Although the bailout of the Greek economy just ended, doubts remain about their ability to sustain their long-term debt obligations.
Greece’s New Bailout Problem
As Greek bailout talks continue, European monetary officials are also concerned that a Greek statistician could receive a life sentence for reporting accurate macroeconomic statistics.
How an Economic Statistic Created a Crime
When Greek deficit totals were revised by the head of their statistical office, the Greek government said a crime had been committed.
The Dangerous Side of Economics
Because he revised his country’s inaccurate deficit and received Eurostat approval, Greece’s chief statistician might be prosecuted for “breach of faith.”
Why the GDP is Much More Than a Number
Seemingly just a statistic, how we calculate the GDP and how it is used can be controversial and affect the lives of millions of people.
