Swaps May Have Masked Greece’s Debt

The Greek government may have covered up the true extent of its deficit by using cross currency swaps to circumvent the European Union’s and Maastricht rules on the matter.

  • 11 Feb 2010
The Greek government may have covered up the true extent of its deficit by using cross currency swaps to circumvent the European Union’s and Maastricht rules on the matter. Under Maastricht, a government cannot exceed a budget deficit limit of 3% of gross domestic product and government debt ...

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All International Bonds

Rank Lead Manager Amount $m No of issues Share %
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4 Goldman Sachs 192,174.73 616 6.14%
5 Barclays 184,453.95 705 5.89%

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2 Deutsche Bank 27,415.35 91 6.63%
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4 BNP Paribas 21,729.97 121 5.26%
5 Credit Agricole CIB 19,966.59 113 4.83%

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3 Morgan Stanley 11,899.85 66 6.85%
4 UBS 11,800.30 47 6.80%
5 Goldman Sachs 11,111.93 58 6.40%