Greek, French Elections Sound Death Knell for Austerity
By Julio Godoy BERLIN, May 7, 2012 (IPS) - The voting out of conservative governments in France and Greece this weekend heralds the end of harsh European austerity programmes and ushers in an era of new economic, investment, and social policies aimed at restoring growth and employment across the continent. In France, the Socialist presidential candidate François Hollande, a champion of government-led economic growth and employment strategies, accomplished a comfortable victory over the incumbent president Nicolas Sarkozy – the man often seen as the poster child of the austerity programmes in practice all over Europe. In Greece, citizens penalised the two strongest, traditional parties, New Democracy and the Pan- Hellenic Socialist Movement (PASOK), for their recent technocratic coalition government that has imposed a severe austerity plan on the country, which deepened the five-year-long recession and ignited a steep increase of unemployment and poverty Instead, Greek citizens cast the...
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