Tomorrow EuroStat Reports European Government Deficits: Expect More Pain For Greece On “Downside Surprise”
Courtesy of Tyler Durden
Tomorrow, the European Commission’s EuroStat agency, which recently was proven to be merely yet another totally incompetent European bureaucracy after the disclosure of how Goldman hid various countries’ debt through assorted swaps and fooled everyone and especially EuroStat, will release its 1st notification of General government deficit and debt. The issue here is that this will be the first glimpse into the Greek situation from outside Greece. And the differential should prove to be simply hilarious… not to GGB holders though. The last thing Greece needs as it scrambles to prevent bankruptcy (or to accelerate it… who knows – Goldman may have taught them well) is for the world to uncover that its ~13% deficit was really double that.