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Greece

Markets Fizzle Despite Pro-Euro Greek Election Results

Worldcrunch

CNN, DIE ZEIT, BLOOMBERG

LONDON - World leaders have enthusiastically welcomed the narrow election victory of Greece's pro-bailout New Democracy and Pasok parties --world markets, not so much.

The center-right New Democracy and center-left Pasok parties won a combined 162 seats in Greece's parliamentary elections, enough to form a majority in the 300-member parliament, easing concern that Greece would reject austerity measures needed to qualify for aid and remain a part of the European single-currency union.

New Democracy and Pasok claimed "a victory for all Europe" after coming out ahead in Sunday's elections, a vote seen as a referendum on the survival of the euro, CNN reports.

German Finance Minister Wolfgang Schäuble hailed the results, adding that "the way to stability and prosperity is neither short, nor easy --but it's the only way," Germany's Die Zeit reports.

But according to BBC News, after an initial boost in both Asian and European markets to the Greek results, gains were quickly moderated as investors remain cautions about the situation, waiting for a viable coalition to be formed. The Wall Street Journal reports that Spain's 10-year government bond yield soared above 7%.

"Any relief following the Greek election results should be brief,"" Ciaran O'Hagan, head of interest-rate strategy at Société Générale SA in Paris, told Bloomberg. "At best, we are facing a muddle-through scenario in Greece."

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Society

Parenthood And The Pressure Of Always Having To Be Doing Better

As a father myself, I'm now better able to understand the pressures my own dad faced. It's helped me face my own internal demands to constantly be more productive and do better.

Photo of a father with a son on his shoulders

Father and son in the streets of Madrid, Spain

Ignacio Pereyra*

-Essay-

When I was a child — I must have been around eight or so — whenever we headed with my mom and grandma to my aunt's country house in Don Torcuato, outside of Buenos Aires, there was the joy of summer plans. Spending the day outdoors, playing soccer in the field, being in the swimming pool and eating delicious food.

But when I focus on the moment, something like a painful thorn appears in the background: from the back window of the car I see my dad standing on the sidewalk waving us goodbye. Sometimes he would stay at home. “I have to work” was the line he used.

Maybe one of my older siblings would also stay behind with him, but I'm sure there were no children left around because we were all enthusiastic about going to my aunt’s. For a long time in his life, for my old man, those summer days must have been the closest he came to being alone, in silence (which he liked so much) and in calm, considering that he was the father of seven. But I can only see this and say it out loud today.

Over the years, the scene repeated itself: the destination changed — it could be a birthday or a family reunion. The thorn was no longer invisible but began to be uncomfortable as, being older, my interpretation of the events changed. When words were absent, I started to guess what might be happening — and we know how random guessing can be.

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