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Page last updated at 08:19 GMT, Thursday, 16 June 2011 09:19 UK

'Significant losses' to UK banks if Greece defaults

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Greece's prime minister, George Papandreou, is attempting to form a new government in order to impose an austerity regime and avoid defaulting on the country's massive debt. Economics editor Stephanie Flanders reports on the fears that financial contagion is spreading from Athens.


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