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Published on May 14, 2012
Socialist Francois Hollande has bumped former French President Nicolas Sarkozy in the country's presidential elections last week. Hollande has threatened to rip up the Europe's austerity deal which has been orchestrated by German Chancellor Angela Merkel. Meanwhile, Greeks are having difficulty to form a new government. Over 60 percent of those who voted in the parliamentary elections demanded that the crippling loan terms insisted on by the EU be re-negotiated.