Head Of Greek Statistics Bureau Accused Of Falsifying Economic Data Puts Blame Where It Truly Lies

Tyler Durden's picture

Back in 2011, when day after day the true ugly nature of the Greek economy was being exposed for all to see well just after the second and before the third bailouts of the country were a fact, and as the decade-long obfuscation campaign to present the economy far stronger than it was in reality was crashing and burning, Greece decided to do something unique: it would put all the blame on the president of its newly created, independent Greek statistics service ELSTAT, accusing him of making the country look worse than it was (as if that was at all possible). Just like in the US, the blame would never reach those who were truly responsible, and instead would find a scapegoat in a person who was new to the scene, had no political ties and connections, and could not defend himself.

Today, he has defended himself... but to no avail: he will be thrown under the bus, as the economic data lies and manipulation have resumed, only this time with someone to take the blame if only for a while. Then, in a few months when the lies are uncovered to have resumed, the charade can repeat itself all over again.

The highlights from his naive plea for justice are below:

In any event, it is striking that a criminal prosecution for “erroneous production of the public finance statistics of the country” did not take place when “greek statistics” were a constant source of concern for the European and international community, but it took place instead when the responsible European institution had accepted the Greek fiscal data as consistent with the rules and the methodology that are provided for and are binding in European Law and the national statistical institute of Greece had regained its lost credibility.


The continuous safeguarding of the unswerving application of the law, including European law, constitutes the only guarantee that the staggering effort of the Greek people in the context of the economic adjustment and reform program will be carried out on firm ground and that their sacrifices will amount to a solid investment for a better future.


Fully respecting this effort of the Greek people, I will continue to apply the law, despite the adversities. The faithful application of European Law in the production of Greek public finance statistics, and specifically of the deficit of 2009, cannot but be recognized also by Greek Justice.

Good luck:

The full release is below (link):

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Say What Again's picture

Where is Egan Jones when you really need them?

DCFusor's picture

Pay attention.  They were just banned from rating sovereigns for 18 months in some sort of "deal".

DCFusor's picture

Ah. My bad.  Wasn't it Goldman who helped them hide their bad numbers so they could get into the EU at all?

redpill's picture

We can't let MATH stand in the way of progress. FORWARD!!

FL_Conservative's picture

They obviously heard from Obama how more efficient it is for the process of compiling statistics to be reported with strong government oversight. Nothing like MAI (Made as Instructed).

Future Jim's picture

This tool at the federal reserve of St Louis can be quite handy for what little government data is still real. For example, there has been no jobs recovery. Not even a little bit. None of the lost jobs have been recovered.

No Euros please we're British's picture

Where is the unexpurgated version of the Lagarde list when you really need it?

Or was it all a cruel dream?

NEOSERF's picture

Where is Henny Youngman when your really need him?

Cognitive Dissonance's picture

"Just like in the US, the blame would never reach those who were truly responsible, and instead would find a scapegoat in a person who was new to the scene, had no political ties and connections, and could not defend himself."

If after ten minutes at the poker table you still haven't figured out who the patsy is.....maybe, just maybe it's you.

Stockmonger's picture

Paul Krugman could fix these statistics in an hour.

caimen garou's picture

Did the US learn that from the greeks or did the greeks learn that from the US! liar,liar, pants on fire!

Ident 7777 economy's picture




caimen garou:


" Did the US learn that from the greeks or did the greeks learn that from the US!  ..."



Oh c'mon now ... was that a naive question ... or rhetorical?


Greece has existed for ... how long now? A long-lost center of trade and civilization?




caimen garou's picture

more of a statement than a question!

CrashisOptimistic's picture

It's hard to make a case for Greek crisis now.  The EU has essentially committed themselves to lending any money required. 

Like all such things, these cratering numbers will converge to a low assymptote and never climb particularly from there, but the fact they have ceased to decline will be translated into victory.

And more money will then be loaned.


