Saturday, April 28, 2007

Greek minister resigns

AP reports
Greece's employment minister resigned Saturday after weeks of criticism that followed the discovery that a state pension fund had overpaid €4.8 million (US$6.4 million) for state bonds.
According to the Greek news this means that millions of state pension payments are in jeopardy. This surely will worsen state finances in the future and Greece again will fail the Maatricht criteria. The big question is how this could stay uncovered for so long.

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