In France, Socialist candidate, François Hollande, who campaigned against austerity defeated defeated conservative candidate Nicolas Sarkozy. In his victory speech Hollande said, "austerity can no longer be the only option." The nation most ravaged by austerity, Greece, also voted against the two parties pushing for austerity in elections on Sunday. Max Fraad Wolff joins the Big Picture to discuss the historical elections and what they mean for the austerity agenda prevalent in Europe and what it in turn means for the United States.
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