Brussels discovers new €15bn black hole in Greece’s finances

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Brussels discovers new €15bn black hole in Greece’s finances

• Revelation raises pressure on stricken economy• EU states to be asked for further financial help• Ireland cuts growth forecast• Spain demands banks raise €50bn in capitalPressure on Greece’s recession-stricken economy has intensified after international debt inspectors admitted an additional €15bn (£12.5bn) would be needed to fill a newly discovered black hole in the country’s finances. On a day when Ireland’s government reduced its growth forecast and Madrid told Spanish banks to raise an extra €50bn to cover toxic assets, Brussels officials said European countries and state-owned banks would be asked for contributions to help Athens out of its fiscal troubles.