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2/6/12

Greek parties face Monday EU bailout deadline

Technocrat Prime Minister Lucas Papademos put on a brave face as he tried to get leaders of the three parties in his government on Sunday to sign off on the terms of a 130 billion euro ($170 billion) rescue, which Greece needs soon to avoid a chaotic debt default.

Papademos said in a statement the party chiefs - who may face angry voters in parliamentary polls as soon as April - had agreed measures including wage cuts and other reforms as part of spending cuts worth 1.5 percent of gross domestic product.

But a spokesman for the PASOK socialist party said a number of major issues demanded by the "Troika," representing Greece's EU, European Central Bank and IMF lenders, remained unresolved.

For more: Greek parties face Monday EU bailout deadline | Reuters

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