Joaquin Almunia, the EU’s economic and monetary affairs commissioner, has claimed doubts over the country’s accounts stretch back to 1997, four years before Greece joined the eurozone.
Following the election of a new government in March this year, Athens has admitted that revisions to the country’s accounts showed much bigger deficits than previously reported.
A large part of the costs of hosting the Olympics this summer, social spending and defence procurement had been kept off of the books by use of off-balance sheet loan vehicles.
Budget deficits under the old socialist administration had been predicted to be 1.2% but it is now thought to be nearer 5.3%.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements