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Economy

xchrom

(108,903 posts)

23. Greece recession and debt problems even worse

Reply to Tansy_Gold (Original post)

Wed Oct 31, 2012, 10:10 AM

Oct 2012

http://www.bbc.co.uk/news/business-20153875

Greece's draft budget for 2013 has forecast a deeper recession and worse debt problems than previously thought.

The economy is now expected to shrink 4.5% next year, instead of 3.8%.

Government borrowing is expected to reach 5.2% of economic output up from 4.2%, and total debt of 189% from 179%.

The Greek finance minister is holding a conference call with eurozone peers to hammer out the economic reforms and spending cuts needed to release the next round of bailout loans.

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STOCK MARKET WATCH -- Wednesday, 31 October 2012 [View all] Tansy_Gold Oct 2012 OP

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Greece recession and debt problems even worse xchrom Oct 2012 #23

STOCKS OPEN HIGHER AFTER HISTORIC 2-DAY CLOSE xchrom Oct 2012 #24

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Unexpectedly? Demeter Oct 2012 #29

that would be a great idea. nt xchrom Oct 2012 #30

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words to live by: Aries! Demeter Oct 2012 #32