Tag Archives: Greece : More astonishing Graft In Senior Ranks Of Athens Banking System … But Troikanauts Don’t Care

John Ward – Greece : More astonishing Graft In Senior Ranks Of Athens Banking System … But Troikanauts Don’t Care – 17 July 2012

Caligula rules apply in the last days of the Euroblown experiment

In a terrific piece of sleuthing by Reuters in recent weeks, the news agency has established beyond reasonable doubt that offshore companies owned by Piraeus Chairman Michael Sallas and his two children bankrolled shares he bought in the Bank…..by borrowing money from a rival bank. The purchase also represented insider trading, as Sallas knew the bank was about to be recapitalised. Unsurprisngly, the Athens stock exchange were not informed of the carefully disguised 6% stake he had taken. Continue reading