In a large bowl combine all the meatball ingredients, and when well mixed, shape into balls the size of walnuts.
In a large pot, bring the water or stock with ACAIA extra virgin olive oil to a boil, and carefully add the meatballs with a spoon. Add carrots, potatoes, salt and pepper. Lower heat and simmer for approximately 30 minutes. Remove from heat.
To prepare the avgolemono, beat the two eggs, and gradually add the lemon juice while beating. Continuing to beat, add ½ cup of the broth and then the cornstarch, and mix well.
Pour the avgolemono into the soup and heat; stir gently until the broth is thickened.