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  • Goldman Caught Using European Loophole To Help Massively Understate Greek Deficit

    02/09/2010 8:10:19 AM PST · by FromLori · 51 replies · 979+ views
    The Business Insider ^ | 2/9/10 | Vincent Fernando
    This looks pretty bad for both Goldman and Greece, as if things could look worse. According to a scathing piece in Der Spiegel, European statisticians in Luxembourg have had a very difficult time getting proper Greek economic and financial data for years. Worse yet, Goldman Sachs appears to have been helping Greece take advantage of a European regulatory loophole in order to understate its deficits: Der Spiegel: