The finance ministry on Thursday reported that state revenues were off target by 11.9 percent in the January -August period, a shortfall of 4.15 billion. Total revenues stood at  30.76 billion euros.

As a “qualifier”, the finance ministry’s stated that 1.72 billion euros of the shortfall was due to the failure to transfer profits from Greek bonds from the Eurosystem.

On the “brighter side”, the finance ministry reported a primary surplus of 3.79 billion euros for the same period, with the initial target being 3.26 billion euros.

Of course, as any … Swabian housewife will tell you, if you stop paying certain obligations, even if your revenues fall short, you’ll still post a primary surplus.