French and Greek elections: Lessons for U.S.

NEW YORK (CNNMoney) — The French and Greek election results are being viewed as a smackdown on austerity.

In France, Socialist Francois Hollande won the presidential election, defeating incumbent Nicolas Sarkozy, who supported the compact to increase fiscal discipline in the Eurozone.

And the makeup of the next Greek government remains unclear after the pro-austerity parties didn’t win enough parliamentary seats to form a majority.  Read more

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