Europe is facing a fresh economic crisis after France rejected austerity and elected a tax-and-spend socialist president. Nicolas Sarkozy suffered a humiliating defeat at the hands of Francois Hollande, who ran on a platform of tearing up last December’s controversial deal to save the euro from oblivion.The Euro plunged to a three-month low as the inexperienced Mr Hollande planned talks with the European Central Bank and German Chancellor Angela Merkel to demand further borrowing to boost growth.
French President Nicolas Sarkozy's action-packed six-year term has ended in defeat at the hands of Socialist challenger François Hollande. Hollande, who ran on pledges to raise income taxes, ook a little less than 52 percent to Sark... Read Post
PARIS - France voted in a presidential run-off election on Sunday that could see Socialist challenger Francois Hollande defeat incumbent Nicolas Sarkozy by capitalizing on public anger over the government's austerity policies. Read Post