Greek Elections Force Germany to Weigh Austerity Endgame

Greece’s have confirmed its role as the worst pupil in the euro-area class. But with all respect to Paul Krugman and others, austerity isn’t dead: It’s now up to Germany to decide whether to ease up, or hold firm and watch Greece leave the euro.

The May 6 vote showed clearly that Greeks aren’t willing to accept further cuts. Almost 70 percent of voters backed political parties -- from anti-Europeans to neo-fascists -- that oppose sticking to the terms of the two bailouts since May 2010.