Germany: No Overhaul After Euro Exit

Germany said Friday it won’t undergo a major overhaul after losing yet again to Italy in the semifinals of the Euro 2012 soccer tournament. The Italians beat the young team—which had been a favorite after winning 15 straight games—hours before Italy and Spain won a major victory against Germany in the European Union economic talks in Brussels. Not sure about the subtext there—will Angela Merkel also refuse to change her austerity-first approach?