Wall Street Journal
May 7, 2012
European leaders urged fresh efforts to revive the region's economy after the win of Socialist candidate Francois Hollande in Sunday's French presidential election but officials face a more immediate challenge: a Greek election result that could reopen concerns about the currency bloc's future.
In results that seemed to represent a repudiation of austerity policies pushed by Brussels, Hollande beat out French President Nicolas Sarkozy by 51.7% to 48.3% while Greece's two main parties collected less than a third of the vote between them as far-left and far-right parties surged.
"The results of the elections in France and Greece impose a reflection on European policies," Italian Prime Minister Mario Monti said in a statement Sunday evening, after talking to other European leaders, including European Council President Herman Van Rompuy and U.K. Prime Minister David Cameron.
"Responsible public finances remain a necessary condition but certainly not sufficient for the key objective: sustainable growth which creates jobs and is oriented towards social equity."
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