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Greek Parliament Debates Debt Deal Amid Protests

By ALKMAN GRANITSAS And ART PATNAUDE ATHENS—The Greek government braced for further anti-austerity protests Wednesday while the country’s parliament was debating legal changes that would clear the way for a massive debt restructuring to keep Greece from defaulting on its loans next month. The legislation, which is to be put to the vote on Thursday, retrofits outstanding Greek bonds with ...

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Barack Obama seeks to change US corporate tax code

US President Barack Obama is to propose cutting the US corporate tax rate from 35% to 28%, and closing loopholes, as part of a larger push for tax reform. Mr Obama previously called for corporate tax overhaul in his State of the Union speech. Republicans also propose lowering rates, but Mr Obama’s plan is thought to have passing are thought ...

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Aussie foreign minister resigns in leadership rift

ROD McGUIRK Associated Press= CANBERRA, Australia (AP) — Australia’s foreign minister resigned Wednesday in a bitter rift with Prime Minister Julia Gillard, who may poll party lawmakers next week on who should lead the country. Foreign Minister Kevin Rudd announced his resignation during a news conference in Washington, where he was visiting on official business, saying speculation that he planned ...

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Former IMF chief Strauss-Kahn questioned for 2nd day in French prostitution probe

PARIS – French police interrogated former International Monetary Fund chief Dominique Strauss-Kahn for a second day Wednesday in a probe into a suspected hotel prostitution ring in France and Belgium. A French judicial source said Strauss-Kahn was held overnight at the police station in the northern city of Lille where he has been detained since Tuesday morning. The source spoke ...

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Greek bailout wins two cheers from wary investors

By Mark Gilbert Greece’s bailout reinforces a rally that has driven yields for Italy and Spain down from euro-era records, giving the region’s leaders time to convince investors they can deliver both economic growth and spending discipline. “It is good to have cleared the Greek Damocles sword for a few months,” said Raphael Gallardo, the head of economic research at ...

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In Latest Greek Bailout, Warning Signs for Europe

European leaders have approved their latest aid package for Greece, raising hopes that the worst phase of the sovereign debt crisis is over and a persistent source of stress on the global markets has been removed. But Greece’s 130 billion euro ($172 billion) bailout highlights the weaknesses in Europe’s response to the crisis, some analysts say. The worry is that ...

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Protest over burning of Korans in Afghanistan

The items are thought to have been burned as part of routine disposal of rubbish at the base. The protesters demanded to meet the country’s president over the issue and threatened to demonstrate again if their demand was not met. US Gen John Allen, the top commander in Afghanistan, apologised and ordered an investigation into the incident, which he was ...

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French police detain Strauss-Kahn in sex ring probe

French police detained former IMF chief Dominique Strauss-Kahn for questioning Tuesday over allegations he took part in orgies in Paris and Washington with prostitutes paid for by businessmen. The 62-year-old former Socialist minister, who until last year was seen as the frontrunner to replace Nicolas Sarkozy as president of France, had been summoned as a witness but prosecutors said he ...

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