On Sunday – Sarkozy narrowly lost the first round of Presidential elections in France to Socialist candidate Francois Hollande. Another election runoff is scheduled for May 6th. Following yesterday’s vote – Hollande’s campaign manager said that the results reflected, “a reaction against austerity.”
Austerity measures in several European nations from Greece to Spain to the U.K. have crippled economies and mobilized working people into the streets. Major demonstrations in Denmark and the Czech Republic were held over the week to protest against austerity too. And in France – austerity may just end up costing the President his job.