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E C B Refuse To Disclose Secret Files On Greek Debt

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http://www.bloomberg.com/news/2010-11-05/ecb-rejects-request-for-files-on-greek-derivative-use-cites-acute-risks.html

ECB Rejects Request for Greek Swap Files, Citing `Acute' Risks
By Elisa Martinuzzi, Alan Katz and Gabi Thesing - Nov 5, 2010 7:29 AM GMT
The ECB turned down a request and an appeal by Bloomberg News to release two briefing documents officials drafted for the central bank’s six-member Executive Board in Frankfurt this year. The notes outline how Greece used the swaps to hide its borrowings, according to a March 3 note attached to the papers and obtained by Bloomberg News.
“The information contained in the two documents would undermine the public confidence as regards the effective conduct of economic policy,”
Trichet wrote in an Oct. 21 letter in which he rejected the appeal. Disclosure “bears, in the current very vulnerable market environment, the substantial and acute risk of adding to volatility and instability.”
:ph34r:

Not to worry, its all been contained and if there was any fiddles it could not have applied to any other EU member as Greece was theonly one to overspend and borrow during the Brown decade. Sovereign Debt was so 2010 and 2011 is almost here and there is nothing but blue skies ahead.

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http://www.bloomberg...cute-risks.html

ECB Rejects Request for Greek Swap Files, Citing `Acute' Risks
By Elisa Martinuzzi, Alan Katz and Gabi Thesing - Nov 5, 2010 7:29 AM GMT
The ECB turned down a request and an appeal by Bloomberg News to release two briefing documents officials drafted for the central bank's six-member Executive Board in Frankfurt this year. The notes outline how Greece used the swaps to hide its borrowings, according to a March 3 note attached to the papers and obtained by Bloomberg News.
"The information contained in the two documents would undermine the public confidence as regards the effective conduct of economic policy,"
Trichet wrote in an Oct. 21 letter in which he rejected the appeal. Disclosure "bears, in the current very vulnerable market environment, the substantial and acute risk of adding to volatility and instability."
:ph34r:

Not to worry, its all been contained and if there was any fiddles it could not have applied to any other EU member as Greece was theonly one to overspend and borrow during the Brown decade. Sovereign Debt was so 2010 and 2011 is almost here and there is nothing but blue skies ahead.

oops, cant disclose them because the markets would panic....sort of gives the game away.

then again, the documents probably name the guilty parties....much more interesting.

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This suggests that there is a very serious problem that can only be contained by secrecy.

Can we expect a wikileaks on this?

If the market is being distorted by secrecy once the secret is revealed it's more likely all hell is going to break loose.

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You know that entire series is online now. One of my favourites.

Me too. It was a catchphrase that Clavdivs used to describe all the troubles that would emerge on his death.

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“The information contained in the two documents would undermine the public confidence as regards the effective conduct of economic policy,”

In other words the public will only have confidence for as long as we continue to lie to them. If they knew the truth they'd go f*cking ape.

Sounds like a dictatorship to me.

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Me too. It was a catchphrase that Clavdivs used to describe all the troubles that would emerge on his death.

Ben Ben Bernanke...

All the poisons that have been lying in the mud are about to hatch out.

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  • 145 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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