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2012-05-07 — huffingtonpost.com
Riding a wave of anti-austerity sentiment, Socialist presidential candidate Francois Hollande edged French President Nicolas Sarkozy to become the first socialist French president since Francois Mitterand in 1995. It was the biggest setback in an ugly day at the voting booth for the pro-austerity forces of German Chancellor Angela Merkel, whose own ruling coalition lost a state election on Sunday. More troublingly for financial markets, Greece's politics are once again in turmoil, after the ruling coalition there was spanked by a group of anti-austerity parties. European stocks and the euro are lower this morning will the mess is sorted out.
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