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Write a 2-3 page analysis of the ethical case, Times New Roman, 12-point font, double spaced. Begin by utilizing the ethical case analysis guide provided within Modules and the Course Home Additionally, wer and incorporate questions 1, 2 and 3 at the end of the ethical case and include your finding within your case analysis On February 11, 2010, the leaders of the European Union (EU) agreed on a plan to bailout Greece, a country that had joined the EU in 1981 and was admitted to the European Monetary Union (ESTU) allowing Greece to adopt the Euro as its current in 2001. Greece had been able to pay its bills, or to borrow more money to do so because it had overspent is income on its social programs and other projects. In the aftermath of providing Greece with ballout credit ultimately totaling Co billion ($17hlica questions were asked about how this could have happened. A spotlight was to bear bow Go s h Greece to qualify for adopting the on the l and for providing the means to hide some transactions in which Greece pledged its future s in return for instantanto n , Shelped Greece drowave over its finances with arrangements that were not transparent In 2001, Greece wanted to join the EMU but faced a requirement that its debt-to-GDP ratio be less than 60%. Unfortunately, Greece had some debt that was payable in US dollar (USD) and other debt in Japanese Yen Both currencies had grown in a relative to the Euro in 1999 2000. Under EU nie, sch e dged debt had to be valued and reported at the Simons, Abby. "Homeless Youth Network Ditches Stript e a n. Min St. Paul Star Tribune, July 15.300 //www.startribune.com/local/25480700.html year-end exchange rates, so Greece faced the prospect reporting increased debt liabilities. In late 2000 and 900, GS proposed and arranged two types of her that d e ported Greek debt . Willion, and allowed Greece to access un reported off balance sheet financing . Curreney hedges that turned the US and Yen debt puments into and b y the Crvek swap portfolio into wo rry swaps valued using a Mistorical implied foreign exchange rate rather than market value exchange in the historical change rate was lower than the market rate at the time, the resulting valuation of the debt was reduced by almost blon( illion) Interest rate was that when coupled with a bond provided Greece with instant cash in 2001 in return for plein e langes at its airports. GS sporta pad o mi for this transat Alardealing cepled the futu r e its nationale in mo r e about saattamento de these are batch to the interest rate as to the Natal Bank of in 2003 in the well I ththa latestates Greece as o uture shows instantsh Butthach there was fine debate the top of the we e d to be d in 2001 and were therefore a type of balance sheet inancing"In 2002, the changed th e disclosure Humor the deal toalety called los that was created the Aeolos is the Greek In response to GS as on its website that the transactio n and interest rated consistent with the Furostat principles owing these and and its des S of GDP 107 t hat the reduction of Willicha m eet on the country's overall fiscal situation in 2001 .ever, it is not clear how much cash was provided to the stalled interest rate was that ts GDP was approximately toort lower delt obligations in total (EMU) allowing Greece to adopt the Euro as its currency in 2001 Greece had been unable to pay its bills, or to borrow more money to do so because it had overspent its income on its social programs and other projects. In the aftermath of providing Greece with ballout credit ultimately totaling Croo bllion (5147 billion), questions were asked about how this could have happened. A spotlight was brought to bear on how Goldman Sachs (GS) had enabled Greece to qualify for adopting the Euro in the first place, and for providing the means to hide some transactions in which Greece pledged its future revenues in return for instant cash to spend. In a sense, S helped Greece draw a veil over its finances with arrangements that were not transparent In 2001, Greece wanted to join the E U but faced a requirement that its debt-to-GDP ratio be less than 60%. Unfortunately, Greece had some debt that was payable in US dollar (USD) and other debut in Japanese Yen. Both currencies had grown in value relative to the Euro in 1000 and 2000. Lader EU rules, such unbedend debit had to be valued and reported at the Simons, Abby. "Homeless Youth Network Ditches 'StripClothe campaign, Minneapolis St. Paul Star Tribune, July 1 2008. http//www.startribune.com/local/ 2 g o.html year-end exchange rates, so