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Eurozone extends deadline for Greece to budget targets

The Eurozone has agreed to allow two more years for Greece to meet its deficit-reduction targets. The Eurozone finance ministers met in Brussels and endorsed a proposal to extend from 2014 to 2016, as demanded by international lenders. The two-year

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Greece unemployment rate hits a record high

The latest official figures show Greece’s unemployment rate to be at 25.1%, with austerity cuts continuing and Greece is enter another year of recession. The unemployment level among young people has reached 54.2%, the 15-24 age group being the worse-affected

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Greek government in “basic agreement” on austerity package

Greece coalition parties have arrived to a “basic agreement” on the austerity package for 2013-2014 which includes spending cuts worth of at least USD 14.8bn. The new cuts are a condition for Greece in order for them to be eligible

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Greece Will Need More Time to Repay its Debts

Minister Antonis Samaras expects the economy to shrink by 7%, greater than the 5% forecast by the country’s Central Bank. Mr. Samaras said that the country has been in recession for five years, and it is not easy to return

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Greek Syriza leader Tsipras attacks EU and Merkel

Greek left-wing leader Alexis Tsipras has accused the EU and German Chancellor Angela Merkel of “playing poker with European people’s lives” by insisting on austerity measures. Mr Tsipras’ Syriza bloc is predicted to come first in new elections called for

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Greek governing parties ‘lose majority’ at polls

Greece’s two governing parties, which back tough austerity measures, have lost their parliamentary majority in Sunday’s election. With almost all votes counted, centre-right New Democracy is leading with 19%, down from 33.5% in 2009. Centre-left Pasok is in third place

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Greek governing parties 'lose majority' at polls

Greece’s two governing parties, which back tough austerity measures, have lost their parliamentary majority in Sunday’s election. With almost all votes counted, centre-right New Democracy is leading with 19%, down from 33.5% in 2009. Centre-left Pasok is in third place

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