Greece to Miss Deficit Targets Despite Austerity
October 3rd, 2011Via: Reuters:
Greece will miss a deficit target set just months ago in a massive bailout package, according to government draft budget figures released on Sunday, showing that drastic steps taken to avert bankruptcy may not be enough.
The dire forecasts came while inspectors from the International Monetary Fund, EU and European Central Bank, known as the troika, were in Athens scouring the country’s books to decide whether to approve a loan tranche. Without that installment, Greece would run out of cash as soon as this month.
Posted in Economy | Top Of Page
The only thing about this I don’t understand is how this apparently came as a surprise. As I like to say, Hope is not a Strategy.