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Tuesday, 29 October 2013

BELATED WEEKEND READING: 26-27 OCTOBER


  1. ELSTAT celebrates the seventh set of deficit figures in a row to be published without reservations by Eurostat.
  2. Note also that ELSTAT now publishes figures on the impact of support to financial institutions on the government deficit. Q2 2013 was a whopper. Note also that compensation of state employees and social benefits are now less than 50% of all government spending - down from 68% two years ago.
  3. The Commission launches a consultation on State Aid in agriculture, forestry and rural areas. Expect the Greek authorities to respond quickly and at length.
  4. The IMF publishes a brief history of fiscal transparency through the ages, which shows that the modern Greek state was actually a pioneer of fiscal transparency in its early days - because it came into being deeply in debt.
  5. Some tourism/immigration figures to take note of. The number of Serbs and Russians arriving in Greece increases by 50% yoy in H1 2013. Visitors from 'Syria-Lebanon' (?) increase threefold, and a mysterious near-tenfold increase in Estonian visitors.   

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