Back in 2002-03, when I was advisor to the Polish Deputy Premier and Minister of Finance, we were bombarded with calls from London-based investment banks about ingenious ways of hiding budget deficit and public debt. The investment bankers already then were extolling the "success" of Italy and Greece in using their products. We never went for it.
Now the truth is coming out: read the Spiegel's coverage.
Stay tuned for more innovative "hide public debt" products in the near future, including the UK...
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