public deficit

The consequences of a public deficit which is out of control

Last year’s public deficit exceeded all the predictions of both the government and the experts: it ended up at 5.16%, one full percentage point (almost 10 billion euros) above the target set by Brussels. This huge deviation will have serious consequences and sanctions from Brussels cannot be ruled out.

Markets run wild

MADRID | By JP Marín Arrese Stock markets all over the world are plummeting while bond yields have regressed to fresh lows, as investors grow increasingly worried about growth prospects. Signs the US economy might be slowing down, coupled with the Eurozone plight, paints a gloomy scenario. Yet, the utter lack of direction in policies across the Atlantic stands as the most worrying concern. 


Greece: Public deficit and democratic duty

ATHENS | By Nick Malkoutzis via MacroPolis | A newspaper article on Sunday, quoting an allegedly secret report by officials at Greece’s General Accounting Office and the Hellenic Statistical Authority (ELSTAT), claims that the country’s deficit figure in 2009 was “over-dramatised” (or “sexed up” if you prefer) by the PASOK government that took over in October of that year.