Greece has said it exceeded budget revenue targets last month - earning the country some respite amid the ongoing fallout from its spiralling debt crisis.
The heavily-indebted nation said revenues increased at an annual rate of 16.6% in January, compared to a target of 10.8%. The positive growth figure was inflated, however, by a one-off corporations tax. Greece's debt woes - its deficit is more than four times higher than eurozone laws allow - has hurt the euro and triggered fears its troubles could spill over into the rest of Europe. The country is looking to issue bonds to pay off debt maturing in April and May. But in the latest setback, some German banks, including Deutsche Postbank, Commerzbank unit Eurohypo, have said they wil...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes