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Greece says deficit cut by 42%

Greek Finance Minister George Papaconstantinou said on Monday (July 5th) that Greece has managed to slash its budget deficit by 42% since the beginning of the year. According to the Central Bank, the deficit is now 4.9% of GDP, or 11.45 billion euros, compared to 19.685 billion euros a year …

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Putin sets out new strategy for N. Caucasus

Russian Prime Minister Vladimir Putin has outlined new initiatives to boost economic development in the restive North Caucasus. Russia is fighting a growing Islamist insurgency in the region fueled by poverty, unemployment and corruption. Speaking in Kislovodsk, in Russia’s southern Stavropol region, Putin called on

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