EU Officials Open Probe Into Derivatives Market Fraud Foillowing Papandreou Announcement for Referendum

Serious accusations of derivatives and currency market fraud are set to be investigated by European officials, focusing on the period right after outgoing premier George Papandreou made the formal announcement for a referendum. Quoting sources from Brussels capital.gr said today in a shocking report that European officials have noted profound acts of fraud that constitute as serious offenses and are now convinced that there was someone on the inside that leaked the information to investors.

The report also notes that this whole ordeal also further burdened the Greek economy.

The information presented in the same report cites specific movements in the derivatives and currency markets on the eve of the announcement by Papandreou. It is more than certain that a formal investigation is going to be initiated since senior officials declared "Some knew. The knew and they bet safely, and this will not go unnoticed."

Main opposition New Democracy MP Panos Kammenos who has already made serious accusations about these transactions against Papandreou and his family told the newspaper that he has submitted specific evidence in the Greek parliament about this and has asked that a formal investigation be made, but unfortunately, the relevant queries have yet to be formally addressed. "It is time that a serious investigation is made," while the formal EU investigation is being conducted.

Read about Panos Kammenos recent accusations here