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European Debt Crisis

Greek workers protest latest austerity push

Marketplace Contributor Nov 5, 2012
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European Debt Crisis

Greek workers protest latest austerity push

Marketplace Contributor Nov 5, 2012
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Workers are back on strike this morning in Greece, where the government is scheduled to vote on a new round of austerity this week.

Totalling at least $17 billion, the latest round of austerity measures aims to implement new taxes, cut government spending, and decrease payrolls for the police, military, and other national security jobs.

A failure to pass this week’s austerity package could cost Greece its bailout funds, which are largely propping up the country’s economy, and put the goverment at risk of default.

 

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