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The euro plunged to a fresh yearly low versus the dollar amid growing doubts that a massive bailout for Greece will put an end to the Euro area's ballooning debt crisis.
With some analysts speculative the aid package does not fully backstop Greece's significant sovereign debt, others are skeptical that Greece's powerful unions will accept the budget cuts agreed to by Athens in return for help.
Public-sector workers in Greece began a 48-hour nationwide strike Tuesday to protest the cost-cutting measures.
Later this week the Greek parliament will vote on a draft bill incorporating austerity measures as terms of a 110 billion euro ($144.5 billion) bailout loan from the European Commission and IMF.
The euro dropped to 1.3050 versus the dollar, its lowest level since last April.
The single currency has been under pressure versus the dollar for most of the year, crippled by evidence the euro area is lagging behind the US recovery from global recession.
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