Wednesday, January 02, 2013

SEE? Austerity doesn't work...

Greece recorded a primary surplus in the first 11 months of the year, Deputy Finance Minister Christos Staikouras said Wednesday, showing the government΄s budget cutting efforts are starting to pay off.

"The general government primary balance, without interest spend, in the first 11 months of 2012 showed a surplus of 2.3 billion euros ($3.0 billion), against a deficit of EUR3.6 billion in the comparative period of 2011," a statement from the finance ministry said.