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Tens of Thousands Protest Austerity as Greece Faces Default

HeadlineJun 30, 2015

Tens of thousands of Greeks have protested against further austerity cuts ahead of a key referendum on a new European bailout. The demonstrations come as the country confirms it will not meet the deadline for a $1.8 billion loan repayment due by 6 p.m. Eastern time tonight, deepening Greece’s fiscal crisis and threatening its exit from the eurozone. Greece will hold a vote this Sunday on whether to accept an austerity package of budget cuts and tax hikes in exchange for new loans. Greek Prime Minister Alexis Tsipras has urged a “no” vote, calling the proposal a surrender. We’ll have more on the Greece fiscal crisis after headlines.

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