newsitems Greek Economy and Goldman Sachs scandal: MEPs call to investigate 1999-2001 and earlier
Greek Economy and Goldman Sachs scandal: MEPs call to investigate 1999-2001 and earlier
Calls to fully investigate what really happened in the Greek Economy, including from 1999-2001 or even earlier (i.e. 1980ies' period) multiplied in EU Parliament, in addition to similar moves at the National Greek Parliament (Vouli) and elsewhere.
The issue was reportedly raised, this week at the Conference of (Political Groups' Presidents) in view of next week's EU Parliament's plenary session in Strasbourg, where both the February 11 Brussels' EU Summit and EU's draft Economic Policy guidelines at the "2020" Horizon are due to be discussed and Resolutions voted.
Already, the experienced President of EU Parliament's Liberal Group, former Prime Minister of Belgium, Guy Verhofstadt, stressed since February 24 in Brussels, that it's "Urgent" to "take the Initiative" "to determine what exactly happened in Greece" :
- "It is important" to know, the President of the Liberal Group stressed, pointing to the fact that " Investment banks – Goldman Sachs, Morgan Stanley, Deutsche Bank – are minimising what they have done in the Greece case", as he said, speaking in Brussels shortly after revelations at New York of the Goldman Sachs' intervention scandal, which reportedly disguissed the real situation of Greece's Debt back in 2000, when the conditions and the Timing of its entry into EuroZone was decided.
- "We cannot talk about remedies, about solutions, about reforms in the EU if first of all we do not know what really happened in the case of Greece in 2008 and 2009 and before that", he pointed out, without Time-limits for the periods to examine.
That's why "it is the task of (EU) Parliament to organise Hearings with the relevant Committee, as quickly as possible, so that we can hear all the parties concerned on this matter. ...., I think it is absolutely necessary", Verhofstadt proposed.
Because, "we received contradictory information : Greece says that it has given all the information to the EU ... At the same time, the European Commission and Eurostat are saying that they did not receive all the necessary information", he observed, apparently speaking about the 2000 affair.
Similar calls were made earlier at EU Parliament's February Session in Strasbourg also by various other MEPs, as, f.ex. Austrian Hans Peter Martin, famous from his anti-Corruption endeavours, during a Debate on EuroZone.
EU Parliament's officials said now that special Hearings would be hold before the end of February on who is really responsible for provoking and/or hiding the true facts about Greece's huge debt. Witnesses from EU Commission, EuroStat, Greek Government, Goldman Sachs, Experts, etc. are due to speak at a forthcoming Hearing by the Economic Committee chaired by Brittish Liberal MEP Mrs Sharon Bowles.
Notoriously, a deal was brokered in 1999-2000, between former Socialist Governments in several EU Member Countries and the PASOK Government in Greece, according to which it accepted Turkey's controversial EU bid at December 1999 Helsinki Summit and the unfreezing of EU Funds for Turkey despite the non-fulfillment of Human Rights and International Law conditions by Ankara, in exchange of Athen's entry into EuroZone sooner than normal and even without the due preparatory reforms.
Many believe that, in case of Enquiry, EU Parliament couldn't credibly refuse full Investigations extended to recent Decades, including the way Greece's entry into EuroZone was prepared, after the recent revelations of the Goldman Sachs' scandal, dated since 2000-2001, when the American agency covered up the Socialist Greek Government's debt, while experienced EU Commission vice-President Almunia's (in charge of EU Financial affairs for 4 Years) latest data clearly indicated that Greece's Debt originated many years ago in the Past (See relevant Publication with Almunia's replies to "EuroFora"s questions : .. ).
Particularly when even USA's Federal Reserve's head Bernanke is reportedly investigating the 2001 Goldman Sachs' scandal, and Greece's main opposition party, Nouvelle Democratie, of former MEP Antonis Samaras, officially asked to extend an Investigation of the National Parliament, initiated by the governing PASOK Majority, "up to 1981", (i.e. from the start of "PASOK'" party's former governments)...
Meanwhile, experienced EU Commissioner in charge of Markets, Michel Barnier, anounced also a parallel EU Investigation on some Funds' alleged interference in Financial Markets on speculative operations aiming to buy Greek State's bonds at higher than normal intrest rates on March 2010 : A practice strongly denounced also by France, Germany and other EuroZone Member Countries, because it might threaten to progressively undermine parts of the Euro area by exploiting a few weak points earlier provoked.
