Put simply: it is fraudulent when a creditor uses lies or deception. JP Morgan deceived the Greek people by masking a massive loan to the Greek government as a "currency swap", seemingly to avoid the financial regulators within the EU. See here: http://www.nytimes.com/2010/02/14/business/global/14debt.htm...
"Instruments developed by Goldman Sachs, JPMorgan Chase and a wide range of other banks enabled politicians to mask additional borrowing in Greece, Italy and possibly elsewhere."
Sounds like the Greek government was culpable.
Not blaming the culture of corruption in Greece and not pointing out that the Greek overspending was the root of the problem is disingenuous.
There have been two different Greek governments in this period.
Smearing Syriza, a socialist formation which made the same critique as the above poster, and would never have signed those deals -- for the corrupt actions of New Democracy & PASOK which did is a little bit of intellectual dishonesty.
Sounds like the Greek government was culpable.
Not blaming the culture of corruption in Greece and not pointing out that the Greek overspending was the root of the problem is disingenuous.