European governments signaled a willingness to relent on Greeceâ€™s austerity measures as leaders turn from an election victory by Greek bailout proponents to focus on safeguarding the other 98 percent of the euro economy.
Greeceâ€™s new government must emerge â€œswiftlyâ€ from yesterdayâ€™s contest, which showed pro-bailout New Democracy in a position to form a coalition, euro finance chiefs said in a statement. German Foreign Minister Guido Westerwelle said negotiators could consider giving Greece more time to fix its finances, telling ZDF television that the political gridlock over the past six weeks â€œhas done damage.â€
Greeceâ€™s international monitors will â€œreturn to Athens as soon as a new government is in place to exchange views with the new government on the way forward,â€ the finance ministers said in the statement. They want â€œthe swift formation of a new Greek government that will take ownership of the adjustment program.â€
The election result in the country where the debt crisis began in 2009 paves the way for euro leadersâ€™ fourth make-or- break summit in a year. While Chancellor Angela Merkel warned global leaders last week that Germany rejected what she called quick-fix management of the crisis, a softening of the terms of Greeceâ€™s bailout may provide a template for how euro leaders overcome policy differences.
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