Greek authorities announced that the country’s budget deficit will be reduced twice, in 2011 and 2012, but this is still not enough to meet the requirements set by the European Union and the International Monetary Fund (IMF).
The planned deficit of the Greek budget for 2011 is 8.5% of GDP – and is two percentage points lower than originally expected power (10.5% of GDP), but Greece will not succeed to bring it to the level of 7.6%, as required by the lenders.







