Europe faces daunting challenges despite Greek vote

Brussels The victory of a pro-bailout party in Athens gives EU leaders space to act against the Eurozone crisis but they still face huge challenges over Greece and Spain, over growth and on EU integration. Relief came for Eurozone governments as the conservative New Democracy party finished first in Sunday’s election, beating the leftist anti-bailout Syriza party and easing the dangers of a euro exit. But the respite was short-lived when markets turned against Spanish and Italian debt, putting the Eurozone once again on the edge of chaotic crisis. “A further lapse into the unknown was avoided on Sunday as New Democracy topped the vote in Greece,” said Erik Nielsen, managing...