Greece outlines new austerity as debt load rises
ATHENS, Greece – Greece's government on Wednesday outlined the new austerity measures it intends to take over the next two years, a series of painful spending cuts and tax hikes that its international bailout creditors are demanding in exchange for rescue loans.
The country's finance minister also submitted a revised draft budget for 2013, with figures predicting the debt load will increase sharply as the recession deepens into a sixth straight year.
Unions responded by announcing a 48-hour general strike for next week, when the new measures are expected to be voted on in Parliament.
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