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Eurosceptic Bloggers

Thursday, September 28, 2006

Meeting Targets

Greece is currently unable to meet its targets for budget deficit, that Maastrict require of it. So what does one do? Well fiddle obviously:

Greece will revise upward its gross domestic product for the past six years by as much as 25 percent a quarter by including parts of its underground economy.
The fact that a government's ability to service its debt is not helped by unregistered economic activity is regarded as irrelevant. However, as the EU can't even sign off its own accounts, I guess they can't complain.

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