Eu Members' Debt Forecasts Are Challenged ; Fudging Seen Similar to Greece

Summary

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While Greece's budget shenanigans have been by far the most egregious, it turns out that Athens isn't the only European capital susceptible to fudging its economic forecasts and offering too few budget-cutting details to downplay the severity of its fiscal problems.

The European Commission, the executive arm of the European Union, admonished the governments of Germany, France, the United Kingdom, Italy and Spain this week for using rosy scenarios to grease the skids toward fiscal prudence.

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Eu Members' Debt Forecasts Are Challenged ; Fudging Seen Similar to Greece

"The growth assumptions underlying the budgetary projections are assessed as rather optimistic, implying that budgetary outcomes might be worse than targe...

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