Le Monde: Draghi, Monti, Papademos – What Do They Have In Common?
Posted by keeptalkinggreece in Economy
Goldman Sachs, the US investment bank, rules Europe through three of its men in top positions, claims French newspaper Le Monde in its article ” Goldman Sachs – the link between Mario Draghi, Mario Monti and Lucas Papademos” by London correspondent Marc Roche. Le Monder refers to the common link between Draghi (European central Bank), Monti (Italy’s assigned PM) and Papademos (Greece’s assigned PM). The newspaper writes that the investment bank Goldman Sachs connects them as“members of the European government Goldman Sachs”. That there is a ‘token’ system of influence of the bank in Europe. And furthermore that the GS had set up a network in Europe and helped to cook the Greek debt.
”What do Mario Draghi, Mario Monti, and Lucas Papademos have in common? Well the new president of the European Central Bank, the new Italian and Greek Prime Ministers (respectively) all belong to Goldman Sachs. The US investment bank has indeed woven a unique network of influence in Europe through a dense network.In any contest, you need a hierarchy. The first prize goes to Mario Draghi, of course, vice-chairman of Goldman Sachs in Europe between 2002 and 2005. Named a partner, Draghi is responsible for mixing companies and sovereign. As such, one of his missions was to sell the financial product “swap” to conceal part of sovereign debt, which helped disguise Greek accounts.Then there is Italy’s Mario Monti, an international adviser to the firm since 2005.And third is none other than Lucas Papademos, who was last week appointed as Prime Minister of Greece. Papademos was Governor of the Greek Central Bank between 1994 and 2002, and he apparently participated in falsifying accounts perpetrated by Goldman Sachs in the year 2000 under the ruling PASOK party of Costas Simitis.”
According to Le Monde, Goldman Sachs never lets its people to reveal the relationship with her, even when assigned to institutional missions, as in the case of Mario Monti, who had undertaken a survey in 2010 for the European market and was assigned by European Commission President Jose Manuel Barroso.
Finally, Le Monde notes that the network of influence that had shown strength before and even during the turmoil caused by the crisis of 2008, lost ”effectiveness”, although there were cases where the methods of investment bank bought fruits like in the case of Greeceand the scenarios about shocks in the euro area.
PS Aha!? If Greece has such a strong supporter like Goldman Sachs, why has it been hit by the rating companies then?
As my knowledge in French very moderate and I don’t trust much automatic translations here is the full Article in French Le Monde
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