The Print Edition of the Economists argues that there are signs of recovery in Europe, but it is too early to celebrate.

http://www.economist.com/node/21548259

I have argued for a long time that this is more a political crisis than an economic crisis. In this sense, the Economist argues that this week´s events in Greece also give contradictory messages: On one hand, "One lesson of this week is that, faced with market meltdown, politicians from both debtors and creditors will compromise". On the other hand, signs of progress may lower the incentives for reform: "Will a reduction of market pressure slow weaker countries’ long and painful march to reform? Will stronger ones ignore the design flaws that make the single currency needlessly unstable?"