[stayjin]

It is not that simple. Have you ever wandered why counties do not have to issue balance sheets at the end of every fiscal year( or at least before every election) ?

Do you understand how easy it would be to judge how a government performed by comparing two of these? And ask all the right questions, exactly as MS investors do with the "developers, developers, developers" CEO?

[justincormack]

Thats just because they dont want to share the information transparently. New Zealand started issuing a real balance sheet quite some time back, and it is very interesting. It is hard to do as you need to estimate long term liabilities etc.

Here is a summary position and you can find the rest on the site http://www.treasury.govt.nz/government/longterm/fiscalpositi...

All governments should do this....

[nodata]

This is excellent. What prompted them to do this?

[justincormack]

I forget the original reasons, it was some time back. There is a statement here: http://www.treasury.govt.nz/budget/2010/is/04.htm

I seem to remember it was partly prompted by a new government wanting to prove they were fiscally responsible, but also I think there has always been quite an awareness as there is a huge earthquake reconstruction fund (now entirely in external assets) in case of disaster, which would prompt some thinking about assets and liabilities.

[stayjin]

This is excellent indeed.

Actually, it might come as a surprise but Greece seems to have a lot of public assets which would give it a much better clear position than many other countries in Europe if they were to be compared.

However of course, it is no secret nowadays that even with a great clear position, if cash flow is not positive you may easily go under.