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Monday, October 1, 2012

Greece recession to enter 6th year, budget shows

Supporters of the small right-wing Independent Greeks party, gathered outside the finance ministry before a meeting between Greece's finance minister and debt inspection teams from the International Monetary Fund, European Central Bank and European Commission, known as the troika, in Athens, Monday, Oct. 1, 2012. Greece's finance minister Yannis Stournaras will submit the 2013 draft budget to Parliament on Monday, as the government resumed negotiations with international creditors over a two-year additional austerity package. (AP Photo/Thanassis Stavrakis)Greece's brutal recession is set to extend into a sixth year in 2013, when the economy will contract by another 3.8 percent, according to forecasts in the draft budget submitted to Parliament on Monday.



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