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Greece's debt seemed sustainable partly because official statistics were manipulated. Then, along with financial crisis, came more scrutiny. The crisis was a t
by ptaipale 11y ago
Greece's debt seemed sustainable partly because official statistics were manipulated. Then, along with financial crisis, came more scrutiny.
The crisis was a trigger, but not a reason. Public spending in Greece was beyond what it could really afford; when skewed statistics were exposed, it turned out that the actual deficit was 12.7 % instead of 6 % - and this change came in about a month.