Eurogroup statement on Greece

On 5 May 2014, the Eurogroup welcomed the positive macroeconomic developments in the Greek economy. The growth prospects for Greece reflected, according to its members, the remarkable adjustment efforts undertaken by the Greek citizens and authorities.

However, the Ifo Institute, one of Germany’s most influential economic think tanks, accused the EU institutions on the 7 May 2014 of “fiddling the figures” on Greece’s public deficit figures in order to “embellish” the country’s situation ahead of the May 2014 European elections.

• Primary Source

ESO: Background information: Budget surplus earns Greece debt relief from EU http://www.europeansources.info/record/budget-surplus-earns-greece-debt-relief-from-eu/

EurActiv, 08.05.14: EU accused of ‘fiddling’ with Greek deficit figures ahead of election http://www.euractiv.com/sections/eu-elections-2014/eu-accused-fiddling-greek-deficit-figures-ahead-election-302011

Ifo Institute: Press Release, 07.05.14: Ifo President Hans-Werner Sinn Accuses EU bodies of Window-Dressing Figures on Greece https://www.cesifo-group.de/ifoHome/presse/Pressemitteilungen/Pressemitteilungen-Archiv/2014/Q2/press_20140507_eu.html

---