ELSTAT revises GDP yet AGAIN !!!!

Greece’s budget deficit reached 10.6 percent of GDP in 2010, the statistics office said today, revising the data YET AGAIN from a previous estimate of 10.5 percent of GDP. The Hellenic Statistical Authority (ELSTAT) said on Monday that in accordance with provisional source data, the deficit of the general government for 2010 … is estimated at 24.1 billion euros (or 10.6 percent of Gross Domestic Product). The statistics office also apparently once again revised the 2010 general government debt figure to 144.9 percent of GDP from 142.8 percent of GDP.
Just a little than ten days ago the GDP had supposedly declined (!) for 2010, thus reaching the same amount that it was in 2009 when PASOK came to power and when the spreads on loan rates were averaged at some 180-230 units. Basically ELSTAT raised the reduction from a previous -2% to -3.2%. (click here for that story)
And one has to wonder…. how many times will they keep making revisions. Already the head of ELSTAT has been accused of falsifying data on Greece’s deficit just before it signed the Memorandum with the Troika so that it can look higher than that of Ireland. (click for that story here). 
Meanwhile, The Greek Supreme Court received an official complaint which calls for an immediate and urgent investigation to be conducted into the alleged tampering of the Greek deficit, since evidence is pointing towards this direction. (click here for that story)

If the claims are indeed true, then the Memorandum (of Shame) is totally and without a doubt INVALID.



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