Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

Inside the Market

Up-to-the-minute insights
on developing market news

Entry archive:

France's president-elect François Hollande waves from a balcony at his Paris campaign headquarters on May 7, 2012 (ERIC GAILLARD/REUTERS)
France's president-elect François Hollande waves from a balcony at his Paris campaign headquarters on May 7, 2012 (ERIC GAILLARD/REUTERS)

Anti-austerity: Just what Europe needs Add to ...

The austerity pushback in Europe hasn’t spooked markets: The S&P 500 in afternoon trading on Monday was up, European bond yields were stable and French and German benchmark stock market indexes reversed earlier losses and ended the day with gains.

Why? The austerity backlash has been growing more powerful in recent weeks, with French incumbent President Nicolas Sarkozy losing the first round of elections in April – so the weekend’s French and Greek election results were hardly surprising. As well, austerity is earning a bad reputation, given that a number of budget-slashing nations – including Spain and the U.K., have slid back into recession.

More related to this story

For Globe Unlimited Subscribers

Business videos »

Most popular videos »

Highlights

Most Popular Stories