Economic survey: no economic target achieved in 2011-12

[kakaballi]

Re: Economic survey: no economic target achieved in 2011-12

@Ali_Syed

GDP it seems to be a superficial term, having high GDP might land a country more loans but what would be the situation if the GDP is high but due to low tax to GDP ratio and higher budget deficit the government is not able to meet its financial obligations?

this is what happens… http://www.reuters.com/article/2011/05/09/us-greece-economy-timeline-idUSTRE74844O2011050

“May 18 - Greece receives a 14.5 billion euro ($18.7 billion) loan from the EU and can now repay its immediate debt.”

Ireland and Portugal went later… Spain and Italy are in danger.