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Greece Finance Ministry Official Denies Budget Deficit Explosion, Says "Goldman Misunderstood Data"

Tyler Durden's picture


Goldman is not making any friends today (to be expected - Greece likely does not need Goldman's creative swap accounting anymore - after all, they (Greece, not Goldman) are bankrupt right? Why else would they need a bailout). Earlier we first reported about Goldman's novel read of the "revised" Greek budget. It appears Greece is not too happy with this and is already blaming Goldman for data misinterpretation.  We await Erik Nielsen's mea culpa.


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Wed, 02/10/2010 - 11:52 | Link to Comment Hephasteus
Hephasteus's picture

Goldman feigns ignorance again. I'm shocked.

Wed, 02/10/2010 - 11:53 | Link to Comment Nolsgrad
Nolsgrad's picture

I doubt the squid made a mistake.

Wed, 02/10/2010 - 12:00 | Link to Comment MarketTruth
MarketTruth's picture

Is this like rape dating where no means yes... or is it more along the lines of the classic "Baby, i promise of i won't _um in your mouth?" Either way, it is fraud and someone is not being honest.

<sarcasm> i know, i know, hard to believe that anyone in the financial sector would ever be dishonest. </sarcasm>


Wed, 02/10/2010 - 12:07 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

"<sarcasm> i know, i know, hard to believe that anyone in the financial sector would ever be dishonest. </sarcasm>"

How dare you? The Gods of finance are the of purity.

Wed, 02/10/2010 - 12:09 | Link to Comment Traianus Augustus
Traianus Augustus's picture

This is interesting banter between the victim and the criminal.  Greece is in a bad spot but the real victim may be Germany.  They are the ones that must decide whether or not to throw good money after bad.  Yesterday's trial balloon crashed and burned.   

Wed, 02/10/2010 - 12:15 | Link to Comment A Man without Q...
A Man without Qualities's picture

Now we are going to get the argument that the rest of the world doesn't understand the way the Greeks publish their data...

"Ok, so we show the credit here and then we hide the debit in this swap we have done with Goldman Sachs and we have a 3% deficit.  Now, it's 3pm, so let's all go home..."

Wed, 02/10/2010 - 12:20 | Link to Comment GoldmanStole (not verified)
Wed, 02/10/2010 - 12:47 | Link to Comment Missing_Link
Missing_Link's picture

Everyone, if you see a post from Cetin Hakimoglu aka "I am Ned," please mark it as junk immediately.  This guy is a spambot.

Wed, 02/10/2010 - 14:06 | Link to Comment Astute Investor
Astute Investor's picture

This maggot posted the same crap over on the Seeking Alpha website until he was excommunincated by TPTB.  Maybe Tyler and / or Marla will "unplug" this POS sooner rather than later.

Wed, 02/10/2010 - 12:21 | Link to Comment Postal
Postal's picture

"They misunderestimated me."

Wed, 02/10/2010 - 12:28 | Link to Comment Anonymous
Wed, 02/10/2010 - 17:24 | Link to Comment carbonmutant
carbonmutant's picture

"Greece has lots of stuff they can privatise..."

Like shipping companies?

Wed, 02/10/2010 - 12:29 | Link to Comment Going Down
Going Down's picture


"Hey, children, what's that sound; everybody look what's going down."


Video of Greek street protest.



Wed, 02/10/2010 - 12:30 | Link to Comment Anonymous
Wed, 02/10/2010 - 12:36 | Link to Comment Anonymous
Wed, 02/10/2010 - 12:41 | Link to Comment Jim in MN
Jim in MN's picture



"The Squid Ate My Budget Workpapers"




Wed, 02/10/2010 - 13:11 | Link to Comment pros
pros's picture

GS has a big bet on against Greece and the Euro.


Wed, 02/10/2010 - 13:19 | Link to Comment jmc8888
jmc8888's picture

It's also pretty obvious the CDS's can't pay off.

Um, uncle sam, you should be telling GS/JPM, etc if this fails, you ain't bailing them out. 

Oh who am I kidding, since when did the obvious course of action ever get done?  But perhaps they feel they'll make more on another area to cover those losses?

Wed, 02/10/2010 - 13:41 | Link to Comment Commander Cody
Commander Cody's picture

Throw Greece under the bus already.  I'm tired of this soap opera.

Wed, 02/10/2010 - 14:29 | Link to Comment Anonymous
Wed, 02/10/2010 - 15:03 | Link to Comment BlackBeard
BlackBeard's picture

Goldman...Greek style...yummay!

Mon, 04/19/2010 - 10:34 | Link to Comment Tom123456
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