Greece: financial reporting requirements post bailout

Elizabeth Paul, partner at PricewaterhouseCoopers in the US, examines the financial reporting implications of Greece’s bailout package and how companies with investments in Greece need to deal with accounting requirements in light of the third bailout agreement 

 

Greece and the rest of the eurozone have agreed to a bailout, saving Greece from an exit from the euro. The bailout package calls for a series of austerity measures, including streamlining the pension system and boosting tax revenue, especially from VAT, reforming the labour market, privatising the electricity network and extending shop opening hours. The package will also add more debt and extend payments due on the existing debt. Although Greece will remain in the euro, its economic challenges remain.

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