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Greece’s New Agreement with Europe: Is This Time Different?

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  • Paul Kazarian
  • Theodore Pelagidis

Abstract

The correct understanding of Greece’s debt can only be obtained by using international accrual accounting standards rather than the cash-basis future face value definition. Changing the terms of debt changes the value of the debt in Greek governmental financial statements correctly prepared according to internationally promulgated accounting and statistical rules. This article provides some detailed answers on the rules for measuring debt and debt relief and the application to Greece. Copyright ZBW and Springer-Verlag Berlin Heidelberg 2015

Suggested Citation

  • Paul Kazarian & Theodore Pelagidis, 2015. "Greece’s New Agreement with Europe: Is This Time Different?," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 50(5), pages 281-287, September.
    • Handle: RePEc:spr:intere:v:50:y:2015:i:5:p:281-287
    DOI: 10.1007/s10272-015-0552-0
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