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Wednesday, 29 June 2011

Greek government wins vote

Greek PM Papandreou

The Greek government of George Papandreou has just won the vote in the Voulli (Parliament) with a small majority. This means that the strict austerity measures have been passed and that the further loans from the IMF and the EU will be released.

It remains to be seen whether the people of Greece will cooperate with rising taxes and major cuts. This is a major crisis which questions whether the current financial system is acceptable. In the meantime demonstrations on the streets of Athens and other major cities continue.

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