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Wednesday, June 22, 2011

Greece prepares to slash budget after confidence vote

 Greek riot police confront a protester during a general strike against government austerity plans in Athens.
Athens, Greece (CNN) -- Greece is set to press ahead with new taxes, public-sector job cuts and the sale of everything from airports to gaming licenses after Greek Prime Minister George Papandreou narrowly survived a confidence vote early Wednesday.

Papandreou is planning to cut 150,000 government jobs, slash the salaries of those who keep their posts, and slap new taxes on property, yachts and swimming pools.

He's trying to win confidence from international lenders in order to get a second bailout package to keep the government from defaulting on debts.

But the austerity package is very unpopular. Weeks of protests forced Papandreou to shuffle his cabinet last week, leading to the confidence vote, which he won 155-143.

From cnn news full news here 


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