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MERKEL TO GREECE: Painful Austerity First, Economic Growth Second

BERLIN (AP) — German Chancellor Angela Merkel is insisting that structural reforms can help Greece return to economic growth following a painful austerity drive. Merkel acknowledged in an interview with Deutschlandfunk radio broadcast Sunday that spending cuts "indeed generally lead to the economy not being able to grow so much." However, she said there are plenty of examples of countries where International Monetary Fund programs have been implemented and "very strong phases of growth come after a certain phase of recession.
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