Olympics Boost Greek Budget Deficit

World | September 12, 2004, Sunday // 00:00

The past Olympic games will cost Greece a 5.3% budget deficit next year, Prime Minister Costas Karamanlis said. This is almost twice the 3% allowed by the European Union. "The public debt exceeds even the most pessimistic of estimations," according to Karamanlis, who said the previous government was to blame, for concealing the extent of Greece's economic troubles.

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