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.
A European Union official says worsening economic conditions have made Greece’s current bailout agreement an “illusion,” but Germany is resisting any changes.
A narrow victory for the New Democracy party in elections over the weekend in Greece means that the country is more likely to stick to the harsh austerity terms of its $300 billion bailout packages and avoid a chaotic exit from the euro.
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