07 May 2012

France and Greece

The election results in France, where Socialist François Hollande won on an anti-austerity platform against unpopular incumbent Nicholas Sarkozy and in Greece, where a radical left coalition came second and the current grand coalition can't form a majority, potentially leading to further elections.

Some on the right are saying that the citizenry in Europe are deluded as to the extent of the debt situation. I personally think they just see that all this austerity is doing is giving tax cuts to the rich to create growth (which it isn't doing as most consumers are ordinary people) while the poor are thrown out of work and left to fend for themselves.

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