Who could have seen this coming? Aside from people who pay attention to the news:

Increased figures for Greek national debt and deficits covering contested data from 2006 to 2009 will be published this month, the EU said on Wednesday after conducting its first invasive audit.

“The Greek deficit and debt figures will be revised upwards, the figures will be bigger,” said Amadeu Altafaj Tardio, the spokesman for the bloc’s economic affairs commissioner Olli Rehn.

After the EU in April slammed dodgy data provided by Greece’s previous right-wing government, the EU’s data agency Eurostat secured beefed-up powers to launch on-site inspections of countries’ books.

“Several investigations” have now taken place in Greece since these new powers entered into force on August 19, but “after the latest visit, it was evident that some areas of uncertainty remain.”

He added that Rehn was reinforcing resources on the ground in Greece so as to leave “no stone unturned” in the “urgent task” of discovering the true extent of Greek debt.

As Europe moves towards new forms of cross-border economic governance in a bid to better compete with global rivals, the lead balloon of debt is a “heavy burden” for future generations that threatens to hold back all of Europe, the spokesman also implied.

In other words it’s starting to look like all those rumors of the EU weeding out the countries who threaten the Euro are true. It’s interesting that the E.U. made this announcement the day after China announced it would bail out Greece, paving the way for the communist power to set up a client state at the gateway to Europe.

To save their economies will Europe ceded Greece, the birthplace of Democracy, to the Chi-coms? You only need to see the news of the austerity riots to know the answer to that. As American power recedes China is rushing in to fill the gaps and the Liberal/Paleocon/Libertarian dream of ending the American “empire” is coming to an end.