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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dirtyfiles's picture

Margaret Papendreou Frankenstein

lizzy36's picture

Please god, let my mom have a secret swiss account with $700m in it. PLEASE!!!!!!

GetZeeGold's picture


.....with sugar on it - The Corzines

GMadScientist's picture

Meet me half-way, steal the $700M.

Itch's picture

What, like her old tights weren't enough for you? This generation, so ungrateful.

sessinpo's picture

The 1%, in every country, in every economic system. You can buy the stories the politicians and media use to attack the 1%, but somehow they (the 1%) always exist and stay that way. At some point, you'll realize the politicians and media are playing everyone for fools. And the 1% will continue on.

No comment on the thought that this wealthy person has her assets outside of Greece to avoid local political taxation, regulation and corruption? The wealthy are the most upward financially mobile people and move their wealth around to their benefit.

I don't know if the story is true or how she got her wealth. At this point it is mute. The lesson here is whether you follow liberal socialist failed policies (like they are) or come to your senses. Go bankrupt Greece.

knukles's picture

The Pols and the Media Are the 1%

the not so mighty maximiza's picture

65 years ago she was a hottie, greeks love their blue eyed red heads....

UGrev's picture

@89 years old, why would anyone have more than $699.9 million in the bank. 

GMadScientist's picture

c) "I was just holding it for a friend."


Mercury's picture

Big government, big money. If you want to get rich in a land where the government dominates everything - get real close to the government.

Michelle Obama had a series of pretend jobs on her way to the White House, mostly at a Chicago hospital and in the $300k - $600k range. I bet this old lady's "career" didn't start out too differently. Remember, her money has been compounding for a long while and during a time when we actually had interest rates.

PaperBear's picture

Did she lawfully earn every penny of this $700 million ?

Rainman's picture

" Half of the Greek non-lawyer parliamentarians are in the Top 3 tax evading industries and nearly a super majority in the Top 4 evading industries ".

dirtyfiles's picture

Time for the Tinkoff Bank to become new trend.

PapSmear's picture

Austerity bitchez

Silverhog's picture

Google search of Margaret Papandreou naked does not pull up any images. Wonder why.

a growing concern's picture

That's a dangerous game you're playing...

GetZeeGold's picture



This is why I only use Yahoo.


Former Greek PM G-Pap's 89 Year Old Mother Said To Have $700 ... Google search of Margaret Papandreou naked does not pull up any images. Wonder why. Login or register to post comments; Mon, 12/03/2012 - 08:46 | 3029331 a growing concern. - Cached

GMadScientist's picture

a) Apply goggles.

b) Turn off safe-search. ;)

Essential Nexus's picture

No.  You typed it in wrong.  It's "crow with no feathers"

Tabarnaque's picture


This is what happens to those who, in the end, turn their back on the banking cartel. They are making an example out of Panpandreou to let all the other puppets of this world know what will happen to them if they turn their back on the cartel. Being swiftly removed wasn’t the end of his disgrace. This is the price Panpandreou will have to pay for having mentioned the word “Referendum” while the fascist banksters are pushing their authoritarian agenda over Europe. This being said, it doesn’t change anything about how corrupt the whole thing really is.



zilverreiger's picture

peck and feather this old hag

I hear the bad bad germans talk is quieting down bahaha eat crow goat fuckers

Volaille de Bresse's picture

I would do her... with Viagra and I'd have the lights turned off!

I mean 550 mil... I would get a half... Yum!


Seriously now : I betcha the Euro MSM wil not mention this info right? 

GMadScientist's picture

Bonus points if you can identify which hole you got.

knukles's picture





Baggers can't be choosers

GMadScientist's picture

A pragmatist; you'll go far, kid!

youngman's picture

At that age you might accidently make a new hole....

BandGap's picture

Best one yet.
Be like screwing a mummy.

falak pema's picture

well she is swiss like its cheese, if she wants to keep her money.

q99x2's picture

Likely target for funding the 10 billion bond purchase.

She resembles Darth Vader's boss.

I recommend arresting her and then to redistribute her stolen wealth to the citizens of Greece.

BandGap's picture

She looks like Fire Marshal Bill in drag.

Volaille de Bresse's picture

Mom "better call Saul!"

GMadScientist's picture

What's the Greek equivalent of a carwash?

GMadScientist's picture

That's one hard-working prostitute; and you called the Greek lazy!

ugmug's picture

Bank accounts have become the modern day Pyramids and all the politicians have kindly began the process of self-mummification so they can join all their money upon death.

Volaille de Bresse's picture

"Maggie'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"


Yeah I remember that broad. The Greek tabloids had pix of her doing "things" to a dog...


Oh Greece!

knukles's picture

Oh, KY

(jelly, not the state)

Oldrepublic's picture

In 1991 Netanyahu married his third wife, Sara Ben-Artzi, a psychology major working as a flight attendant, whom he met while traveling on an El Al flight from New York to Israel.

rwe2late's picture

 Theft, deceit, and secrecy are partners in crime.

Theft from the public is facilitated by secrecy from the public.

 "Private" federal banking, huge armies, and endless wars depend on secrecy, promote ever more secrecy, and hence ever more corruption.

That's why big banks and big military establishments are ALWAYS identified with plutocracy and autocracy.

And that's why they have always been identified as the institutions posing the BIGGEST threat to freedom.

dwayne elizando's picture

Looks to me like that family will be heading back to Canada!

dwayne elizando's picture

Looks to me like that family will be heading back to Canada!

Quinvarius's picture

I am sure she earned that money working nights or something.

supafuckinmingster's picture

She didn't earn that.....

overmedicatedundersexed's picture

"some people just need killin..." the motto for a new generation coming soon to America.

PrinceDraxx's picture

Bullshit, look at her, she earned every penny of it, the old fashioned way...oldest profession in the world.