Monday, October 3, 2011

Greece to miss deficit target, imposes more cuts on workers

The Greek cabinet met Sunday and conceded that it would miss the deficit target set by the IMF and European authorities for the current year. According to the finance ministry, the deficit will exceed the target of €17.1 billion, and would reach €18.69 billion ($25 billion)—about 8.5 percent of gross domestic product.

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