Accounting, Greek Debt, and Realism (Part Three)

In a Vox blog post, Julian Schumacher and Beatrice Weder di Mauro offer meaningful Greek government debt statistics. They quote an ESM estimate according to which the 2012 restructuring of Greek debt owed to official lenders amounted to a 50% haircut (see this previous blog post). And they argue that the net present value of Greek government debt relative to GDP amounted to 93% (presumably in 2013 or 2014), in line with other estimates (see this previous blog post).