When it comes to overspending, Greece gets the gold medal.
Did 2004 Olympics spark Greek financial crisis?
Seeded on Thu Jun 3, 2010 7:29 AM EDT (NBC Sports)
— Filed under: sports, economy, government-and-politics, olympics, industries, corporate-news, olympic-sports, government-business-and-finance, industrial-products-and-services, olympic-games, financial-markets, national-governments, government-finance, softball, corporate-capital, international-organizations, emergency-management, jacques-rogge, george-papandreou, stephen-wilson, sebastian-coe


It was NOT the Olympics, it is the fact that Greece has not balanced their budget in a long time (just like the USA) and that the country used fraudulent accounting trick. With the aid of Goldman Sachs and other banksters, the central bank/treasury uses very questionable accounting rules to make their debt look less than it is. The USA is the same, as Fred/Fan should be on the books and thus making the USA far over 15 trillion in debt. Greece also has unfunded liabilities (retirement payments, medical, etc) so that needs to be factored in. Just to give you an idea, the USA is far over $100 trillion in debt when you take into account all the debt plus liabilities.It was NOT the Olympics, it is the fact that Greece has not balanced their budget in a long time (just like the USA) and that the country used fraudulent accounting trick. With the aid of Goldman Sachs and other banksters, the central bank/treasury uses very questionable accounting rules to make their debt look less than it is. The USA is the same, as Fred/Fan should be on the books and thus making the USA far over 15 trillion in debt. Greece also has unfunded liabilities (retirement payments, medical, etc) so that needs to be factored in. Just to give you an idea, the USA is far over $100 trillion in debt when you take into account all the debt plus liabilities. So again, the accounting fraud by Greece (and the USA) and simply coming to light.