IW's sister title Risk outs Greece's seven year secret

The standoff between Greece and the EU refuses to lie down, however it was Incisive Media's Risk magazine which skilfully pinned down the exact numbers in an article published in 2003.

The article revealed how Greece and its investment bankers Goldman Sachs used a complex currency derivative trade to hide loans to Greece, and how this was done with the knowledge of EU officials Greece has been stripped of its vote at a key EU meeting, effectively putting the country on the naughty step until it can prove it is taking sufficient measures to cut public spending and raise further revenue. The citizens of wealthier EU countries, notably Germany, are being persuaded to stand behind Greece’s debt for the sake of European unity and stability, but there is growing domestic...