Greece - the addict of Europe

For those of you who missed it, here is a post from my other blog

Greece - the addict of Europe

Greek statistics. Those two words are now synonymous with false bookkeeping, and in a way epitomises the state of affairs in the Balkans. The past year has seen the Greek economy and its reputation hit rock bottom.

But how did Greece in particular reach this state. In February of 2009 the then Karamanlis government and Economy and Finance Minister Yiannis Papathanassiou, announced that the budget deficit in 2010 would be 'reduced' to 3.2 percent of gross domestic product (GDP) from a targeted 3.7 percent in 2009. One change of government later the deficit was revealed to be the largest in the euro-zone and projections predict that the deficit will reach 13.7% in 2010.

Read on.