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To: Haim R. Branisteanu who wrote (72980)	3/21/2010 9:22:55 AM
From: KyrosL	Read Replies (1) \| Respond to of 74559

He can't investigate, because his party is primarily responsible for the huge debt. The "conservatives" governed for the last five years before last October, but 90% of the debt was incurred while the socialists were in power, during the previous 20 years. The GS derivatives are a pretty tiny part of the problem. Two or three billion compared to 400 billion of total debt. Papandreou is doing what every politician does: blaming the problems on somebody else. In this case he has nice fat targets: Germany and foreign "speculators". Germany is an easy villain because of WWII. As I have said before, Greece is either seriously thinking of defaulting and abandoning the Euro or, most probably, wanting the rest of the Euro area to be afraid it will do so. Saber rattling at foreigners is excellent domestic politics. In any case, I think default and Euro currency abandonment is a serious option. There are rampant rumors in Greece that the Greek mint has been furiously printing drachmas since last December. Probably, just in case.