Sunday, April 20, 2014


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Greece Gets More Time To Reform Economy

Prime Minister Antonis Samaras addresses parliamentarians before a voting for the 2013 budget in Athens on November 11.Prime Minister Antonis Samaras addresses parliamentarians before a voting for the 2013 budget in Athens on November 11.
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Prime Minister Antonis Samaras addresses parliamentarians before a voting for the 2013 budget in Athens on November 11.
Prime Minister Antonis Samaras addresses parliamentarians before a voting for the 2013 budget in Athens on November 11.
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Eurozone finance ministers meeting in Brussels have postponed releasing more money to Greece.

International lenders and the ministers agreed to give the country two more years -- until 2016 -- to reduce its budget deficit.

The Greek parliament has recently passed more austerity measures and a tough 2013 budget.

However, the ministers on November 12 postponed the decision to release a badly needed installment of 31.5 billion euros ($40 billion), saying they will meet again to discuss releasing the funds on November 20.

The country has already received 150 billion euros ($193.5billion) out of a 240 billion-euro ($310 billion) rescue package in exchange for making tough budget cuts and reforms to its labor market and bureaucracy.

Greek officials say Athens will run out of money for day-to-day payments in days.

One-quarter of Greeks are unemployed, with the country in a sixth year of a deep recession.

Based on reporting by Reuters and AP

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