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Greece bends to creditors' austerity demands
Greece's government has agreed to longstanding demands by creditors to impose sweeping sales tax hikes and cuts in state spending for pensions. In the text of proposals sent by Athens, and seen by The Associated Press, the government concedes to demands it had previously resisted, mostly on moving various categories of goods and services to higher sales tax rates. Greece is seeking 53.5 billion euros ($59 billion) as part of a new bailout package, according to draft legislation submitted to parliament early Friday. Under the proposal, Athens would receive the loans from the eurozone bailout fund, the European ... (full story)
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