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Economy

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Greece To Vote On Tough Salary, Pension Cuts

February 28th, 2012 2:54 pm Associated Press

ATHENS, Greece (AP) — Greek lawmakers are to vote on a package of tough salary and pension cuts Tuesday as part of measures needed to secure the payout of the debt-ridden country’s second international package of bailout loans.

The parliamentary vote comes a day after the Standard & Poor’s ratings agency downgraded Greece’s credit rating to “selective default” over a debt writedown deal with private creditors that is an integral part of the second bailout.

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