Greece faced the prospect reporting increased debt liabilities In late 2000 and 2001, GS proposed and arranged two types of hedges that reduced reported Greek debt 2.6 billion, and allowed Greece to access unreported off balance sheet financing Currency hedges that turned the US and Yen debt payments into ano payments, and quently the Greek wap portfolio into new concurreny ww.aps valued using a historical implied foreign exchange rate rather than market value exchange rate. Since the historical exchange rate was lower than the market rate at the time, the rating valuation of the debt was reduced by almost 2 billion (32 billion Interest rate was that when coupled with a bond, provided Greece with instant cash in 2001 in return for pleding future landing fees at its airports. GS reportedly paid 300 million for this transaction. A similar deal in 2000 w Greece pledge the future revenge from its national lottery in return foresh Greece was obligated to pay a substantial amounts until 2010 under these but chose to sell these interest rate was to the National Bank of Greece in 2003 er eriticism in the Crvek Parliament In nee, through the so-called interest rate was, Greece was converting a stream of variable future cash into instantsh But, although there was a flere debate F inance ministers, these obligations to pay out future cash flows were not required to be disclosed in 2001 and were therefore a type of off-balance sheet financing. In 2002, the requirements changed and the o tions require disclosure Humously, the 2000 deal related to a legal entity called Aeolos that was created for the purpose Aeolos is the Greekpoddess of wind In response to puble criticism, Sangues on its website that these transactions both eurenty and interest rate hades were consistent with the Barestat principles overning their use and declosure at the time, In G that the reduction of 2. 7 billion minimal effect on the country's overall fiscal situation in 2001 since its GDP approximately 10 P on and its debt was owever, it is not clear how much cash was provided by the so-called terest rate was that allowed Greece to report low dest ations in total Questions 1. Goldman Sachs do anything wrong ly or thrally? Explain your answer 2. We make a difference other intet ander wa n gi What w ent impact de onderbed above on Goldmantas Write a 2-3 page analysis of the ethical case, Times New Roman, 12-point font, double spaced. Begin by utilizing the ethical case analysis guide provided within Modules and the Course Home Additionally, wer and incorporate questions 1, 2 and 3 at the end of the ethical case and include your finding within your case analysis On February 11, 2010, the leaders of the European Union (EU) agreed on a plan to bailout Greece, a country that had joined the EU in 1981 and was admitted to the European Monetary Union (ESTU) allowing Greece to adopt the Euro as its current in 2001. Greece had been able to pay its bills, or to borrow more money to do so because it had overspent is income on its social programs and other projects. In the aftermath of providing Greece with ballout credit ultimately totaling Co billion ($17hlica questions were asked about how this could have happened. A spotlight was to bear bow Go s h Greece to qualify for adopting the on the l and for providing the means to hide some transactions in which Greece pledged its future s in return for instantanto n , Shelped Greece drowave over its finances with arrangements that were not transparent In 2001, Greece wanted to join the EMU but faced a requirement that its debt-to-GDP ratio be less than 60%. Unfortunately, Greece had some debt that was payable in US dollar (USD) and other debt in Japanese Yen Both currencies had grown in a relative to the Euro in 1999 2000. Under EU nie, sch e dged debt had to be valued and reported at the Simons, Abby. "Homeless Youth Network Ditches Stript e a n. Min St. Paul Star Tribune, July 15.300 //www.startribune.com/local/25480700.html year-end exchange rates, so Greece faced the prospect reporting increased debt liabilities. In late 2000 and 900, GS proposed and arranged two types of her that d e ported Greek debt . Willion, and allowed Greece to access un reported off balance sheet financing . Curreney hedges that turned the US and Yen debt puments into and b y the Crvek swap portfolio into wo rry swaps valued using a Mistorical implied foreign exchange rate rather than market value exchange in the historical change rate was lower than the market rate at the time, the resulting valuation of the debt was reduced by almost blon( illion) Interest rate was that