A now historical article from February 2010 details how Goldman Sachs helped to facilitate the debt disaster and coming default of Greece, by propping a up a slothful, complacent and corrupt elite for a decade before the collapse, through shady debt deals and derivative shenenigans.
Greek finance minister George Alogoskoufis was one of the few to call the fraud, saying the 2001 deal would “saddle the government with big payments to Goldman until 2019”. He resigned in protest in 2005.
One of the protagonists of the 2010 “advice” was GS chairman-in-waiting Gary D. Cohn, who suggested a new plan to hide the extent of the debt crisis, again earning huge fees for Goldman Sachs. The erstwhile deal must have been manna from heaven for the Greek establishment, and through lack of real reform in the Greek system of cronyism and corruption, it effectively collapsed in the run-up to the 2010 debt crisis. GS are currently earning fees for a shady self-engineered bailout of their erstwhile fraud. These fraudulently earned fees now effectively guaranteed and paid by the European taxpayer.
When will the perpetrators, including Goldman and Cohn, be prosecuted for defrauding European governments and taxpayers?