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Unemployment hit a record of 27.6 percent in May. Almost two-thirds of young people are without a job. The country is mired in the sixth year of a deep recession that has seen the economy shrink by about a quarter, though the latest figures suggested a slight easing in the drop. The statistical authority on Monday said economic output shrank by 4.6 percent in the second quarter of 2013, compared with the same three months last year. That is less than the 5.6 percent it contracted in the first quarter of the year. Finance Minister Yannis Stournaras welcomed the figures, saying they showed "a clear slowing of the recession." "We are closing a period with good results, which I'm sure we will continue," he said, during the signing of the sale of a 33 percent stake in the country's gambling monopoly, OPAP. The sale to a Czech-Greek investment fund, Emma Delta, is part of an ambitious but long-delayed privatization program that is part of the country's bailout conditions. Greece sold the stake in OPAP for 654 million euros ($874.59 million), the country's asset development fund said.
[Associated
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