1. Crisis

    Europe Refocuses on Rescue

    German Chancellor Angela Merkel speaks with members of her delegation before the first plenary session of the Leaders G20 Summit in Los Cabos, on June 18, 2012. The leaders of the world's most powerful economies meet for a G20 summit confronted by turmoil in the eurozone, a critical election in Greece and worsening bloodshed in Syria.   AFP PHOTO / YURI CORTEZ        (Photo credit should read YURI CORTEZ/AFP/GettyImages)

    Yuri Cortez / Getty Images

    Now that Greece is firmly remaining in the euro zone, leaders are back to struggling to find a solution to the continent’s economic woes. Germany believes the Greek elections supported the need for austerity. “The Greek government will and must naturally follow through on the commitments that were made. There can be no loosening of the reform steps,” German Chancellor Angela Merkel said. Others advocate a more moderate approach. There are also fears that the Greek election results have prevented a lasting solution. One analyst said, “The risk is that this benign outcome could inhibit a bolder solution at the upcoming E.U. summit.”

    Read it at The New York Times