The unpopular €28B ($40B) bill, that is a five-year package of spending cuts and tax rises, has passed by the riots have not. Athens sees the second day of clashed between Police and angry protestors. Another bill has to be passed tomorrow so that the country secures the fund.
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Greece Parliament Passes Austerity Plan
Written by seekinGold Wednesday, 29 June 2011 16:53Despite the wide protests on the streets of Athens, Greece parliament approved more austerity measures to avoid a default next month. U.S. dollar fell on the news and commodities advanced. Gold futures rose to $1,514 an ounce and settled at $1,510 mid-day trading. Prices remain vulnerable if greenback rises.
Gold shares continued the rally with 39 of the 45 gold stocks in the positive gain territory. Entree Gold is leading with over 9% gain.
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