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THE ODYSSEY OF GREEK PUBLIC FINANCE
STATISTICS
a serious communication issue
Tim Allen, Head of Press Office, Eurostat
30 June 2010
The background
 Government deficit and debt data
 Maastricht criteria: deficit <3%, debt <60% of GDP
 Notified by EU Member States to Eurostat…
 …and published in a News Release in April and
October
 Used in Excessive Deficit Procedure (EDP)
THE ODYSSEY OF GREEK PUBLIC FINANCE STATISTICS
THE ODYSSEY OF GREEK PUBLIC FINANCE STATISTICS
A long history…
Eurostat reservations on Greek data since 2002
Significant revisions in 2004
Eurostat report to Council in November 2004
• “The reliability of Greek deficit and debt statistics has been the object of
particular attention by Eurostat in the past. Statistical issues in this field were
debated with the Greek statistical authorities far more frequently than with any
other Member State. Eurostat was forced to introduce several times footnotes
about reservations on the quality of Greek debt and deficit figures.”
• Greek data for 1997-2003 revised
Eurostat given (some) additional powers in 2005…
…but continued to express reservations…
…and visited Greece more often than any other MS
THE ODYSSEY OF GREEK PUBLIC FINANCE STATISTICS
THE ODYSSEY OF GREEK PUBLIC FINANCE STATISTICS
Four key events
 What we wanted to communicate
 What methods we used
 What the media did
 What were the results
THE ODYSSEY OF GREEK PUBLIC FINANCE STATISTICS
THE ODYSSEY OF GREEK PUBLIC FINANCE STATISTICS
22 October 2009 – 2nd notification for 2008
 New tables on government support to financial
institutions
 Technical Briefing
 Tables well received
 Greek reservation met with limited surprise, but Greece
also revised 2009 forecast…
THE ODYSSEY OF GREEK PUBLIC FINANCE STATISTICS
8th January 2010 – Report
 Report on Greek government deficit and debt statistics
 Questions, requests for interview
 Greek TV, German TV
THE ODYSSEY OF GREEK PUBLIC FINANCE STATISTICS
THE ODYSSEY OF GREEK PUBLIC FINANCE STATISTICS
February 2010 – Goldman Sachs swap deal
 Media asked questions
 Eurostat didn’t know about deal
 LOTS of questions / interview requests
 Info note on website, sent to agencies
 Few interviews, lots blocked
THE ODYSSEY OF GREEK PUBLIC FINANCE STATISTICS
THE ODYSSEY OF GREEK PUBLIC FINANCE STATISTICS
22 April 2010 – 1st notification for 2009
 Continued Greek reservation
 Technical Briefing
 Immediate effect
 More interview requests
THE ODYSSEY OF GREEK PUBLIC FINANCE STATISTICS
Today…
 Questions continue:
– New powers?
– Greece?
– Swaps operation?
– Bulgaria?
– Hungary?
THE ODYSSEY OF GREEK PUBLIC FINANCE STATISTICS
THE ODYSSEY OF GREEK PUBLIC FINANCE STATISTICS