Greek debt higher than expected, EU audit reveals

Greece has incurred a much larger budget deficit and levels of public debt than the country had earlier estimated, EU audit figures revealed on Monday (15 November) morning, in an adjustment that could kick off another round of sell-offs not just in the Greek bond market but in those of other creaking eurozone peripheral states.

The republic's budget deficit for 2009 amounted to 15.4 percent of gross domestic product, according to numbers from Eurostat, the EU's audit office, sharply up...