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Greece budget vote: A Pyrrhic victory
Sometimes at a concert the audience leaps to its feet as the last note has scarcely died away. An explosion of applause engulfs the performers. The Greek parliament had only just voted in favour of the new austerity package when the German Chancellor Angela Merkel was shouting "bravo!" from Berlin. She showered praise on Greek MPs for their "brave" vote. She praised the decision as "an important step for the stability of the eurozone". The President of the European Council, Herman Van Rompuy, was on his feet too. "The country," he said, "has taken an important step forward along the necessary path of fiscal ... (full story)
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