Greece’s Deficit Revised to Largest in EU as Debt Tops Italy
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Greece had the euro region’s largest budget deficit and public debt last year after a revision by European Union authorities who said their concerns about the country’s economic statistics were now resolved.
Greece’s budget shortfall last year was revised to 15.4 percent of gross domestic product from 13.6 percent, surpassing Ireland’s 14.4 percent shortfall, Eurostat, the EU’s Luxembourg- based statistics office, said in a report today. The debt was revised to 126.8 percent of GDP, overtaking Italy at 116 percent.