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tagged: bailout, debt, default, eurogroup, George Papandreou, Greece, Jean Claude Juncker, spending controlEurogroup Juncker warns Greece over Control Spending
Posted by keeptalkinggreece in Economy
It looks as if Greece can not quite convince its lenders that the debt-driven country is adamant on proceed to control spending. Eurogrou-Chief Jean Claude Juncker warned Athens of the importance of spending control and said that ”We reminded the Greek authorities that it is important to stick to the targets for public deficits over the coming years”.
Jean-Claude Juncker’s remarks came after the meeting of eurozone finance ministers in Godollo, Hungary, and a day after after news that the country’s budget deficit for 2010 was 10%.
Reuters notes that Juncker’s remarks “underline growing alarm among European Union countries that Greece may be incapable of halting a widening gap between spending and income” and adds that “worries about Greek debt have fuelled renewed speculation that a reluctant Athens may ultimately be forced to hand losses to bondholders.”
Read Full Reuters story Here
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