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Greek unemployment up to 12.1% In February

05-14-2010 10:04 BJT

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Unemployment in Greece shot up to a new five-year high of 12.1 percent in February. It puts the total number of people out of work at more than 600-thousand.

The jobless total rose from 11 percent in January. The Greek government has announced sweeping spending cuts to address its acute debt crisis.

The measures are required to secure vital loans from its 15 eurozone partners and the International Monetary Fund. However, economic activity is expected to continue shrinking, with the country forecast to remain in recession until 2012.

Editor:Du Xiaodan |Source: CCTV.com

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