Greece’s New Agreement with Europe: Is This Time Different?

Paul Kazarian and Theodore Pelagidis

Intereconomics: Review of European Economic Policy, 2015, vol. 50, issue 5, 281-287

Abstract: The correct understanding of Greece’s debt can only be obtained by using international accrual accounting standards rather than the cash-basis future face value definition. Changing the terms of debt changes the value of the debt in Greek governmental financial statements correctly prepared according to internationally promulgated accounting and statistical rules. This article provides some detailed answers on the rules for measuring debt and debt relief and the application to Greece. Copyright ZBW and Springer-Verlag Berlin Heidelberg 2015

Date: 2015
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DOI: 10.1007/s10272-015-0552-0

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