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May 17, 2021

Greek parties close to finalizing austerity deal

Greek Prime Minister Lucas Papademos was due to meet coalition parties in an attempt to seal an austerity agreement to secure a new EU/IMF bailout, the BBC said. The three parties were handed the draft after final touches were agreed bet­ween the PM and EU, ECB and IMF officials. The accord is likely to include a 20% minimum wage reduction, pension cuts and 15,000 civil service lay-offs. Pu­blic transport came to a standstill on Tues­day as an estimated 20,000 people pro­tes­ted against the cuts. At one point a Ger­man flag was set alight outside parliament.

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