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6/20/11

Greece: Confidence vote reminds Europe that threat of default is far from over

Greece faces a day of political drama as the government faces a confidence vote in parliament tonight against a backdrop of a looming EU ultimatum of more austerity measures in return for the loans the country needs to avoid a disastrous default.

Eurozone finance ministers have given Greece's beleaguered ruling Socialists a fortnight to pass new far-reaching austerity measures or lose out on a €12bn instalment of last year's bailout, and a new €110bn rescue package.

The tougher-than-expected stance from the EU further raised the political temperature in Athens, where tens of thousands of protesters are expected to surround parliament ahead of tonight's vote.

For more: Confidence vote reminds Europe that threat of default is far from over - Europe, World - The Independent

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