Media playback is unsupported on your device

Greece will not hit its deficit targets

After a late cabinet meeting on Sunday, the Greek government has announced it will miss the budget deficit targets set by the International Monetary Fund (IMF) and the European Union.

It does not put Greece in a strong position when it desperately needs to secure the next tranche of funding from the EU, IMF and European Central Bank.

But the Greek government argues the recession is deeper than expected.

Nigel Cassidy reports.

  • 03 Oct 2011