when coupled with a bond provided Greece with instant cash in 2001 in return for plein e langes at its airports. GS sporta pad o mi for this transat Alardealing cepled the futu r e its nationale in mo r e about saattamento de these are batch to the interest rate as to the Natal Bank of in 2003 in the well I ththa latestates Greece as o uture shows instantsh Butthach there was fine debate the top of the we e d to be d in 2001 and were therefore a type of balance sheet inancing"In 2002, the changed th e disclosure Humor the deal toalety called los that was created the Aeolos is the Greek In response to GS as on its website that the transactio n and interest rated consistent with the Furostat principles owing these and and its des S of GDP 107 t hat the reduction of Willicha m eet on the country's overall fiscal situation in 2001 .ever, it is not clear how much cash was provided to the stalled interest rate was that ts GDP was approximately toort lower delt obligations in total (EMU) allowing Greece to adopt the Euro as its currency in 2001 Greece had been unable to pay its bills, or to borrow more money to do so because it had overspent its income on its social programs and other projects. In the aftermath of providing Greece with ballout credit ultimately totaling Croo bllion (5147 billion), questions were asked about how this could have happened. A spotlight was brought to bear on how Goldman Sachs (GS) had enabled Greece to qualify for adopting the Euro in the first place, and for providing the means to hide some transactions in which Greece pledged its future revenues in return for instant cash to spend. In a sense, S helped Greece draw a veil over its finances with arrangements that were not transparent In 2001, Greece wanted to join the E U but faced a requirement that its debt-to-GDP ratio be less than 60%. Unfortunately, Greece had some debt that was payable in US dollar (USD) and other debut in Japanese Yen. Both currencies had grown in value relative to the Euro in 1000 and 2000. Lader EU rules, such unbedend debit had to be valued and reported at the Simons, Abby. "Homeless Youth Network Ditches 'StripClothe campaign, Minneapolis St. Paul Star Tribune, July 1 2008. http//www.startribune.com/local/ 2 g o.html year-end exchange rates, so Greece faced the prospect reporting increased debt liabilities In late 2000 and 2001, GS proposed and arranged two types of hedges that reduced reported Greek debt 2.6 billion, and allowed Greece to access unreported off balance sheet financing Currency hedges that turned the US and Yen debt payments into ano payments, and quently the Greek wap portfolio into new concurreny ww.aps valued using a historical implied foreign exchange rate rather than market value exchange rate. Since the historical exchange rate was lower than the market rate at the time, the rating valuation of the debt was reduced by almost 2 billion (32 billion Interest rate was that when coupled with a bond, provided Greece with instant cash in 2001 in return for pleding future landing fees at its airports. GS reportedly paid 300 million for this transaction. A similar deal in 2000 w Greece pledge the future revenge from its national lottery in return foresh Greece was obligated to pay a substantial amounts until 2010 under these but chose to sell these interest rate was to the National Bank of Greece in 2003 er eriticism in the Crvek Parliament In nee, through the so-called interest rate was, Greece was converting a stream of variable future cash into instantsh But, although there was a flere debate F inance ministers, these obligations to pay out future cash flows were not required to be disclosed in 2001 and were therefore a type of off-balance sheet financing. In 2002, the requirements changed and the o tions require disclosure Humously, the 2000 deal related to a legal entity called Aeolos that was created for the purpose Aeolos is the Greekpoddess of wind In response to puble criticism, Sangues on its website that these transactions both eurenty and interest rate hades were consistent with the Barestat principles overning their use and declosure at the time, In G that the reduction of 2. 7 billion minimal effect on the country's overall fiscal situation in 2001 since its GDP approximately 10 P on and its debt was owever, it is not clear how much cash was provided by the so-called terest rate was that allowed Greece to report low dest ations in total Questions 1. Goldman Sachs do anything wrong ly or thrally? Explain your answer 2. We make a difference other intet ander wa n gi What w ent impact de onderbed above on Goldmantas
