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Sunday, September 9, 2012

Greek gov't fails to agree on spending cuts

International Monetary Fund (IMF) mission chief Poul Thomsen arrives for a meeting between Greece's Finance Minister Yannis Stournaras and the debt inspectors from the European Central Bank, European Commission and International Monetary Fund, known as the troika at Greece's Finance ministry in Athens, on Sunday, Sept. 9, 2012. Greek Prime Minister Antonis Samaras said that the last round of austerity measures contains painful and unjust cuts in wages and pensions but is necessary for Greece to restore its credibility and continue to receive much needed funding from its creditors.(AP Photo/Petros Giannakouris)The leaders of the three parties in Greece's coalition government failed to agree Sunday on a package of spending cuts worth €11.5 billion ($14.7 billion), a raft of measures the prime minister had said is crucial to restoring the country's financial credibility and sustaining its bailout funding.



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