Criminal Inquiry Against ELSTAT Director

Finally some sort of justice! The accusations against the head of Greece’s Statistical Agency (ELSTAT), Andreas Georgiou, who apparently helped former Finance Minister George Papaconstantinou  purposely inflate Greece’s 2009 budget figures to be more than that of Ireland’s are now going to be fully investigated, a report in the Financial Times said today.

The investigation is going to focus on former International Monetary Fund official, and now director of ELSTAT, Andreas Georgiou’s actions. The ELSTAT director has already appeared informally before a junior financial prosecutor investigating accusations by a fellow statistician, including Mr.s Georgantas, that he “betrayed the country’s interests” by inflating the 2009 budget deficit figures.

Click here to read more about this controversial issue in one of hellasfrappe’s earlier articles

Georgiou iis now expected to attend a formal hearing next month conducted by Grigoris Peponis, the senior prosecutor for financial crime, who was appointed this year after the Troika pressured the Greek government to crack down harder on tax evasion and economic crime.

A second case, filed by the Athens lawyers’ union, also demands a criminal investigation on the grounds that the fake deficit  numbers damaged Greece’s credibility, national sovereignty and violated the constitution.

Read Story on CNBC


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