Papandreou Says Excessive Debt Was a `Symptom, Not Cause' of Greek Crisis

Excessive debt was the result of years of tax avoidance and corruption in Greece and not the direct cause of the Greek financial crisis, Prime Minister George Papandreou said.
Speaking at a conference in Paris, he said that while his government is taking steps to cut its deficit, its more important work is “creating a society of transparency and good governance.”
He said the Irish, who have also been forced to cut their deficit, are “paying for the practices of international finance.”









Bloomberg


http://www.bloomberg.com/news/2011-01-06/papandreou-says-excessive-debt-was-a-symptom-not-cause-of-greek-crisis.html