March 2010, news round-up
Eurostat slated; EC dithers over FX legislation
Luxembourg-based rulemaker Eurostat drew heavy criticism from the market for failing to keep tabs on how European countries, including Greece and Italy, published their debt figures. In 2008, Eurostat changed its rules to ensure Greek-style swaps would show up in national debt figures, but it was acting 13 years after Italy first used a similar technique to mask its own borrowing. One European debt management official summed it up: “Was it cock-up
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