(14.06.) European Central Bank Governing Council member Mario Draghi said he “knew nothing” about Greece using off-market swaps with Goldman Sachs Group Inc…
Greece hid 5.3 billion euros ($7.7 billion) of debt using currency swaps, the biggest of which were with Goldman Sachs, Eurostat, the European Union’s statistics office, said Nov. 15. Greece entered into a number of arrangements from 2001 through 2007 and their use, which it hadn’t previously reported as debt, helped push up borrowings, leading to the nation needing a bailout last year and triggering Europe’s debt crisis.