For about a decade, tax revenues have been lower than expected. In a single year, the total amount of Greek tax evasion was estimated to be over US$20 billion. For this reason, Greece was ranked in Transparency International's Corruption Perceptions Index and was called the most corrupt country in the European Union. Huge amounts of misreported and unreported debt also played an important role in assessing corruption, as it was discovered that many transactions carried out were considered "credit swapping" and therefore were not qualified as debt. It was also later discovered that the Greek government was paying hundreds of millions of dollars to numerous banks, such as Goldman Sachs, for arranging swaps that hid the true level of Greek borrowing. “Notably, there were currency swaps in which Goldman Sachs virtually wiped out billions of Greek debts and loans by converting the currency into yen and dollars at a fictitious exchange rate hiding the true extent of Greek loans” ( Bazil 2010). The purpose of these transactions was to hide the Greek government's debt to the European Union while spending more and more of its debts