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Greek austerity September 19 2012, 0 Comments

The Greek parliament has today voted to accept the government’s austerity package, which includes deep spending cuts and wide-ranging tax increases amounting to 28 billion euros. This will enable the Greek government to borrow a further 12 billion euros – the next tranche of the estimated 120 billion euro IMF/Euro-area bailout – allowing Greece to pay off its debts until at least 2014 and avoiding bankruptcy.