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Wednesday, February 17, 2010

Greece Nears Economic Collapse

The country’s national debt is 300 billion Euros (112 % of GDP), and the budget deficit is nearly 13 percent. Greek media says that by spring the country will require 54 billion Euros. The lion share of this amount was to be given to Greece by the EU that is not pleased with a possibility of a default in one of its countries. However, there is information that Papandreou is going to ask Russia for 10 billion Euros loan

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