BRUSSELS, Jan 12 (Reuters) - The European Commission is likely to launch infringement proceedings against Greece for failing to provide reliable statistics on its budget deficit and debt, an EU source with knowledge of the proceedings said on Tuesday.
The Commission, the European Union's executive arm, is responsible for upholding EU law. It had already once launched proceedings against Greece for unreliable deficit statistics in 2004, but closed them in 2007.
"There will probably be another infringement procedure... because providing timely and reliable statistics is an obligation under EU law and they have failed in their obligation," the EU source said.
Greece revised its 2008 budget deficit to 7.7 percent of gross domestic product from 5.0 percent reported in April and also revised its 2009 budget deficit forecast to more than 12 percent of GDP from 3.7 percent forecast in April.
A Commission report officially released by the EU's statistics office Eurostat on Tuesday underlined reservations about past Greek data, saying Eurostat had questioned figures five times between 2005 and 2009
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Heck the US is always manipulating the numbers for political reasons. Just look at the changes to GDP and unemployment numbers to make them look rosier - 660,000 dropping out of labor pool in December to keep the rate from rising to 10.4% officially even though we know the real rate is 21.9%.
ReplyDeleteManupulation does not matter. Numbers are just numbers and you can give whatever meaning to it. If you have 50/1 people telling you 2+2=1 then thats it, does not matter what some else say. If you want the truth just have a look arround you, more retail store opeining, more people able to find jobs, businesses posting record profits, share market soaring, record consumer spending, where is the depression?????????????? you think we are in one, the majority sheeple say we are not therefore, there is no depression. beleive it.
ReplyDelete7:59 holy shit, how did the doctors get you out of that coma? Was it a head on or a stroke?
ReplyDelete8:06 that wasn't very nice. True, but not nice.
ReplyDelete8:06 I don't mind following the sheep. By following them and buying on the stock market since the March lows and selling bit by bit I am swimming in cash and don't even have to think about getting a job for the next 50 years.
ReplyDeleteOhh you are so intelligent, everything is manipulated, then keep hiding in your stupid cave. By the way say hi to your millennium bug friends still hiding in the cave you are.
8:06 very offensive chap! Even over here in Oz we don't swear like that mate! Why the Jesus hate? We love the yanks but they swear like a crabby ole pirate,haha! Sure glad I changed my holiday in Florida tho...it was colder than a well diggers arse, no?
ReplyDeleteI hope the US sends everything we have to Haiti. We are broke anyway. At least we can do out as humanitarians rather than genocidal war mongers.
ReplyDeleteThose poor people. Worst quake in 200 years.
No troll he didn't create anything since he is a myth.
ReplyDeleteThis is the End of the world people, Greece is manipulating figures, we are doomed. Greece alone is enough to plunge the entire world economy. whaaaaaaaaaaaaaaaaaaaa urrrrrrrrrrrrrrrrr wahhhhhhhhhhh run run run everybody... EA you are GOD thanks for saving us all, by vomiting crap from mainstream reuters.
ReplyDeleteThere is one certain troll who keeps coming to this site to post misinformation. It could be the one saying he is "swimming in cash."
ReplyDeleteYou guys have to seriously analyse these people who post stuff like this. I mean, what person who is "swimming in cash" is going to waste their free time posting misinformation on a blog they don't even believe in when they could be using all that wonderful money to go out and take a vacation or a nice dinner.
I can't even understand why anyone who is doing so well would come to this blog. If I had that kind of money I wouldn't come here to stir controversy -- what a waste of time!
7:59 and 8:06 is the same troll that I can recognise not only on this blog but on other places. This person has an agenda.
ReplyDelete@8:52 you are just frustrated that you did not follow the sheep into the market and lost a lifetime opportunity to make quick money. The reality is and you know it, we are not reaching the March lows again. You can still dream of a market crash and so far everything is proving me right and you a stupid moron.
ReplyDeleteMY ADVICE TO THE GOOD PEOPLE WHO POST HERE (MINUS THE ONE TROLL) IS TO IGNORE THE TROLLS.
ReplyDeleteDON'T FEED THE TROLLS. VERY SIMPLE.
Eventually, when the guy with antisocial issues (he clearly has a beef with society and other people) will give up and go find another blog to bug people.
::whispers:: (Remember, IGNORE THE TROLLS).
ReplyDeleteLMAO.
On a more serious note ladies and gents, at least more Americans are beginning to wake up! It seems just a few months ago people were disagreeing with us, now even Arianna Huffington is telling people to pull their money from the Big Banks and even the die-hard liberals are agreeing that the Tea Baggers may have a point.
Change is coming!
Yes. I have noticed the same thing. People are actually seeing that staged Xmas underwear guy for what he was also. A stooge step up to allow us an entry into Yemen. People can see that, but they can't see the bigger picture, that the entire war on terror was a bad con job.
ReplyDelete