Former Greek PM G-Pap's 89 Year Old Mother Said To Have $700 Million In Swiss Bank Account

Tyler Durden's picture

There was a time when Swiss bank secrecy was the passion of every tax-challenged oligarch in the world. Then things changed, Obama made it s badge of honor to rat out anyone you know who has a bank account in Zurich or Geneva, lists of previously ultra-secret account holders started "leaking" and from an asset, Swiss bank accounts promptly became a liability to everyone involved. Such as the matriarch of the legendary Papandreou family, former Pasok Greek PM G-Pap's mother, Margaret, also wife of former PM Andreas, who according to The Telegraph has been revealed as having a €550 million ($700 million) Swiss bank account (she will hardly be happy to learn that Credit Suisse just instituted a negative interest on CHF deposits) in the Geneva branch of HSBC. Obviously lots of hard work by M-Pap went into building up that particular nest egg.

M-Pap has quite an soap opera past of her own:

Margaret Papandreou is the second wife of the late Greek Prime Minister Andreas Papandreou.


Margaret Papandreou was born Margaret Chant, in the US, in 1923 and grew up in Elmhurst Illinois. She met the future Prime Minister in 1948 at the University of Minnesota where he was a professor and she was a 25-year old journalism student. A relationship developed between the two despite the fact that Papandreou was still married to his first wife. Eventually, Margaret also married someone else. That marriage ended in divorce as did Papandreou's first marriage and the two of them were married to each other in 1951. The marriage produced four children.


In 1963, Margaret Papandreou followed Andreas to Greece. Her husband became involved in politics as an MP in the Centre Union, a political party founded by George Papandreou, his father. Margaret Papandreou was accused early in her husband's political career of being Bulgarian, a race not very popular with the average Greek.


In 1967 a military Junta overthrew the democratic government of Greece and established a dictatorship. Andreas and Margaret Papandreou were exiled first to Sweden, then to Canada where they stayed until the restoration of democracy in 1974. At that time, Andreas Papandreou returned to Greece to form his own political party - PASOK - breaking with his late father's former political allies. In 1981, he was elected Prime Minister and Margaret became the first lady of Greece. In that capacity she sought to reform much of the social and political life of the average Greek woman which brought her praise from some quarters and stinging criticism from others.


Margaret Papandreou's days as the first lady of Greece came to an abrupt halt when her husband met Olympic Airlines stewardess, Dimitra Liani in 1989. The aged PM divorced Margaret to make the young stewardess his third wife.

Sarcasm aside, it is apparent first it was years of looting governing by husband Andreas, followed by years of looting governing by son George, that is among the chief reasons why Greece is now in an economic and monetary singularity, with the unemployment rate rising by 1% per month. But at least once the time to follow through on that self-imposed exile by G-Pap and family, he will not be at a loss how to fund his remaining days. What will also not be lost is the irony that after taking power in 2009, his government announced that the country's financial situation was far more dire than originally thought, largely due to tax evasion by Greek citizens. Such as himself it appears. What is the message here is what we have been saying for years: it is not austerity that is the primary cause of misery for the Greeks, although Greek politicians sure enjoy laying the blame for everything on belt-tightening. It is the outright theft and plunder by those who are supposed to be in charge of fixing Greece that is the reason why now Greece, and soon everyone else, has become such an economic basket case.

From the Telegraph:

 Margaret Papandreou, whose son George served as the country's prime minister during the height of the Eurozone crisis, is said to be on the "Lagarde list" of Greek citizens with fortunes hidden in Switzerland.


The list of alleged tax evaders, named after Christine Lagarde, the head International Monetary Fund (IMF), has caused deep resentment as Greece struggles with austerity.


Mrs Papandreou, whose late husband was also a prime minister, denied the allegations reported in two Greek newspapers yesterday.


"Why such lies? Why such attacks? Perhaps because my family never served this country’s interest groups," she said in a statement.

No: they merely served their own selfish interests, at the expense of the general Greek population.

Mr Papandreou, who stood down as prime minister in 2011 but remains a member of parliament, said the stories were "rumours without facts" and were part of a backlash against his anti-corruption battles while in office.


After taking power in 2009, his government announced that the country's financial situation was far more dire than originally thought, largely due to tax evasion by Greek citizens.


Mrs Papandreou's name reportedly surfaced in a report made by police to members of parliament last month.


The "Lagarde list" was provided to Greece by the French government while Mrs Lagarde was still finance minister in Nicolas Sarkozy's government.

Not even the Onion could make up the utterly bizarre tragicomedy that the sinking European continent has become. Sadly, this is merely a blueprint for what is coming everywhere else to the 'developed' (and developing) world.

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doomandbloom's picture

Stop or my mom will Shoot!

GetZeeGold's picture



I wouldn't advise just pisses the zombies off more.

francis_sawyer's picture

When you make $88/hr. on the computer good things happen...

a growing concern's picture

If I had $88 for every hour I've spent dicking around on ZH, I could buy Canada.

goldfish1's picture

$700 Million only?

quel surprise

francis_sawyer's picture

If you were Obama you could BLAME Canada...

