Greek voters threw out the most prominent political parties, the two parties that have backed austerity measures, in favor of far-right and far-left politicians who promised an end to EU-mandated budget cuts and tax increases. But there's no indication anyone will be able to form a government.
Francois Hollande will be the next president of France, the winner of a run-off election on Sunday between himself and Nicholas Sarkozy. Hollande, a Socialist, has promised to rollback, or at least modify, the austerity measures championed by his predecessor.
Nicholas Sarkosy has a tough battle in front of him if he wants to remain in office when the second, runoff round of the presidential elections happens on May 6. His challenger, Francois Hollande, has promised to reverse some of the austerity measures championed by Sarkozy.
As Greece continues to try and arrest its economic decline, Germany OK'd another $170 billion worth of bailout funds to keep the government operating, to prevent the country from going bankrupt and to keep Greece in the eurozone.
German lawmakers have voted to back the second EU/IMF bailout for Greece. Until now, most German politicians have been saying Greece must stay in the eurozone. However, some might now be changing their tune.
German chancellor Angela Merkel is in Beijing for a two-day visit expected to focus on the eurzone crisis, Iran and Syria. Accompanied by a 20 strong trade delegation, she is scheduled to meet President Hu Jintao and Premier Wen Jiabao.