Greek PM may sue US banks

GREEK Prime Minister George Papandreou declared he is not ruling out taking legal action against US investment banks for their role in creating the spiralling Greek debt crisis.

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.