Greece's 2010 Deficit Blows Past Estimates And Now Germany Calls For It To Restructure

Greece's 2010 deficit has blown past government estimates and above the 10% of GDP range, according to eurostat.

At 10.5% of GDP, above the 9.6% expected by the EU. While austerity may be cutting government costs, low growth is inhibiting the country's ability to generate revenues.

Lars Feld, a member of German Chancellor Angela Merkel's economic council is now calling on Greece to restructure its debt, saying it should take action "sooner than later," according to Bloomberg.

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The country's two-year yields are now at 23.65%.

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