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Cyprus Lawmakers Approve Austerity Package

Posted August 26th, 2011 at 8:15 pm (UTC-5)
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Lawmakers in Cyprus have approved an economic austerity package in a bid to cut its huge budget deficit and ease concerns the Mediterranean island will need a European Union bailout. Legislators Friday voted in favor of measures calling for tax increases and cuts to government workers’ salaries, as well as for their pensions to be […]

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Vatican Says It Is Profitable Again

Posted July 2nd, 2011 at 11:00 am (UTC-5)
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The Vatican says it was profitable in 2010, after three years of being financially in the red. The Vatican said Saturday that it made a profit of more than $14 million last year on revenue of about $356 million. That contrasts with a loss of nearly $6 million in 2009 and losses in 2007 and […]

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Lenders: Greece Likely to Get Next Portion of Bailout

Posted June 3rd, 2011 at 6:10 pm (UTC-5)
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International lenders say Greece has made progress toward repairing its finances and is likely to get the next installment of its international bailout next month. The announcement was made Friday after debt inspectors from the European Union, European Central Bank and International Monetary Fund concluded a nearly month-long review of their $159 billion bailout to […]

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Greece: Fiscal Check by EU, IMF Is ‘Positive’

Posted June 3rd, 2011 at 11:45 am (UTC-5)
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The Greek Finance Ministry says an inspection of the country’s finances by the European Union, European Central Bank and International Monetary Fund has ended “positively.” Talks in Athens Friday measured how much progress Greece has made in reforming its economy in line with last year’s $159 billion bailout package of loans from the three institutions. […]

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