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Page last updated at 06:52 GMT, Thursday, 21 April 2011 07:52 UK

Greece's 'vicious and negative circle'

It is widely expected that Greece, whose deficit has lately grown larger than it was last year, will soon be forced to default on its debts, or at least restructure them.

Steven Major, of HSBC in New York, examines the country's financial dilemma.

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