Greece May Go Bankrupt, Even with New Loans

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Greece will be getting another round of international bailout loans, but the second rescue package may not be enough to save it from bankruptcy.

Debt inspectors from Europe and the International Monetary Fund made that conclusion in a draft report obtained by The Associated Press Thursday.

The inspectors said Greece has not cut back on spending as much as it promised. But the country will still get more loans to try to avoid going bankrupt next month.

The inspectors said Greece's debt dynamics remain "extremely worrying."

Greek protesters took to the streets again Thursday in Athens, angry with the government's spending cutbacks.

Meanwhile, the Greek government will soon vote on more spending cuts and the extra austerity measures.

Finance Minister Evangelos Venizelos, who will attend a summit of European finance ministers on Friday, warned Greek lawmakers that failure to approve the proposed measures would be disastrous for the country.

"If the law is not approved, including every single article it contains. there is no need for me even to go to the eurogroup meeting on Friday, or the prime minister to Sunday's summit," Venizelos said.

"The country will be exposed to the danger of a non-rational development, and will once again serve as the scapegoat on which Europe's historic, political and institutional shortcomings will be dumped," he said.

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