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:
Greece financial bailout, and the mood of other Euro users.
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Rauha
2010-05-04 , 17:56
Posts: 1,400 | Thanked: 3,751 times | Joined on Sep 2009 @ Arctic cold of northern .fi
#
22
To anybody accusing bankers on making risky loans to Greece:
1. Greece is a member of the European Monetary Union (euro)
2. Greece
had
good credit ratings.
1+2 meant that greek goverment bonds were guaranteed by ECB's (European Central Bank) repo window. This made Greek goverment bonds look like extremly safe investments.
1 and 2 were possible
only
because greek goverment kept forgering and engineering information about Greece's financial data.
Last edited by Rauha; 2010-05-04 at
17:59
. Reason: Typos
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