No Lies

EU: No Mistakes Or Lies In Portugal's Fiscal Data

 

BRUSSELS -(Dow Jones)- Revisions to Portuguese fiscal statistics data do not represent any mistakes or lies, the European Union said Friday.

"No, Portugal has not lied on statistics," said a European Commission spokesperson Friday, in response to a reporter's question.

Portugal's statistics agency said this week it plans to make "accounting changes" in a report to be submitted to the European Union's statistics agency, Eurostat, opening the possibility of a wider 2010 budget deficit that could further undermine the credibility of the country's embattled government.

"The Portuguese statistical office is simply implementing European accounting standards," said the EU spokesman. "They are just implementing in an accurate way the European accounting standards."

Portugal's statistics office has been reviewing its 2010 accounts since the EU's Eurostat agency observed that the country hadn't included a 2 billion euro ($2.8 billion) cash injection into Banco Portuguese de Negocios.

Eurostat will assess the updated figures this month, said the spokesman.

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