The victory of pro-bailout parties in the election in Greece is being seen as a positive step towards averting a further crisis in the eurozone.
As world leaders meet for the G20 summit in Mexico’s Los Cabos, there is an air of relief that the result in Greece has decreased the chances of the euro breaking up.
However, the message is that Greece still has work to do.
“It is now crucial that a stable and cohesive Greek government be formed quickly. The new government needs to get to work swiftly to implement the economic reforms wich are needed to bring Greece back on its feet again,” European Commission President José Manuel Barroso said at the summit.
However, there is no sign that German Chancellor Angela Merkel will soften her tough line on bailout conditions for Greece, saying “we cannot compromise on the reform steps we agreed on” as she arrived in Los Cabos.