EU: Greece May Have Missed June Primary Balance Target : WSJ
BRUSSELS(Dow Jones)--Greece is at risk of missing a key budget target in June, European Union experts said in a report, a sign of the uphill struggle the country faces as it tries to get its deficit reduction plans back on track.The report, prepared by European Commission budget experts with input from European Central Bank officials and published over the weekend, says that Greece could miss its June target for its primary budget balance, a measure of the government deficit that excludes interest payments on outstanding debt
..oh did you catch that?
"Greece could miss its June target for its primary budget balance, a measure of the government deficit that excludes interest payments on outstanding debt"
Love this line from zero hedge...
""Government revenue faces "significant" shortfalls that have only partially been offset by lower spending and delayed payments, the report says. "As a result, the quarterly performance criterion on the primary balance could be missed already in June." June. As in before the disbursement of cash contingent on the primary balance being met...
Lies, lies, lies...i guess the EU/IMF overlooked/ignored this detail when planning the latest bailout...Can we all agree that this whole game is getting old? I mean, lets face it, every developed nation on this earth is beyond broke. The US, EU, and Japan are broken systems and need a reset...
