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As the continent rejects austerity, proposals for structural reform are promising but vague.
Governments hint they may give Greece more time to achieve budget cuts
German GDP expands 0.5% in Q1, offsetting contractions in other countries.
German official calls elections a referendum on whether Greece remains in euro.
Currency hits 3-month low as central bankers discuss possibility of Greek departure.
S&P sees global wall of refinancing, new issuance over next five years.