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Saturday, September 8, 2012

Premier: Painful cuts will restore credibility




THESSALONIKI, Greece (AP) — Greek Prime Minister Antonis Samaras says the final round of austerity measures contains painful and unjust cuts but is necessary to restore Greece's credibility and continue to receive funding from creditors.

Debt-laden Greece is in the fifth year of a deep recession that has seen its economy shrink by 20 percent and the jobless rate soar to 24.4 percent in June.


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