Greek woes focus attention on role of Eurostat

temple-of-poseidon-ruins-stone-columns-against-cloudy-sky

Politicians are aghast that Greece used cross-currency swaps with Goldman Sachs in 2001 to reduce its debt by several billion euros without disclosing it, but bankers and other observers are calling for more scrutiny of the part played by a third actor in the story: Eurostat, the Luxembourg-based agency responsible for member states’ economic and fiscal reports.

In 2008, the agency changed its rules to ensure Greek-style swaps would show up in the national debt, but it was acting 13 years after

To continue reading...

You must be signed in to use this feature.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: