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Greece asks for more time on austerity
 

The Greek government plans to request a two-year extension on the austerity program designed to shore up its credit worthiness in exchange for bailout money. Greece, now in its fifth year of recession, has to come up with $14 billion in additional spending cuts by 2014, but now wants to spread the cuts over four years, to 2016, according to a document obtained by the Financial Times. The financial upheaval, including job losses, pension cuts, and elimination of government services, is taking a toll, as Greece and other countries across Europe report thousands of "economic suicides" over the last year.

 

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