Tuesday, August 09, 2005

Greece - budget squeeze

Greece is currently running a state budget deficit above the maximum limit allowed in the Eurozone. In the past state spending was a major part of the economy and guaranteed a governments popularity. Now it's not an option. The Prime Minister is advertising a long term growth plan but in the short term the economy is sluggish and painful and unpopular cut backs seem likely as the rules of the Eurozone are enforced more from the Kathimerini Daily...

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