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Greece set to implement mass privatization plan

Jobs, public services, and wages cut for austerity program.

Venizelos: Our privatization targets are attainable and will be met on time.September 6, 2011: Greeks can look forward to job losses, salary cuts, closures of public institutions and reductions in public services, and privatized public assets as the country's government attempts to solve its debt problems, reports Nicholas Paphitis of the Associated Press.

"Greece's finance minister pledged Tuesday to speed up a series of delayed reforms meant to cut flab from the country's bloated public sector without immediate job losses, open up tightly regulated professions to competition and kick-start an ambitious privatization plan.

'Greece is not the pariah of the European Union, it is not a permanent sore and problem,' Evangelos Venizelos told reporters after a cabinet meeting. 'It is an equal, competitive country that has a very serious problem regarding its public debt and fiscal deficit. We can and shall overcome this, but not without carrying out the structural reforms in fullÂ…'"

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Posted: September 07, 2011

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