The Associated Press October 20, 2010, 6:19AM ET

Greece: deficit revision won't cause new wage cuts

Greece's prime minister says his Socialist government will not impose further wage or pension cuts or increase tax rates despite a budget deficit revision expected as early as this week.

George Papandreou on Wednesday said the Greek people had already made "unprecedented sacrifices."

The European Union's statistics agency, Eurostat, is to further revise Greece's deficit and debt figures for 2006-2009, with Greek authorities saying the deficit for 2009 is expected to rise to about 15 percent or higher from the current projection of 13.6 percent of gross domestic product.


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