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Greece: a possible lengthening of debt repayment

Monday November 22,2010,

The EU and the IMF had granted a major loan of $ 110 billion last May. George Papandreou is considering the possibility of spreading over a larger period the repayment of the loan because he believes the recent weeks have shown the willingness of country to change. Thus, salaries and pensions of public services have been reduced while taxes were increased. The IMF was in favor of opening discussions but Germany opposed it.

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