Greece's new Finance Minister Yanis Varoufakis arrives for a handover ceremony at the Finance Ministry in Athens, Wednesday, Jan. 28, 2015. (AP Photo/Petros Giannakouris)
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Greece's new government Wednesday signaled the country would backtrack or scrap a series of budget measures its eurozone creditor nations had demanded in exchange for bailout loans.Stock and bond markets in Greece plummeted.Tsipras' Syriza party, which won a sweeping general election victory Sunday on a promise it would overhaul those earlier commitments, calls that target is unrealistic. He said his government would instead seek to balance the primary budget.The new Greek government, Tsipras said, was seeking "realistic proposals" on how to make Greece's huge rescue loans easier to manage and ways of dealing with the "humanitarian crisis" of mass unemployment and rising poverty.The Athens Stock Exchange's main index fell more than 7.5 percent, while the government's borrowing rates climbed, a sign investors are more worried that Greece might default.
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