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Siemens to forgive Greek debt amid bribery deal

The Local · 27 Feb 2012, 16:40

Published: 27 Feb 2012 16:40 GMT+01:00

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The company has admitted to bribing Greek officials to win lucrative deals, which contributed to the widespread public sector rot helping push Greece to the brink of insolvency.

But as Greece enacts brutal austerity measures to remain in the eurozone, it is looking for creative ways to help secure jobs – including hammering out a €170 million deal with the company.

The daily Süddeutsche Zeitung reported on Monday that the German firm was willing to sacrifice €80 million out of €150 million owed as reparations for systematically bribing Greek officials over the years.

At the same time, Greece would invest €90 million in new projects with Siemens, such as expanding the metro in Athens.

The head of a parliamentary inquiry originally suggested Siemens pay €2 billion in damages for greasing the palms of Greek officials.

Story continues below…

But Lucas Papademos, Greece’s caretaker prime minister, now reportedly favours any action that would help boost employment rather than simply have Siemens pay fines for its past misdeeds.

The Local/mry

The Local (news@thelocal.de)

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Your comments about this article

19:37 February 27, 2012 by melbournite
The only surprise about this story is that it got into the public domain. Its the rich and the capitalists of both countries that are screwing us all. How about forcing the rich to pay some tax and leave pensioners with a little dignity
21:50 February 27, 2012 by SonOfSparta
This is only a partial victory, for the good of both the Greek and Germany people, I believe the Siemens officials behind the bribes, as well as the Greek officials who took the bribes should be brought to the international court in the Hague. If both parties are indeed found guilty they should be put in jail.
07:00 February 28, 2012 by mos101392

I totally agree with you.

If one person was at fault, he would be punished!

But if a large company is involved, the criminality is overlooked and everyone gets to go home at the end of the day.

If a person kills someone, they are a murderer

If a person kills millions, they are a conqueror
09:29 March 1, 2012 by szukalski

And if they kill them all.. they're a god!
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