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NYTIMES/ Bond watchers fear that Greece's new government led by socialist Prime Minister George Papandreou may not cut public wages and pension payments that make up 51 percent of its budget and contribute to its surprizingly scary 12.7% deficit. And those fears are now spreading to Portugal and Spain's fundamentals. Greece set-up this crisis by severly underestimating deficits for several years, testing its credibility.
