I have, in the past, been critical of the way Greece’s public debt has been accounted for, given its significance for the Greek economy and society and for the future of the eurozone. It remains a mystery how highly regarded commentators and institutions continue to refer to a debt-to-GDP ratio of 175%, when on an IPSAS basis the number would be around 70%. And even more of a mystery when account is taken of the €91bn in financial assets that Greece had at end 2013, which would reduce net debt to less than 20% of GDP!