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(Image from article: "European Union Sets Deadline for Greece to Make Cuts")

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European Union Sets Deadline for Greece to Make Cuts

European Union Sets Deadline for Greece to Make Cuts

European finance ministers said in a statement that Greece must show by March 16 that it is on track to cut its deficit.

 

Greek Debt Crisis: Goldman Sachs Reportedly Helped Greece Dodge EU Deficit Rules

Goldman Sachs helped the Greek government to mask the true extent of its deficit with the help of a derivatives deal that legally circumvented the EU Maastricht deficit rules. At some point the so-called cross currency swaps will mature, and swell the country's already bloated deficit.

 

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