Greece May Take Legal Action Against U.S. Banks

The Greek Prime Minister is reportedly not ruling out the option to investigate U.S. investment banks to determine what role they may have had in the recent Greek crises:

Both the Greek government and its citizens have blamed international banks for fanning the flames of the debt crisis with comments about Greece's likely default, actions that are causing the country's borrowing costs to soar.

"I wouldn't rule out that (legal action) might be a recourse. But we need to let due process (take its course) and then make our judgments once we get the results from the investigations," Papandreou said in a CNN interview broadcast Sunday.

He did not elaborate further on any actions against U.S. banks.

Papandreou also said a parliamentary investigation will examine the rapid swelling of Greece's debt and international banking practices to examine whether the financial sector engaged in "fraud and lack of transparency."

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