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Greece Back in Recession as Bailout Impasse Drains Economy

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Greece Still Near Brink Despite IMF Payment: Shing

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Greece’s economy fell back into recession in the first quarter, raising pressure on the government to reach an agreement with creditors over the next bailout payment.

Gross domestic product contracted 0.2 percent in the three months through March after shrinking 0.4 percent in the previous period, the European Union’s statistics office in Luxembourg said Wednesday. The median estimate in a Bloomberg survey was for a 0.5 percent drop.