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Greece agrees new spending cuts

02.08.12 @ 09:45

  1. By EUOBSERVER

Greece on Wednesday agreed to new budget cuts totaling €11.5bn applicable for 2013 and 2014. The cuts entitle Greece for the next €31.5bn instalment of its €130bn loan from the EU and the IMF. Finance minister Yannis Stournaras said the cuts are necessary to keep Greece in the eurozone.

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