Greeks have pressed the Big Red Button and mentioned the war!

"How does Germany have the cheek to denounce us over our finances when it has still not paid compensation for Greece's war victims? There are still Greeks weeping for their lost brothers," said Margaritis Tzimas, a former member of the Greek government.

Ouch! That's you told, Germany.

So much for the one big happy EU-family. Supposedly these people are all citizens of the same super-state (pace Lisbon Treaty) but the Euro is breaking up before our very eyes.

Bloomberg
Reuters