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The new Greek government gets help from investment bankers to get the country’s debt under control. Engaged she professionals of the American banking house Lazard, which also runs a large branch in France. The key man should probably also be doing a Frenchman Matthieu Pigasse, CEO of Lazard France. The 47-year-old bank manager was between the years 2010 and 2012, one of the privileged adviser to the Greek government, today he works as also for the Greek banks restructuring fund.
As a private citizen he has the millions he has earned, mainly invested in the media industry. He is one of the three major shareholders of the French newspaper “Le Monde”, he is also involved in the French branch of the “Huffington Post” and the French magazine “Les Inrockuptibles”. Pigasse is the socialist government suggested earlier, he advised the former French finance minister Dominique Strauss-Kahn and temporary presidential candidate Segolene Royal, the former girlfriend of President François Hollande.
In French radio Pigasse is also presented before, how Lazard could imagine but one-time debt relief for Greece. More than 250 of the full € 320 billion Greek debt are after the successful debt restructuring in 2012 and as a result of the assistance programs in public hands. If one were to this part attributed to 100 billion euros, Greece achieved an “acceptable level of debt,” Pigasse said. The debt ratio would fall by a level between 100 and 120 percent of the economic performance of the country.
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Lazard banker Pigasse retains other way possible – but as a further extension of the maturity of the debt or even lower interest rates. In radio Pigasse also reported that Lazard gained by his first advisory mandate for Greece around 20 million euros. He also attacked the investment bank rivals Goldman Sachs, which Greece also discussed – because of conflicts of interest: “You have a financial provider that has simultaneously advising the French government, investment recommendations expressed, received their own positions in proprietary trading, investing on behalf of third parties and also Greece also granted loans. “
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So far is Greece with his desire again to reduce the debt burden, but quite alone. Not only the German Federal Government rejects a haircut, sharp criticism came from the Spanish and the Portuguese government. Portugal’s Prime Minister Pedro Passos Coelho told parliament in Lisbon: “This is not a perspective that the countries thrilled that could solve their problems.”
The Greek Prime Minister Alexis Tsipras and his Finance Minister Giani Varoufakis expressed significantly more constructive than the days before this weekend. Tsipras said he felt the mandate of the Greek population obliged to replace the current austerity by a growth policy. This was, however, “no way means that we meet our commitments to the European Central Bank or the International Monetary Fund fail to comply.”
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