Greek, Portuguese deficits overshoot targets

Despite, or perhaps because, of draconian austerity measures being imposed in Europe's periphery, budget deficit numbers in these countries are only worsening, new data has revealed.

Greece and Portugal saw their budget deficits revised sharply above their promised targets, according to figures released by the EU's official statistical agency, Eurostat, on Tuesday (26 April).

Athens' budget deficit for 2010 was adjusted upwards to 10.5 percent of GDP, up from the previous estimate...