Voters punish leaders behind austerity measures in Europe

Six countries in Europe held their elections on Sunday, May 6 — France, Greece, Serbia, Germany, Italy, Armenia. Going by the poll results in 3 of the eurozone’s largest economies (France, Greece, Germany), voters punished incumbent leaders who had a role in region-wide austerity measures aimed at saving them from deep economic crisis that has shaken world markets. In France, Socialist Francois Hollande, who is expected to push for more stimulus-minded approach, defeated Nicolas Sarkozy for the presidency. Greeks punished the two main parties in the parliamentary elections that had a hand in forming a national salvation government that shielded the country from bankruptcy and kept Greece in the EU.

An economist said the poll results show the wide gap between politicians and voters who are sending a worrying message: They are not ready for reforms. These leadership changes will likely have consequences on the region’s continuing efforts to deal with financial and economic mess they are in, and the ripple effects on the rest of the world.  

Read more about the French election results on Rappler. Check CNN’s coverage.

Read more on the Greek election results on Rappler, New York Times, and CNN.

Read more on what’s at stake in these elections in Europe on Washington Post and Reuters.