Economy: Economic News, Policy & Analysis - The Washington Post: French, Greek voters say no to austerity

Economy: Economic News, Policy & Analysis - The Washington Post Economy News: Get the latest headlines and in-depth coverage of economic news, policy, analysis and more from The Washington Post.

French, Greek voters say no to austerity May 7th 2012, 01:03 LONDON — Voters in France and Greece redrew Europe's political map Sunday in a powerful backlash against the German-led cure for the region's debt crisis: painful austerity. In France, voters swept Francois Hollande into the nation's highest office, ejecting President Nicolas Sarkozy and bringing the Socialists back to the Elysee Palace for the first time in 17 years. Along with Germany's Angela Merkel, the blunt-talking Sarkozy was a chief architect of Europe's push to restore confidence in the euro through tough fiscal discipline. In contrast, Hollande vowed to focus on economic growth, arguing that the singular emphasis on spending cuts has weighted down Europe with recessions and soaring unemployment. Read full article >>

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