Greece deficit revision sparks default concerns from analysts

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Greece's budget deficit for 2010 has been revised upward to 10.5% of its annual economic output, as analysts dispute how the beleaguered sovereign could restructure its debt.

Data published by Eurostat on Tuesday shows that Greece's deficit as a percentage of GDP decreased from 15.4% in 2009 to 10.5% in 2010. However, the figure is far higher than initial estimates by the European Commission of 9.6% in 2010, and the 8% target agreed by the IMF and the European Union under the terms of the countr

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