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Greeks strike over austerity cuts before vote

Tens of thousands of Greeks took to the streets Tuesday as trade unions launched protests and a general strike.

British austerity cuts: rhetoric and reality

An independent report notes that most of the government's cuts have yet to come into effect.
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Britain's Chancellor of the Exchequer, George Osborne, the global leader in voluntary austerity cuts. A new report shows that for all his rhetoric only a tiny number of cuts have actually been put in place - but still enough to drag Britain into recession. (JUSTIN TALLIS/AFP/Getty Images)

Unemployment is up, the economy contracted in the last quarter, so austerity cuts are biting, right?

That has been the tone of not only my reporting in the last year but all reporting about the British economy. It has been the framework for political criticism by the opposition Labour party.  Its mantra has been "too far, too fast."

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