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Greek Parliament Passes Austerity Budget Amid Protests

Greek lawmakers approved the 2011 budget in the early hours of Thursday amid ongoing strikes and protests by labor unions over painful austerity measures and structural reforms introduced to tackle a severe economic crisis.
The budget was approved on a strict party-line vote by the 156 ruling socialist party lawmakers in the 300-strong parliament.
The budget bill introduces a new string of austerity policies, such as further cutbacks on salaries of civil servants, a new freeze on pensions and tax hikes, along with measures to fight tax evasion.
The budget aims to cut the indebted nation’s deficit to 7.4 per cent of GDP from an estimated 9.4 per cent this year.

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