BRUSSELS (AFP) – Greek public deficit and debt figures for the four years to 2009 shot up markedly Monday, days after Prime Minister George Papandreou said a delay in bailout repayments may be necessary.Following detailed Brussels audits of Athens' books, the European Union released massively revised national figures that saw the headline deficit for 2009 rise to 15.4 percent of gross domestic product, a big jump from the 13.6 percent announced in April.The rise was reflected in each of the previous three years also -- with the numbers jumping from 3.6 to 5.7 percent for 2006, 5.1 to 6.4 percent in 2007 and 7.7 to 9.4 percent throughout 2008 -- showing the rapid degradation of Greek government finances in the run-up to its calling in EU and International Monetary Fund aid.EU data agency Eurostat said it was lifting all previous reservations on Greek figures after the exhaustive audit.In Athens, the Greek government Monday estimated 2010 public deficit at 9.4 percent of GDP.The debt figures, which show accumulated annual deficits, hit 126.8 percent of GDP in 2009 -- well up from the 115.1 percent published in April. Again, each of the previous three years' figures were raised significantly.Socialist Prime Minister George Papandreou said on Sunday that talks were underway on the possibility that Greece might be able to prolong the period of repayment of the rescue funds beyond the intended date of 2015.Representatives from the EU, the European Central Bank and the International Monetary Fund were due in Athens on Monday to assess efforts so far to stabilise public finances.The government on Thursday is to present its 2011 budget to parliament.The EU-ECB-IMF team will decide at the end of its mission if a third instalment of its 110-billion-euro (150-billion-dollar) rescue package will be made available to Greece.This instalment is worth 9.0 billion euros.The country has already received 30 billion euros in exchange for measures aimed at curbing spending, notably through radical austerity measures and deep reforms of the economy.The Greek economy shrank by 4.5 percent in the last 12 months, official data showed on Friday. Gross domestic product contracted by 1.1 percent in the third quarter.The Greek finance ministry highlighted the fact that Eurostat "fully validates Greek data and withdraws all reservations," in a statement also released in Brussels.It said the revisions constituted "a major step to restore transparency in fiscal management and to eliminate controversies over the quality and the accuracy of Greek fiscal statistics."The deficit figure for the 16-state euro area was unchanged from April, at 6.3 percent of GDP in 2009. The EU's stability and growth pact says that states can only run deficits up to three percent of GDP and carry debts of 60 percent.As Ireland edged ever closer Monday to becoming the second eurozone nation to require financial assistance from partners, tweaks to the EU's Lisbon Treaty are being worked out by president Herman Van Rompuy's office as the bloc draws up new sanctions aimed at preventing a further debt crisis.STERNENSTAUBX02 Cpcrecords music.Destiny (including Aces Delight remix) album.Intersperse vs Nu Moon mp3 songs download.Music albums.Vinyl Surgery Compiled by Carson Plug mp3 albums downloads
Greek deficit and debt figures shoot up
BRUSSELS (AFP) – Greek public deficit and debt figures for the four years to 2009 shot up markedly Monday, days after Prime Minister George Papandreou said a delay in bailout repayments may be necessary.Following detailed Brussels audits of Athens' books, the European Union released massively revised national figures that saw the headline deficit for 2009 rise to 15.4 percent of gross domestic product, a big jump from the 13.6 percent announced in April.The rise was reflected in each of the previous three years also -- with the numbers jumping from 3.6 to 5.7 percent for 2006, 5.1 to 6.4 percent in 2007 and 7.7 to 9.4 percent throughout 2008 -- showing the rapid degradation of Greek government finances in the run-up to its calling in EU and International Monetary Fund aid.EU data agency Eurostat said it was lifting all previous reservations on Greek figures after the exhaustive audit.In Athens, the Greek government Monday estimated 2010 public deficit at 9.4 percent of GDP.The debt figures, which show accumulated annual deficits, hit 126.8 percent of GDP in 2009 -- well up from the 115.1 percent published in April. Again, each of the previous three years' figures were raised significantly.Socialist Prime Minister George Papandreou said on Sunday that talks were underway on the possibility that Greece might be able to prolong the period of repayment of the rescue funds beyond the intended date of 2015.Representatives from the EU, the European Central Bank and the International Monetary Fund were due in Athens on Monday to assess efforts so far to stabilise public finances.The government on Thursday is to present its 2011 budget to parliament.The EU-ECB-IMF team will decide at the end of its mission if a third instalment of its 110-billion-euro (150-billion-dollar) rescue package will be made available to Greece.This instalment is worth 9.0 billion euros.The country has already received 30 billion euros in exchange for measures aimed at curbing spending, notably through radical austerity measures and deep reforms of the economy.The Greek economy shrank by 4.5 percent in the last 12 months, official data showed on Friday. Gross domestic product contracted by 1.1 percent in the third quarter.The Greek finance ministry highlighted the fact that Eurostat "fully validates Greek data and withdraws all reservations," in a statement also released in Brussels.It said the revisions constituted "a major step to restore transparency in fiscal management and to eliminate controversies over the quality and the accuracy of Greek fiscal statistics."The deficit figure for the 16-state euro area was unchanged from April, at 6.3 percent of GDP in 2009. The EU's stability and growth pact says that states can only run deficits up to three percent of GDP and carry debts of 60 percent.As Ireland edged ever closer Monday to becoming the second eurozone nation to require financial assistance from partners, tweaks to the EU's Lisbon Treaty are being worked out by president Herman Van Rompuy's office as the bloc draws up new sanctions aimed at preventing a further debt crisis.STERNENSTAUBX02 Cpcrecords music.Destiny (including Aces Delight remix) album.Intersperse vs Nu Moon mp3 songs download.Music albums.Vinyl Surgery Compiled by Carson Plug mp3 albums downloads