Meeting students at the University of Amsterdam last April, European Central Bank president Mario Draghi extolled the virtues of courage, recalling a story his father had told him:

The burden other eurozone states could bear gives them a powerful incentive to keep Greece in the currency club, writes Paul Carrel

There is a palpable sense of hope at the annual Davos World Economic Forum that the eurozone is edging away from the brink of catastrophe.

GERMANY will probably back down in its battle with the European Central Bank over a new aid package for Greece rather than risk a breakup of the euro, said Andrew Bosomworth, a fund manager at Pacific Investment Management.

GERMAN growth has reached its highest point for 10 years and analysts are predicting it could go even higher than expected next year.