EU says Greece to miss deficit targets

Saturday 27 February 2010 01:00

Greece's Prime Minister called for more solidarity from the European Union over the country's debt crisis yesterday and announced plans to visit Germany, whose backing would be vital for any EU financial aid, next week.

George Papandreou said the worst fears about Greece's economy had been confirmed after an EU mission said Athens would miss its deficit-reduction targets unless it carried out more of the spending cuts that have sparked street protests. Greece wants to restore investor confidence after revealing that the previous government understated its budget deficit by half. "We must do whatever we can now to address the immediate dangers today. Tomorrow it will be too late, and the consequences will be much more dire," Mr Papandreou told parliament.

Join our new commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

View comments