Greece to approve new cuts to secure cash, debt relief

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Greece to approve new cuts to secure cash, debt reliefGreece's parliament on Thursday was to approve a new round of austerity cuts, hoping to secure a pledge of debt relief and loan disbursements by the country's EU-IMF creditors this month. Leftist Prime Minister Alexis Tsipras has a slim majority in parliament sufficient to pass the bill in the vote expected around midnight. Tsipras grudgingly accepted to legislate another round of pension cuts and lower tax breaks -- applicable in 2019 and 2020 respectively -- to unlock the cash payment ahead of looming debt repayments in July.


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