Brussels, Berlin tell Europe to Stick to Austerity

The European Commission has called on EU nations to stick to their promised budget cuts despite voter discontent in France and Greece, but promised new efforts to boost growth to alleviate economic hardship.

Odds of a lasting coalition are slim given the massive vote against the austerity coalition. Fotis Kouvelis, SYRIZA party leader and second place finisher in the elections repeated his position that cooperation with New Democracy and PASOK was not in his intentions. Moreover, Greece's Democratic Left party refuses to join any pro-bailout coalition.

Despite mounting voter discontent, EU nations urged to hold to agreed budget cuts

I have no idea what the actual number of times Germany Has ruled out Eurobonds. It could be 504 or even 1004. I Made up the number 104 which simply means "a lot". Nonetheless, the Eurobond idea resurfaces every other week or so, and every time, someone from Germany (typically Merkel, the Bunbdesbank, or the Finance Minister) rules them out. Once again, this time under pressure from French president François Hollande, Germany rules out common euro bonds.

(BRUSSELS) — The leaders of Britain and France staked out starkly different visions of the European Union’s future Thursday, leaving a summit on the EU budget teetering on the brink of failure after the first day. “I have my doubts that we will come to an agreement,” said German Chancellor Angela Merkel after a chaotic day of bilateral negotiations and a belated, short joint session of the 27 leaders.