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Tuesday, September 11, 2012

Pain of Austerity: Debt-choked Greece braces for more cuts - YouTube

Published on Sep 10, 2012 by 
Getting a new vital cash injection from the EU for debt-choked Greece is far from a done deal.

Leaders of the coalition government have failed to agree on stinging cuts worth roughly 12 billion euros - that the Prime Minister insists are crucial to avoid bankruptcy. But his allies in the government objected to across-the-board cuts on wages and pensions and also criticised plans to trim disability benefits.

At the same time, Greece's foreign lenders, who are currently in the country to assess its progress on meeting the bailout terms, also rejected parts of the austerity measures, with talks set to continue. But the fiercest opposition the cuts have evoked come from the Greeks themselves - as Peter Oliver reports.

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