New Democracy victory sees Merkel ease up on Greece

It could take up to a week to form the new Greek government, but the impact of the French elections will be felt immediately in the EU.

With French president François Hollande poised to win his Socialist majority in the upper and lower houses, he will be pushing full steam ahead with his plans to soften the austerity on eurozone countries.

The win in Athens by New Democracy offers a good chance that the bailout terms will not be torn up, and already Germany has indicated that they are willing to see what can be done to help the country that is on its knees.