Finance Minister Yannis Stournaras has rejected a notion from Europe’s statistical agency that Greece’s primary surplus will be shown as bigger than it really is and said strict mathematical standards will be applied.
Eurostat head Walter Radermacher, in an interview with a German newspaper, was skeptical of how Greece would calculate the surplus but Stournaras said it will be based on acceptable accounting principles.
“The method (the primary surplus) is calculated (by Greece) is more limitative than that of Eurostat’s. EU organs will be very happy, as will Mr. Samaras, with the results to be announced in a few days,” the Finance Minister added, the Athens News Agency said.
Stournaras has been hinting that the primary surplus – which doesn’t include interest on debt, the cost of state enterprises and municipalities, nor social security and some military expenditures – will be higher than earlier reported and could top 1.1 billion euros ($1.5 billion) which would allow Greece to seek debt relief
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