Συγκεκριμένα με τίτλο :
Greece not alone in exploiting EU accounting flaws το Reuters τονίζει και ορισμένες κραυγαλαίες περιπτώσεις :
It is not just derivatives. European sovereigns’ game of shifting liabilities off their balance sheets once provided fruitful ground for the now tarnished securitization sector.
Italy kicked of the craze 10 years ago by selling a 4.5 billion euro securitization backed by unpaid social security payments at the Istituto Nazionale Previdenza Sociale (INPS).
The early years of the single currency was marked by a series of similar asset-backed securitizations for Italy and other states such as Portugal, Greece and Belgium.
Then in May 2005 Germany joined in, selling 8 billion euros of civil service pension rights backed by payments from former state-owned companies Deutsche Telekom (DTEGn.DE), Deutsche Post (DPWGn.DE) and Deutsche Postbank (DPBGn.DE).
Eurostat did not allow the German securitization count as part of state borrowings, a stance which has seen the flow of deals grind to a halt.
Similarly, in 2008 it stopped the use of derivatives for fiscal window dressing but revelations over public sector finances are likely to continue this year.
Italian authorities are pressing for legal action against several banks for deals involving local authorities who sold bonds worth billions of euros during the past decade.
Italian municipals were heavy users of the debt markets during much of the past decade as a squeeze on public sector financing at the state level led them to look for alternatives
The rules on Italian local authorities’ borrowings encouraged them to use derivatives to smooth out the redemptions of debt. It is these derivatives, which are the center of the legal disputes.
Είναι προφανές ότι όσοι “σκούζουν” για τα κόλπα της Ελλάδας το κάνουν είτε γιατί δεν μπόρεσαν να “εκμεταλλευτούν” την περίπτωση είτε γιατί την εκμεταλλεύτηκαν και προσπαθούν με τις φωνές να καλύψουν τα δικά τους “Κόλπα“…
Σε κάθε περίπτωση όμως είναι καιρός η Ελλάδα να σηκώσει το κεφάλι και να σταματήσει να τρώει “Σφαλιάρες” αδιαμαρτύρητα…
Δημοσιεύθηκε από olympiada στο Φεβρουαρίου 24, 2010