Japonica partners, the entrepreneurial investment firm founded by American Armenian Paul Kazarian placed on Thursday in The New York Times, amongst other news outlets, an ad, advocating the need for Greece to build trust and confidence with all stakeholders through the “most important reform” – transparent reporting of fiscal data.

Read below the full text of the ad, as it was posted in the New York Times

Ask Greece Ministers the Right Questions

For prosperity in Greece, the Greece ministers’ first priority is to build trust and confidence with all stakeholders. To build trust and confidence, Greece ministers must make transparency and accountability of government finances their most important reform. And, the starting point for transparency and accountability in Greece is accurate government financial information obtained through international public sector accounting standards and audits.

Help educate Greece ministers. Ask them the right five questions:

#1. Was 2013 Greece net debt under international accounting standards 18% of GDP and approximately 1/4 of EU post-programme countries?
#2. Was 2013 Greece cash interest expense approximately 3.8% of revenue and 1/3 of EU post-programme countries?
#3. Does Greece receive approximately €7 billion per year in EUannual funds and has Greece avoided net debt of over €160 billion by receiving “free” EU annual funds since 1996?
#4. Is the opportunity cost of misguided financial management by the Greece government €35 billion to €45+ billion since 2012?
#5. If Greece primary balance as a % of GDP equaled the highest of EU post-programme countries through 2017, would net debt remain approximately 18% of GDP?

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