EnslavethechildrenforBen's picture

President Bush stole so much money that he went and bought an entire foreign country

TruthInSunshine's picture

Dee everyone?  See Greeks?

This is what happens when the banksters own your politicians, via their families, bribes, outright graft, blackmail, etc, (i.e. Deep Capture). You'll never be free nor will you ever be free of being abused, raped, pillaged & bocicafubarsnafu'd.

caconhma's picture

G-Paps family deserves every penny. They were/are the best friends of the world Zionist Banking Mafia and Israel. So, they were richly rewarded. What are few billion dollars printed for such good friends?

I would not be surprised if the G-Paps family net is well in excess of few billion dollars. Certainly, the bogus Forbes list of billionaires did not mentioned G-Paps or Rothschilds or Rockefellers or Wuborgs, etc, The Forbes list is for “little people”.

gmrpeabody's picture

I wouldn't be a bit surprised if 89 year old Mom doesn't even know she has 700 million....

Her good son took over as executor of her finances years ago, you know, paying her bills and making an occasional investment and such. All her needs being delivered in plain paper boxes at her doorstep for her. What a good son...

ACP's picture

I wonder if she has 7,000 pairs of shoes also?

monoloco's picture

If these sorry fucks gave half a shit about their country, they'd return some of the money they stole.

monoloco's picture

That's only the money in her Swiss account, I'm sure she's diversified.

BigJim's picture

I'm sure she earned every penny. And paid tax on it, too.

LetThemEatRand's picture

Thank goodness for the Productive Class.

knukles's picture

Gosh mommy!
Where'd you get all that money?
Why, I never....

Sudden Debt's picture

removeable dental works... the secret to great blowjobs...

IToldYouSo's picture

Sorry, had to down ya, cant get the image out of my head ..............................urrrrrrrrrgh yuck!

Sudden Debt's picture

You're not a religious man he?

Just lookup in the Bible why God invented the lightswitch...


knukles's picture


(sound of switch being thrown but no light shining...)

Looney's picture

ZIRP... NIRP... It's time to roll out the big bazooka - SRIRP (Square Root Interest Rate Policy)   ;-)


Looney's picture

Yes, she is single with shingles  ;-)

knukles's picture

She need the roof of her mouth fixed?

I am on to you's picture

Oh shes gota be,if one looks like" Reverend Henry Kane"from Poltergeist,you gota ask your self,What did Papa Androido drink, before he got into close encounter with that thing,ill suspect, she was in the botlle,and he forgot to spit it out!!

Ill suspect at blend of the good oll,CFR mixture,vintage 1600 and forgotten,well,of to Montevideo,allo allo!

old naughty's picture

Shoot, don't talk.

It's not enough to save the country anyeay.

schatzi's picture

I pray for the day we can round these shitbags up. All of them. From Germany to Greece.

gmrpeabody's picture

I was wondering who would scream for her head first..., usually somebody that knows the least.

knukles's picture

Where the fuck do the Yank politicians hide thier oddly acquired funds?

The Fed or a Fed member bank?
Oh, never mind....

gmrpeabody's picture

Oddly enough..., they don't even try to hide them. Why..., doesn't everybody make 200k profit from a 2k investment tip every now and then. It's all legal here.

knukles's picture

(moment of silence as light bulb goes on)


mvsjcl's picture

At a bank whose head has a secure phone line that runs up through the clouds.

Lebensphilosoph's picture

I pray for the day I can steal $700 million from you schmucks and get away with it.

GMadScientist's picture

You may have just determined the primary driver of your failure thus far.

overmedicatedundersexed's picture

thank goodness this wealth could never be obtained by our presidents..bill clinton now net worth over 90 million, obumba buying multi million estate in hawii.. bushs have multiple presidents all with multiple millions.on second thought never mind.

spankfish's picture

Got Baklava bitchez!

Joe Davola's picture

I wish, my great aunt would make that when we would gather at their house for New Years Day - mmmm, mmmm, mmmmmmmmmmmmm!

ziggy59's picture

Hmmmm... Maybe its me, but i dont think this woman made her money modeling.

JPM Hater001's picture

Modeling schmodeling...this happens all the time.  I found an old passport savings account from when I was a kid.  Interest compounding over the years and it turns out I'm a millionaire...

At her age it is a plausible story you know...

flapdoodle's picture

Clearly she accumulated $700m by being thrifty with young G-Pap's lunch money...

CH1's picture

Cattle futures!

Had to be!

ZeroHour's picture

I'll bet one dollar it was O.J. futures.   Selling 200 April 142's to be specific.

vato poco's picture

Aw, you know how moms are: always clipping coupons, shopping only on 'Super Seniors Discount Day!' adds up after awhile.

Cursive's picture

This should be interesting. I warming up my popcorn....

FubarNation's picture

And the people will just sit there and take it.  Well they would if it was America. 


Anyone know what time Hill People is on?

knukles's picture

Aren't they on Recess his week campaigning for contributions?

Oh, you mean those Hill People!