JAPONICA PARTNERS founder Paul Kazarian sees something that neither Brussels  bureaucracy nor the hedge Funds bonds are able to see and speaks about it in much detail to Newmoney.gr.

The Greek debt with the help of international public sector accounting standards reaches an Index (Net debt to GDP) of a significantly lower than 60%. As a result the index amazingly stands at 18%.

Paul Kazarian is a man who Invested in Greece and has run  an international campaign for Greece.

He has bought over 3 billion dollars worth of Greek bonds and at the same time he began to imprint the Greek debt based on the standards of the Public Sector.

He made this difficult task with great care and organization. He traveled a lot in order to collect plenty of information and hired four US audit firms which came to the conclusion that the debt is much greater than official stated debt.

For example, if the Greek government builds a bridge worth 200 million euro, the government borrows the money and  after two years of the bridge operating it creates the revenue. So the borrowed money is not really 200 million euro, since they will be revenue for the following 98 years.

According to the IPSAS standards, the debt does not include only the loan amount.

Further, the founder of JAPONICA PARTNERS gathered the amounts paid to Greece.

Private investors (bondholders) gave 199 billion euro and after debt relief the current value is 50 billion euro. The formal sector gave through transnational loans 243 billion euro and again after debt relief the current value today is 52 billion euro.

After the post dept relief ease, the overall losses of creditors amount to 340 billion euro of a total 443 billion euro.

According to Kazarian, creditors have withstood 340 billion euro.

Among other and a further analysis, Paul Kazarian showed us a paid advertisement by the Greek government in an American newspaper.

Among the lines of the text says”  “Greeks are unable to pay their debts” .

The above line made the Armenian wonder. “Why are you making such a poor communication abroad”? ” How will you attract funds like that?

Finally, when newmoney.gr reminded him that Greece has once before lied about its debt, he replied by simply saying “but even now you are not saying the truth about debt”…