We all know the background story – Greece had certain problems with its statistical data record, so to speak. Now the Council has adopted an amendment of the regulation on statistical data that is used by the Commission in the excessive deficit procedure. From now on the Commission service Eurostat will be entitled to have access to the accounts of government entities at central, state, local and social security levels, including the provision of underlying detailed accounting information, relevant statistical surveys and questionnaires and further related information.
This is a classical example of an ex-post strengthening of the regulatory framework. Let’s hope it works this time.