Breaking News

Hollande defeats Sarkozy; World Market Nosedives
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)

Two events have exacerbated the plight of European debt and unemployment: France’s election of Socialist Francois Hollande over former president Nicolas Sarkozy, and the seeming failure of Greece to elect a party that could form a government. The results? A sharp dip in the world market.

France’s CAC 40 was down another 0.2% after sinking 1.4%, Germany’s DAX dropped 0.6%, Hong Long fell 2.6%. The Euro to US dollar index also reached a nadir of $1.2972, the lowest in month, but is inching back up to $1.3032.

“Election defeats for President Sarkozy, and for the main coalition parties in Greece and for Angela Merkel’s party in Schleswig Holstein highlight voter backlash against austerity, economic contraction in unemployment,” said global macro strategist Neil Mackinnon.


Greece especially is feeling it, even after coming up to 6 percent lower than their normal trading market after plummeting 8.2 percent. With around half the Greece young adults unemployed, debt is a lead social problem.

Campaigns such as Hollande’s, who won narrowly with 51.62 percent of the vote, seek to get the economy out of its crisis with growth-generating economic policies and less reliance on austerity. The alternatives between austerity and stimulation are seen to be key in Greece, France, and throughout Europe, for managing national and private debt.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!



Family Law Attorney


Boutique firm currently seeking to hire an experienced family law attorney   Qualificatio...

Apply now

Associate Attorney


Collection Attorney Law firm looking for part-time attorney to work onsite and travel to hearings ar...

Apply now

Litigation Paralegal


Battle & Winn LLP seeks a qualified litigation paralegal. This is a full-time opportunity and offers...

Apply now

Legal Assistant


We are looking for a self motivated Legal assistant to ensure smooth running of the office and effec...

Apply now




Search Now

SEC Attorney


Waltham office of our client seeks SEC attorney with 3-5 years of experience to assist with all aspe...

Apply Now

Private Investment Funds Associate Attorney


Dallas office of a BCG Attorney Search Top Ranked Law Firm seeks private investment funds associate ...

Apply Now

Commercial Litigation Attorney

USA-CA-Los Angeles

Los Angeles office of a BCG Attorney Search Top Ranked Law Firm seeks commercial litigation attorney...

Apply Now


To Top