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The main Supreme Court prosecutor ordered an investigation Thursday into why the two resigned and their allegations of interference, while Prime Minister Lucas Papademos met with top judicial officials. Papademos, who was appointed to head an interim coalition government in November after a political crisis forced his predecessor to resign, "underlined the need to complete as quickly as possible the investigation that has begun," a statement from his office said. The repeated rounds of austerity measures have left the country struggling through a deep recession, with the economy projected to contract for a fourth year in 2012. It quickly became clear that the initial bailout would not be enough to prevent Greece from a potentially catastrophic default, and European leaders agreed in late October on a second, euro130 billion bailout for the country. The new package includes provisions for private creditors to write off 50 percent of the value of Greek bonds they hold, potentially cutting Greece's overall debt by euro100 billion. But the details of this remain to be worked out, and the country is currently involved in tough negotiations. If the debt write-down goes through and Greece implements all it has pledged to in the way of austerity measures and privatizations, the country is expected to reduce its debt to 120 percent of gross domestic product by 2020, from 161 percent of GDP this year.
[Associated
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