The hugely unpopular cutbacks contributed to a recession that has wiped a fifth off the country's output since 2008, while unemployment is at 26 percent â¿¿ the worst in decades.Greece is hoping on Thursday to receive a â¿¬34 billion rescue loan installment, after a six-month delay caused by two national elections and long-dragging negotiations with the EU, IMF and European Central Bank over further demanded cutbacks. Although Athens has now adopted the spending, welfare and income cuts â¿¿ coupled with new tax hikes â¿¿ to get the money it still has to tie up the debt buyback over the next few days and table new tax laws on Tuesday.
Greece Extends Bond Buyback Deadline For A Day
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