Eurostat announces 3.4 billion surplus for 2013

At this stage Eurostat estimates that it will announce about 3.4 billion euros primary surplus (Troika estimates 1.5 billion). The exact amount, though, is not of great importance, comparing to the fact that the surplus was achieved a year earlier than expected and has the “seal” of Eurostat.

This is considered to be the “stepping stone” in order to regain international credibility, since all European partners were keep on saying that “first we have to see what Eurostat will announce”. And it's really important considering that just four years ago, on April 23, 2010, the previous Minister of Finance. Mr. George Papakonstantinou. was locked in his office and did not speak to anyone not even for accepting wishes of his colleagues for his name day. He was exchanging letters with his European counterparts, until all these were put forth in the Memorandum signed on May 10, 2010. During this period, Eurostat was trying to figure out if the 2009 deficit was 6, 12 ... or 16% of GDP.

Today all these are not a distant memory, but a benchmark for our country and  these are the “weapons” that Mr. Yiannis Stournaras wants to use in order to claim the Greek debt relief and cheaper borrowing from the international markets.

The next step of the government, one day after the announcements by Eurostat, will be to raise formally for the first time the issue of Greek debt during the Euro Working Group meeting, which is expected to approve the disbursement of 6.3 billion, confirming that the Greek program is running successfully over 92%.