Greece to miss deficit targets!

Reuters reports the following:

The budget deficit will reach 8.5 percent of GDP this year, missing a 7.6 percent target. It will be brought down to 6.8 percent of GDP next year but will still miss the bailout target of 6.5 percent of GDP.

"Three critical months remain to finish 2011, and the final estimate of 8.5 percent of GDP deficit can be achieved if the state mechanism and citizens respond accordingly," the Finance Ministry said in a statement.