Stat Agency President Andreas Georgiou and 2 others are charged with inflating Greece’s 2009 deficit.
Greece’s 2009 deficit was originally projected by the outgoing conservative government at 6% of gross domestic product, but was later increased to 13.6% after the Socialists came to power in October of that year. Greek officials later revised the number to over 15% of GDP, on the basis of which the EU and IMF decided to give Greece the bailouts. Eurostat accepted all the revisions.
Greece received its first €110 billion ($146.5 billion) bailout in May 2010, which was then rolled into a second loan early last year when it became clear the country would need more time to close its budget gap.
(Bet they’re not alone in the current global economic climate…)
To read the full WSJ story ‘google’ the headline above
