ΤΟ ΞΕΒΡΑΚΩΜΑ ΣΗΜΙΤΗ-ΓΙΑΝΝΟΥ-ΝΔ ΓΙΑ ΤΑ SWAPS

Η Ελλάδα υπόδουλη των μεθοδεύσεων Σημίτη. Η οικονομία στα χερια Παπακωνσταντίνου.Tα στοιχεια απο επισημη εκθεση της EUROSTAT ME THΝ ΕΥΓΕΝΙΚΗ ΧΟΡΗΓΙΑ -  Πόρτα ΠόρταEUROSTAT.pdfhttp://www.filefactory.com/file/cdd91f2/n/EUROSTAT.pdfΔΕΝ ΜΕΤΑΦΡΑΖΩ ΔΙΟΤΙ ΘΑ ΧΑΘΕΙ Η ΟΥΣΙΑ. ΘΑ ΕΠΙΣΗΜΑΝΩ ΤΑ ΒΑΣΙΚΑ στο τέλος του άρθρου.ii) Transactions on derivatives in GreeceThis section is a short summary of the difficulties that Eurostat encountered in order to get complete  and  reliable  information  about  the  derivatives  and  notably  about  the  swaps transactions carried out by the Greek public debt agency (PDMA). At the beginning of the year 2010, it became known that Greece had entered in 2001 into currency off-market swap agreements with Goldman Sachs, using an exchange rate different from the spot prevailing one. The Greek authorities had not informed Eurostat on this issue and no opinion on the accounting treatment has been requested from Eurostat as it should be the case for transactions that are not explicitly covered by its rules. In addition, Eurostat had been  previously   wrongly  informed  by  the  Greek  authorities  that  there  had  been  no occurrences of off-market swaps in  the past, following a questionnaire sent to all Member States requesting information on swaps operations. In  2008 the Greek authorities wrote to Eurostat that: “The State does not engage in options, forwards, futures or FOREX swaps, nor in off market swaps (swaps with non-zero market value at inception).“ After the Goldman-Sachs (GS) case became known, Eurostat raised additional questions to the Greek authorities. The existence of currency swap transactions, as well as an interest rate swap  linked  to  them,  was  confirmed  but  no  detailed  information  was  provided  before Eurostat’s EDP methodological visits on 22-24 March 2010 and 29-31 March 2010.  Eurostat was also informed that this interest rate swap (IRS) had been substantially amended several times because the position of Greece in the swap worsened significantly due  to “adverse market trends”. Two issues on swaps were on the agenda during Eurostat’s methodological visit on 21-22 June 2010.First, on the basis of the information that had been provided, Eurostat informed the Greek authorities of its analysis as regards the correction that should be implemented at the level of the Greek Maastricht debt for the GS swap.Second, at the request of Eurostat, the Greek authorities informed Eurostat that from 2005 to 2007 they entered in numerous small “off market interest rate swaps” (adequate data on these transactions however were provided only in September 2010) (****) Finally, it is because of this recurrent delays by the Greek authorities to provide Eurostat with a complete and  adequate information on all swap transactions, that most issues related to swaps were only resolved during the Eurostat mission on 27-28 September 2010. On the one hand, the correction for the 2001 transactions was  agreed on as mentioned