Greece’s deficit for 2010 was a higher-than-expected 10.5 percent for 2010 surpassing the projected 9.4 percent shortfall by more than a full percentage point. The news sent Greek bond yields higher and drew fresh comments suggesting Greece will require further assistance to avoid insolvency.
Ã¢â‚¬Å“I donÃ¢â‚¬â„¢t think that Greece will succeed in this consolidation strategy without any restructuring in the future, or perhaps also in the near future,Ã¢â‚¬Â Lars Feld, a member of the German governmentÃ¢â‚¬â„¢s council of economic advisers, told Bloomberg TelevisionÃ¢â‚¬â„¢s Nicole Itano in Frankfurt. Ã¢â‚¬Å“Greece should restructure sooner than later.Ã¢â‚¬Â
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