Greece will vote its 2013 Budget on Sunday 11 November, providing austerity measures of EUR9.2bn. The government now estimates that the debt/GDP ratio will surge to 189.1% in 2013 and targets a budget deficit of 5.2% of GDP with a primary surplus of 0.3% of GDP. We expect that the Parliament will approve the Budget although with a tiny majority as in the vote on the implementation law this week. The meeting of the Eurozone Finance Ministers (Eurogroup) on Monday 12 November in Brussels will probably just be a stepping-stone towards a formal decision by the Troika later this month. Even if initially it was hoped that ... (full story)