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Merkel rejects Greek government's bid for further debt relief

German Chancellor Angela Merkel ruled out the possibility of offering Greece more debt relief on Saturday and stated that she doesn't see "a further debt haircut" in the debt-ridden country's future.

The decision came as a blow to the new Greek government as they had promised voters that they would put anti-austerity measures in place and demand neighbouring countries to write off part of its 320 billion euro ($360 billion) debt.

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New Greek government sends shockwaves across Europe

Greece swore in its new government today ending instability there for the time being but the election of the Syriza party sent shockwaves across Europe.

In an unusual pairing, the far left Syriza party joined forces with the far right Independent Greeks to form a coalition bent on putting an end to the painful austerity measures which, they say, have shattered the country's economy.

ITV News Europe Editor James Mates reports from Athens:

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