Quote:
Originally Posted by bobman0330
Well, they moved from a primary surplus to a primary deficit, which is a pretty gigantic obstacle to the FU creditors plan.
They never had a primary budget surplus. They basically broke even in 2014
The surplus people keep referring to had both obvious tricks (counting interest refunds as revenue but not interest payments for example) and not so obvious fudging of expenditures numbers.
It was enough of a basis to negotiate for more aid for more reform. Then the Greek people elected Syriza to power. First thing Syriza did was accept the deal the technocrats negotiated, took the money, then reneged on their reform commitments.
Last edited by grizy; 07-07-2015 at 05:27 PM.