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Sunday, June 24, 2012

Greek PM cannot attend EU summit due to surgery




Greece has been dependent since May 2010 on funds from two international rescue loan deals with other European Union countries and the International Monetary Fund, in return for which it imposed a series of deep spending cuts and tax hikes.

Anti-bailout parties made massive gains in Greece's May 6 and June 17 elections, with Greeks furious at the drop in living standards by measures that have left the country struggling through a fifth year of recession and sent unemployment spiraling to above 22 percent.

The new government on Saturday issued a policy statement outlining what it aims to change in its bailout conditions, saying it would seek to repeal some taxes, halt layoffs and extend by two years the mid-2014 deadline for tough austerity measures.

"The general aim is no more cuts to salaries and pensions, no more taxes," the statement said, adding the government would not carry out any public sector layoffs.


READ THE ORIGINAL POST AT www.sfgate.com