Again a total faux pass on your end in terms of lack of logic.
Nobody knew to what degree the Greeks lied at everyone else and to what length they went to hide the truth. No other assumption makes sense to start with.
So again, it is an Auditor's job to know. Yet you have tons of Madoff's who were so deceptive that they got away with lying and cheating until they could not anymore. Are you telling the widow of the investor who was bankrupted and committed suicide that it was his fault and that he was culpable? You can do a reasonably good job at monitoring and researching but at some point the realized cost of going further would not justify the benefits anymore. I think ECB and EU did what they could do (and again I am sure they could have done a bit better, in retrospect anyone can do better). But they did a reasonably ok job, but again criminal activity is very hard to catch outright. Well its all open book now, but after the fact.
Nobody knew to what degree the Greeks lied at everyone else and to what length they went to hide the truth. No other assumption makes sense to start with.
So again, it is an Auditor's job to know. Yet you have tons of Madoff's who were so deceptive that they got away with lying and cheating until they could not anymore. Are you telling the widow of the investor who was bankrupted and committed suicide that it was his fault and that he was culpable? You can do a reasonably good job at monitoring and researching but at some point the realized cost of going further would not justify the benefits anymore. I think ECB and EU did what they could do (and again I am sure they could have done a bit better, in retrospect anyone can do better). But they did a reasonably ok job, but again criminal activity is very hard to catch outright. Well its all open book now, but after the fact.
Anyone can cheat anyone else. But if I'm the EU, and I'm admitting a country, either one of two things is true:
1. They knew, and they were culpable.
2. They didn't know, and they should have known because it was their job to know.
Fault exists, either way.