As Greece continues its negotiations for an emergency bailout with the IMF and the Eurozone, the European Union’s statistics office has announced that Greece’s deficit is much higher than originally reported. According to EU officials, Greece’s deficit is actually 13.6 percent of the country’s Gross Domestic Product and not 12.7 percent. Worse still, the EU statistics office says that there is a chance that even this revised figure may be too low.
Source: BBC News
