EU uneasy after polls in France, Greece

PARIS / ATHENS

France’s president-elect Francois Hollande waves to his supporters. AFP photo

The eurozone is experiencing another period of uncertainty following the weekend elections in France and Greece, as well as yesterday’s local elections in Italy.

France’s Socialist president-elect François Hollande faces a daunting task after his election on Sunday, with financial markets awaiting clear signals on Hollande’s policies and how hard he plans to push back against German-led eurozone austerity. (Full report: Belt-tightening critic Hollande wins in polls)

Meanwhile, Greek voters delivered a stunning anti-austerity election verdict on May 6, punishing the ruling coalition and allowing a far-right extremist group into Parliament. No party won enough votes to govern alone and negotiations have begun for the forming of a coalition government. (Full report: Greek voters punish pro-austerity parties)

In addition, Italian voters were set to deliver their first verdict on Prime Minister Mario Monti yesterday in local elections, in another test of public reactions to European austerity policies. (Full report: Italy election provides test for Monti policies)