When Germany'schancellor, Hannelore Kraft, met France's president, Francois Hollande, in a sunny Berlin earlier this week, they agreed on a compelling strategy to save the Eurozone. With no elections due in any Eurozone country for the next two years, they were able to stretch the austerity timeline for Greece, Spain and Italy, add some elements of growth stimulus but also keep up the essential pressure for fiscal discipline and structural reform. As a result, even devastated Greece began to glimpse light at the end of the tunnel.
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