WHAT NEXT IN EUROPE: European leaders are locked in a fierce debate over how to solve the debt crisis that is killing growth on the continent, including whether to ease up on the terms of Greece’s bailout deal. Germany is resisting any changes.
THE BACKGROUND: A narrow victory for the New Democracy party in elections in Greece means that the country is more likely to stick to the harsh austerity terms of its €240 billion ($300 billion) bailout packages and avoid a chaotic exit from the euro for the moment. However, the elections have not given Europe the breathing space it needed to sort out its problems.
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