The European Union has placed Greece under increased supervision because of its budgetet deficit.

Brussels wants to prevent the issue getting out of control. The Greek budget deficit has increased to 13 percent, way above the three-percent limit for euro-zone countries. Athens has been given until 2012 to reduce the deficit to below three percent.

European Economic and Financial Affairs Commissioner Joaquín Almunia says Greece will have to increase the tax burden for both private citizens and businesses. Greece is facing increasing social unrest. Government workers have called a strike on 10 February against planned salary cuts.

Photo: European Economic and Financial Affairs Commissioner Joaquín Almunia (Wikipedia)