Most of the differences in the revised budget deficit numbers were due to a temporary change of accounting practices by the new government, i.e., recording expenses when military material was ordered rather than received. However, it was the retroactive application of ESA95 methodology (applied since 2000) by Eurostat, that finally raised the reference year (1999) budget deficit to 3.38% of GDP, thus exceeding the 3% limit. This led to claims that Greece (similar claims have been made about other European countries like Italy) had not actually met all five accession criteria, and the common perception that Greece entered the Eurozone through "falsified" deficit numbers. COUNT 5
QSN1 What were the majority of the differences in the revised budget due to the temporary changing of? ANS1 accounting practices QSN2 What did retroactively applying the ESA95 methodology result in raising the budget deficit to? ANS2 3.38% of GDP QSN3 By how much did the budget deficit of Greece exceed the 3% limit in the reference year of 1999? ANS3 .38% QSN4 What other European country were claims similar to those levied against Greece made? ANS4 Italy QSN5 When were expenses recorded by the new government? ANS5 when military material was ordered rather than received