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Monday, October 1, 2012

Greek 2013 budget sees sixth year of recession

Protesters shout slogans outside the Finance Ministry in AthensATHENS (Reuters) - Greece will bring forward painful budget cuts to end a decade of primary deficits while grappling with a sixth year of recession, according to a 2013 budget draft aimed at satisfying international lenders. The government unveiled a tough austerity budget after Finance Minister Yannis Stournaras met the so-called "troika" of International Monetary Fund, European Commission and European Central Bank inspectors, whose approval is vital to unlock the next slice of aid, urgently needed to avoid bankruptcy. Greece will aim for a primary surplus before debt service of 1. ...



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