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Samaras was sworn in as Greece's fourth prime minister in eight months Wednesday, after three days of negotiations which led to New Democracy forming a power-sharing government with long-time socialist PASOK party rivals, and the small Democratic Left party. The government has pledged to keep Greece within Europe's joint currency and broadly stick to the terms of its international bailout from other European countries and the International Monetary Fund. But it has said it will seek to renegotiate some of the conditions of its rescue loans. Greece has been dependent on billions of euros (dollars) of rescue loans since May 2010, after it became locked out of the international borrowing market by sky-high interest rates following years of profligate spending and poor fiscal management. In return, it imposed harsh austerity measures, including slashing spending on everything from healthcare to education, cutting salaries and pensions and repeatedly raising taxes. But it has still struggled to meet its fiscal targets, and the measures have plunged the country into a deep recession, now in its fifth year, and have sent unemployment soaring to above 22 percent. Samaras faces his first test to his pledges to renegotiate some of the bailout terms next week, when he is due to go to Brussels for a European Union summit on June 28-29.
[Associated
Press;
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