Announcement regarding an informational note from Eurostat about swap operations
According to the Eurostat report, referred to in the media, no specific
statistical rules regarding the treatment of swap operations existed in 2001. When such rules were
developed by Eurostat in 2002, the Greek authorities responded accordingly.
With regards to the specific type of swap operation that took place in 2001,
recording rules by Eurostat did not exist until March 2008. During a Eurostat visit to Greece in
September 2008, the government at the time did not provide the necessary details.
As reported also by Eurostat, following the publication of such rules, it
received the necessary information from the Greek authorities for the first time in February 2010.
The Ministry of Finance responded to this request as best as possible in the limited time that had
to meet the deadline and stands ready to provide any additional information the EU authorities
might request.
This note by Eurostat proves once more the government's commitment to move
forward with transparency in order to restore the credibility of Greek fiscal data and resolve
long-standing structural and institutional problems.
This note by Eurostat confirms once more the government's commitment to move
forward with transparency in order to restore the credibility of Greek fiscal data and resolve
long-standing structural and institutional problems.
