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Tuesday, October 23, 2012

Greek austerity plan gets bumpy ride from smaller parties

ATHENS (Reuters) - A concession from Greece's lenders on Tuesday failed to win over two junior parties in the ruling coalition who blocked agreement on a vital austerity package because they oppose labor reforms. The Democratic Left and PASOK Socialist parties in Prime Minister Antonis Samaras's conservative-led coalition have long opposed unpopular proposals from European Union (EU) and International Monetary Fund (IMF) lenders to cut wages, reduce severance payments and scrap automatic wage hikes. ...

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