VOULIAGMENI, Greece (AP) -- Greece's finance minister promised Monday to stick with his plan for the country to post a primary surplus in 2012, hours before he was to hold an emergency teleconference with debt inspectors.
Evangelos Venizelos' target of generating more revenues next year than the country spends, before paying off interest on debts, comes despite the ongoing recession in the crisis-hit country.
Greece's economy is expected to contract by about 5.5 percent this year and to shrink further next.
Speaking at a conference south of Athens, Venizelos said the 2012 target was vital for Greece to avoid international "blackmail and humiliation" and came as markets continued to fret about the possibility of an imminent Greek default -- stock markets around the world were down sharply Monday.Yahoo
They are not promising anything, they are going bankrupt. Of course Greece will have a primary surplus, no one is lending to them!
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