I do like this
paragraph from Ann Pettifor’s blog.
Mario Draghi
(now governor of the European Central Bank) used to be director-general of the
Italian Treasury, and according to Ann….
“There,
according to an investigation by the Financial Times, he worked with private
investment banks to arrange derivative contracts designed to disguise the scale
of Italy’s debt from EU authorities – to ease Italy’s entry into the
Eurozone. Draghi moved from the Italian
Treasury to Goldman Sachs in 2002 – 2005, and from there it was one easy step
to the governorship of the Bank of Italy in 2006. There he supervised and
allowed Banca Monte dei Paschi di Siena SpA to mask losses 367 million-euros,
which later required a taxpayer-funded bailout. This experience qualified him
for the role of governor of the European Central Bank in 2011.”
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