Greece's 2014 fiscal gap suddenly appears bigger, much bigger

Economy

Just one week after the Greek Finance Ministry submitted to Parliament the draft budget for 2014 - which sees a primary surplus of 2.9 billion euros, or 1.6 percent of GDP – European Central Bank executive board member Joerg Asmussen appears to have put the economic plan in some doubt, while testing the limits of Finance Minister Yannis Stournaras’s positivity.

It is widely known from previous reviews that in troika jargon when a mission is stopped until “technical work is completed” it means there is a disconnect between the two sides and a gap in views which needs to be bridged, usually so the final, shared ...

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