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Published on 28 November 2012 at 11:45

In the wake of the Eurogroup-IMF agreement on the reduction of Greek debt, the European Financial Stability Facility (EFSF) is to transfer €43.7 billion to Greece, the largest tranche of financial aid ever granted to a country threatened with bankruptcy. The Bundestag is expected to approve the measure this week, however, the Social Democrat candidate for the Chancellor’s office, Peer Steinbrück, has voiced concerns over its impact on Germany’s budget, while the German opposition has requested more time for a vote.

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The most costly transfer of all time – Die Welt

In the wake of the agreement on the reduction of Greece’s debt, leaders of the three parties in the country’s ruling coalition are discussing strategies for the implementation of the measures pledged in exchange for a new loan of €43.7 billion, and considering a possible cabinet reshuffle.

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The trio’s wager – Ta Nea

The Organisation for Economic Cooperation and Development (OECD) believes that “the eurozone crisis is the biggest threat to the global economy,” and predicts that the eurozone’s GDP will shrink by 0.1 per cent in 2013, in the wake of a 0.4 per cent contraction this year. Cautioning against hopes for a return to growth before 2014, the OECD recommends that the ECB “should do more” and “cut its main interest rate”.

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OECD: Eurozone's existence is still in danger – Der Standard

The rate of unemployment has increased for the 18th consecutive month, with an additional 45,400 jobless in October (or +1.5%). The country now has a total of 4.58 million people that are either without work or working very short hours. According to OECD forecasts, the rate of unemployment in France will reach 11.25 per cent by the end of 2013.

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France producing 1,500 unemployed per day! – La Tribune

Speaking in the Hungarian parliament on Monday evening, Marton Gyöngyösi, an MP for the extreme right party Jobbik, called for "an urgent tally of MPs with Jewish backgrounds in government and parliament, who represent a national security risk." His remarks, which have been widely condemned by a broad range of politicians, prompted the organisation of a flashmob to protest against anti-Semitism outside parliament.

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Shocked by Jobbik’s list – Népszabadság

Austrian former MEP Ernst Strasser, who has been in court on corruption charges since November 26, faces 10 years in prison. In stark contrast, the investigation of Adrian Severin has made absolutely no progress. Back in 2011, the former Romanian minister for foreign affairs and onetime MEP was implicated at the same time as Strasser and a Slovenian MEP by Sunday Times journalists who passed themselves off as lobbyists proposing bribes.

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Austria’s Severin: A lesson for Romanian justice – România libera

David Fernández, the second-in-command of the Socialists’ Party of Catalonia – which came third in regional elections on November 25 – along with the mayor of Sabadell, Manuel Bustos, have been arrested as part of an anti-corruption investigation codenamed Mercurio. The pair are accused of demanding a 3 per cent commission on town management contracts. Ten other people have been arrested and a total of 26 people have been charged in connection with the affair.

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PSC rocked by corruption – El Periódico de Catalunya

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