According
to the revised Eurostat data
globinfo
freexchange
Another
official source, Eurostat this time, confirms that the banks in
Greece received billions in bailout packages, leading to the
unprecedented enlargement of the national deficit. Of the total 12.2%
of GDP revised deficit, 10.4% is due to recapitalization of the
banks!
“Greece
had a smaller than previously reported budget deficit last year, the
European Union's statistics office said on Tuesday, as it
recalculated data under a new accounting system.”
“Eurostat
said that Greece had an overall budget deficit of 12.2 percent of
gross domestic product in 2013 rather than the 12.7 percent under the
old accounting system.”
“Of
that number, 10.4 percent of GDP is accounted for by money set
aside to recapitalise the Greek banking sector, Eurostat said, so the
actual government deficit was revised down to 1.8 percent from
2.3 percent under the old accounting system.”
According
a previous report by the Hellenic Statistical Authority, 10.6% of the
deficit in 2013 is due to the support to banks! Which means that the
deficit would be only 2.1% without this support!
Now,
the revised data by Eurostat give an even lower percentage for the
real deficit, at 1.8% of GDP! Which means that nearly all the money
went to save the bankers leaving a devastated Greek economy behind.
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