Yannis Liakos / AP Photo

Greece's last two bailouts failed to rescue the country. This week, European leaders approved a new $95 billion package for the debt-stricken country. For Greeks, it means more tax hikes and cuts to pensions and other public spending–an option they soundly rejected in a nonbinding referendum in July. Still some argue that this bailout is different than the previous two – and that it may set the country on the path to recovery.

Updated at 10:30 p.m. ET

Greece's radical left Syriza party has become the first anti-austerity party to win elections in Europe, throwing into doubt whether the troubled country stays the course on an international austerity plan.

The party fell just short of an absolute majority, NPR's Joanna Kakissis reports for our newscast unit, and will have to work with another party to govern.

The debt crisis in the euro zone has put the financial markets of Italy, Spain and most recently France under pressure after the bailouts of Greece, Portugal and Ireland.

Much has been written about the economics of the eurozone crisis — the credit default swaps, financial haircuts and bank recapitalizations. To complicate matters more, hurdles, such as Greece's economic debacle and bailout request, will take longer than a week to rectify.