Tuesday, June 14, 2011

Greek budget gap widens, misses targets












Greece's central government deficit widened by an annual 13 percent in the first five months of the year, missing an interim budget target under the country's bailout plan, the finance ministry said on Tuesday.


Budget slippages amid a deeper-than-expected recession caused the government last week to agree even harsher austerity measures in a bid to qualify for its second rescue package in the span of one year.



Reuters