Greece Revises Up Its 2011 Deficit, Debt Figures



Greece has revised up its budget deficit and debt figures for last year, citing a deeper than expected recession and new data.
The national statistical authority said Monday that government overspending in 2011 was 9.4 percent of GDP, compared with an April estimate of 9.1 percent.

The new debt figure is 170.6 percent of GDP, up from 165.3 percent. The authority also slightly revised up the 2010 deficit and debt figures.
Greece will enter a sixth year of recession in 2013.
(source: AP)


3 COMMENTS

  1. Billions in shortfall…. but hey lets all ignore that… lets all go into the streets and riot for even more government money like our leftist union mobsters keep telling us to do. While we’re  there lets also lawlessly throw rocks at police and lob firebombs at public and private property.

    Then lets hold hand with illegals who violate our laws and rant against against racism, bankers, Germans, fascism, EU, Jews, IMF, “the elite” and anyone else that isn’t far leftist basket case…..to push our Fantasy Island economic policies.  Make sure to cry about “the poor” and wave our red flags as we shamelessly demand….DEMAND… that others pay our way through life.

    Leftist “human rights” at work.

  2. Greek economy will be okay…..when they find golden unicorn horns to sell. 

    Which part of getting rid of few hundred thousand government employees is the only way to get on their feet? Waiting for them to retire is waiting to go from one government tit to the other. No net benefit and even less productive 

  3. What you say is common sense… which seems to be lacking among some of our leftists.

    They frame illegals as “immigrants” and rant “racism” to any attempt to protect our identity and borders….. as they lose jobs to 3rd world illegals willing to work for sweat
    shop wages or engaged in criminal activity.

    They cry and cry about “the poor” as if being poor is a synonym for “victim”… rather than evidence of their own laziness and incompetence.

    They rail government cut backs and against big business….. then ignore it is excessive government spending that drove our economy into the ground and the economy of scale productivity gains of big business is what help economies compete.

    They add words like “social”, “NGO”, “human rights” and “racism” to their sentences and automatically imagine anything that comes out of their mouths is above moral or intellectual scrutiny. 

    In short, for far too long Greece has way too many parasitic leftist extremists. It is precisely for this reason we are weak and why country’s like Israel are strong. While Jews support business, defend themselves and their country from illegals and antisemitism… many of our leftists shamelessly encourage a mooching attitude, support illegals and are bizarrely antihellenic. Utterly irrational.