From Germany With Love's picture

Yeah. As I said, there is starting talk on TV here in Germany that we should show more solidarity to our European neighbbors. Which clearly is intended to lay the mental groundwork for a later transfer union.

Rainman's picture

In China, poor Andreas would have been executed before he could say " but..but.."

MillionDollarBoner_'s picture

... in Amerika, poor Andreas would have inexplicably died of a surprise heart attack, shortly after stepping in front of a speeding black SUV which failed to stop...

NEOSERF's picture

In China, Andreas would have pilfered several hundred million dollars and purchased strip malls in Tampa with them which his extended family of 220 in the FL area would manage.

Inthemix96's picture

Now lets not get all down and dirty on the Greeks who lie, Jesus Fucking Christ himself would weep if he could see the fucking idiots either running Britain, or trying to run it.

The Greek quite obviously do not have ultimate leaverage on in-bred, blue blooded fucking imbeciles, with a fucking penchant on more of your money, Its calling the kettle black if we cannot admit the whole world governMENTAL situation is filled with inadequate, stupid, theiving, immoral, theiving, lying fucking human filth bringing this shit-show to the world daily.

And still we do fuck all about it.  Leave the fucking Greeks alone, we are all suffering in bondage to the fucking criminal class who have the leads, and the connections to fuck us all over till Tuesday, and nowt will change till we as a collective sort these fuckers out.  For fucks sake, our lot of criminals have decided that they deserve a 32% pay increase and have said with a straight face, that WE the people said they deserved it?  Who the fuck do these criminals think they are kidding?  Give it time friends, revenge as they say, is a dish served cold.

TPTB_r_TBTF's picture

If inbred imbeciles can fuck us over this easily,

then we must suck that badly.


IOW, maybe "they" ainT imbeciles...

... (but inbred blue-blood, yes of course).

Manthong's picture


Substitute one of these for “badly”:

a.    gullibly

b.    submissively

c.    cowardly

d.    weakly

e.    easily

f.     all of the above

Regardless, somebody is getting a hell of a blow job.


LongSoupLine's picture

Corruption is the universal fucking language of global finance.

fuck you Greece. fucking die already.

Dr. Engali's picture

The little guy gets screwed and the real criminal gets speaking engagements. There's justice for you.

rlouis's picture

Maybe I missed something.  I thought he was going to name names.

No Euros please we're British's picture

I think we should all just emigrate to Iceland. Fuck the US/UK/EU and their fucking "financial services".


Stud Duck's picture

History has demonstrated that the people that cause the damage get their just rewards. They get "get away" homes in Jackson Hole, ranches in Paraquay or Chile, and nice little mansions on the Ocean in Arruba. All of those countries of course do not honor extradition agreements and welcome the super rich into their system with open arms.

The people that get the inflation shaft, after working their whole adult lives paying taxes from that labor, just die off wondering what happened or curse the party that they do not belong too.

The grand plan is working quite well as it alway has, the sheep are herding quite well today thanks to big dogs and the dribble of feed that keeps them behaving like sheep!


Ident 7777 economy's picture

"You are what you steal" ... that explains it ...

NEOSERF's picture

Surprised there was even a court case...judges can't be getting paid and the leaders all have to be in Davos with their hands out

Joebloinvestor's picture

Greece, the lamprey eel of the EU.

From Germany With Love's picture

What else would you expect from a bunch of thieves? Greek elites, I mean. The Greeks I did get to know here in Germany were all nice people but I dont hold their leaders in the same regard.

MS7's picture

Poor guy-- He was also working for the IMF at the same time. Yeah, I'm sure he was really objective. If I'm not mistaken, he had said he did not resign from his post at the IMF at the time he was hired to head the "independent" Greek statistics agency because that would mean he would lose his pension, which apparently the IMF gives to people at an early age. It's hard work making countries cut their pensions (like our social security, really). The IMFers have to retire in style. Wait for the facts before you judge who is the innocent party here. Honestly, though, I don't think we will ever get the facts because about 100% of the politicians are corrupt.