***
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*Paris/ACM/12 October 2008/-
When Europeans really feel a vital need to urgently launch common replies to challenging World Crisis, as the present Financial turmoil of Global Markets, they forge new decision-making tools and new dynamics :
The 1st in History EuroZone Heads of State and Government Summit, organized in Paris at the invitation of French President, and current EU chair, Nicolas Sarkozy, with the participation of 15 national leaders and EU institutions' chairmen, partly enlarged to British Prime Minister Gordon Brown, after a highly symbolic duo with German Chancelor Angie Merkel, at General De Gaulle's birth-village, 50 Years after he welcomed there former German chancellor Adenauer (1958-2008), may have not one, but two results :
- The first, and more urgent, was to launch an "ambitious", "coherent", and "efficient" common European movement, able to stimulate "solutions" to the World Economic Crisis, as Sarkozy anounced from the outset : State Garantees (to new Bank debts up to 5 years), fresh Capital input (f.ex. by buying shares), support to distressed banks, (while also restructuring them), incite the European Central Bank to facilitate commerial bills europe-wide, etc.
"Acting swiftly", from tomorrow, national measures will quantify all these targets, with coordinated actions from all EuroZone's Governments : France, Germany, Italy and others, decided to anounce, at the same time, such concrete measures, according to agreements that we have already made all together, revealed Sarkozy at the final Press Conference, flanked by EuroZone's chairmen : EuroGroup's Jean-Claude Juncker, and Central European Bank's Jean-Claude Truchet, as well as EU Commission's Jose Baroso, to solemnly stress the will to find common European solutions.
- "United and Determined, all EuroZone's Countries will act to prove that Citizens can Trust" the Economy, Sarkozy concluded. If we attract also all EU's 27 countries, Wednesday in Brussels, then we can coordinate action with our American Friends at a Global level, he anounced.
- "With this new Toolbox, we do not want to serve Bankers, but to work for Europe and its Citizens' interests", added Juncker.
- "For the moment, we want to act urgently to regulate the Crisis. But the time will come when those responsible for this, will have to account for their actions. Yes to real Capitalism, No to Speculators. Those who abused, will face sanctions, Sarkozy warned.
Need stimulates activities which create new organs, say biologists, and Gordon Brown, compatriot of Spencer, the famous bio-Historian, would certainly not deny that, after his surprise visit to EuroZone's Summit in Paris, which attracted him one hour more than scheduled...
Decisions include also the creation of a Crisis-management European mechanism, which "requires constant Monitoring", as well as strengthening Economic policy cooperation between EuroZone's countries.
Sarkozy will be judged by History not just by the immediate Economic results, expected at the end of this week's decision-making proces at National and EU level, but also by the more far-reaching consequences at the aftermath of this Historic EuroZone 1st Summit : Will it succeed to become a precursor forging a New era in European institution's revitalization ?
Significantly, the French President sat, during discussions, between German Chancelor Merkel, and British Prime Minister Brown, facing the chairmen of EuroGroup, Juncker, ECB : Truchet, and EU Commission, Baroso, with Prime Ministers of Spain, Zapatero (a hot partisan of EuroZone's Summit) at his right side, and Italy's Berlusconi, at his left, surrounded by Austrian, Belgian, Cyprus', Finland's, Greece's, and Ireland's leaders, as well as Slovakia's, Slovenia's, Portugal's, Netherlands', Malta's and Luxembourg's leaders.
Meanwhile, those who tabled for a rift between French and German positions were faced with a smiling Merkel at De Gaulle-Adenauer's meeting place, a sunny Saturday morning, and a particularly active-looking Merkel inside the French Presidential Palace at Elysee's gardens on Sunday, (as happy few photographers discovered)..
- "De Gaulle's hilltop, at Colombey-les-2-Eglises, gave an astonishing overview to a huge landscape, entirely surrounded by splendid Nature, as far as eyes could see", said to EuroFora an obviously charmed German Journalist.
She was describing Saturday's inauguration of a High-Tech Memorial close to the Historic Giant Double Lorraine's Cross, built by famous Novelist Andre Malraux, to perpetuate the Memory of his famous call for "Resistance" to NAZI, and his vision for the creation of New Institutions and Franco-German reconciliation, to foster Europe's role in the World, also for the Future.
Children playing at Elysee's gardens before the Historic 1st EuroZone's Summit : What Europe's Future will look like ?