Sunday, 26 June 2011

EU Vows to Rescue Greece in Exchange for Papandreou’s $111 Billion Savings

http://www.bloomberg.com/news/2011-06-23/eu-vows-to-rescue-greece-in-exchange-for-cuts.html

Already at a European record of 142.8 percent of gross domestic product, Greek debt is set to rise to 166.1 percent next year, the EU predicts. The effort to cut a budget deficitthat is about 10 percent of GDP has helped deepen a third year of recession.

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