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Austerity Measures Must Be Implemented, Venizelos Says

Greek austerity measures for 2011 and 2012 have been legislated and need to be implemented to remove the country from “mortal danger,” Finance Minister Evangelos Venizelos told reporters in Thessaloniki late yesterday, according to an e-mailed transcript sent by the Athens-based Finance Ministry.
New austerity measures required between 2013 and 2015 will total about 1 percent of gross domestic product on average in each of the three years, he said.
(source: Bloomberg)

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