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.
Nicolas Sarkozy has officially conceded defeat in France's presidential race, meaning the next leader of the French Republic will be Socialist Party candidate Francois Hollande. Hollande was pushed into office by voters not necessar... 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