Friday 2 September 2011

Greece to Miss 2011 Budget Deficit Target



1 September, 2011

Greece will overshoot its 2011 budget deficit target by at least one percentage point and its privatization plan, the second key requirement of an EU/IMF bailout plan, is seriously in doubt, a source close to Athens' international lenders said on Thursday.

International Monetary Fund  (IMF), European Union (EU), and European Central Bank (ECB) inspectors started combing through Greece's books and laws on Monday to decide whether it has made enough progress to receive a new tranche of the bailout that has staved off Greek bankruptcy in a crisis that has shaken markets worldwide.

For article GO HERE



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