Greece’s 10-year bond yield has hit 8.13%, the highest level since 1998, after it was learned that the country’s budget deficit was even worse last year than originally thought.
The EU’s statistics office said today Greece’s deficit was 13.6 per cent last year, higher than the government’s April 7 forecast of 12.9 per cent. The EU forecast a shortfall of 12.7 per cent in November. Ireland overtook Greece as the EU nation with the largest deficit, with its deficit revised up to 14.3 per cent, the Luxembourg-based Eurostat said.
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