Goldman Sachs and the Decline of Greece
Description
Over more than a decade, America's top investment bank provided risky financial products that sent the Greek government further and further into debt. Goldman Sachs earned hundreds of millions on the deal while the position of Greece within the European Union became untenable. Traveling to New York, London, and Athens, this film reveals what happened and examines the devastating consequences in present-day Greece. Viewers learn how, even as the Greek debt edged closer to 60 percent of the nation's GDP (the limit set in the Maastricht Treaty of 1992), both Goldman Sachs and the Greek government continued with "business as usual," and how Eurostat, the EU's statistics office in Brussels, was informed about these instances of financial engineering and raised no objections. The film also shows how a vulnerable and unprepared Greek population bore the brunt of EU austerity measures.
Runtime
50 min
Subjects
- Wealth (179)
- Power (Social sciences) (152)
- Business ethics (382)
- Financial crises (71)
- Social classes (184)
- International economic relations (341)
Contributor
Geography
Genre
Date of Publication
[2013], c2012
Database
Films on Demand
Direct Link
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