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HONG KONG (MarketWatch) — The Greek government said Sunday it won’t meet its deficit target this year, while it pushed ahead with a plan to cut thousands of public-sector jobs as demanded by European lenders, according to reports.
Parliament may vote on the package as early as Monday, according to reports.
LOS ANGELES (MarketWatch) — Asian stock markets raced lower in Monday trade, falling sharply on rising concerns of a Greek sovereign default, and with Hong Kong weighed by additional worries over China’s financial health.
But, funnily enough, Greece did not want the Euro so who forced it on them?
LONDON (CNNfn) - The European Commission recommended Wednesday that Greece should become the 12th member of the euro zone, paving the way for EU government leaders to approve Greece's adoption of the common European currency on Jan. 1, 2001.
The Commission, the executive arm of the European Union, said Greece passed all economic tests needed to participate in the single currency launched in January 1999 by 11 of the 15 member states. Greece was the only EU member that failed on grounds of economic performance to join the euro zone at its inception. Since then, Athens has managed to slash its budget deficit, control inflation and reduce debt.