Voting Out Austerity

France and Greece vote out austerity. We’ll look at what their elections mean for Europe’s debt crisis and the world.

Supporters of Socialist candidate Francois Hollande celebrate his victory in the second round of French presidential elections at Bastille Square in Paris, France, Sunday, May 6, 2012. (AP)

Supporters of Socialist candidate Francois Hollande celebrate his victory in the second round of French presidential elections at Bastille Square in Paris, France, Sunday, May 6, 2012. (AP)

They voted in France. They voted in Greece. And they voted against the pain of austerity that’s been raining down on Europe since economic crisis hit and the hammer came down. Sarkozy is out in France.

The first Socialist in years is in: Francoise Hollande. In Greece, deadlock and a big “no” to the mainstream parties that have led in the crunch. Now comes the face-off. Will it be the German call to take the pain? The cuts? The unemployment? Will it be, somehow, growth? Will Europe hold together? Melt down?

This hour, On Point: pushback politics, and the big “no” from Europe.

-Tom Ashbrook


Nicholas Kulish, Berlin bureau chief for the New York Times.

Dominique Moïsi, a founder and senior advisor at the Ilfri (the French Institute for International Relations) and author of “The Geopolitics of Emotion: How Cultures of Fear, Humiliation, and Hope are Reshaping the World.”

Scheherazade Rehman, is Director of the European Union Research Center and a professor of International Finance and Business at George Washington University.

From Tom’s Reading List

Project Syndicate “This year’s annual meeting of the International Monetary Fund made clear that Europe and the international community remain rudderless when it comes to economic policy. Financial leaders, from finance ministers to leaders of private financial institutions, reiterated the current mantra: the crisis countries have to get their houses in order, reduce their deficits, bring down their national debts, undertake structural reforms, and promote growth. Confidence, it was repeatedly said, needs to be restored.”

Der Spiegel “As concerns about Spanish banks grow, leading economists are warning that Europe’s banking system urgently need to be overhauled, otherwise the entire monetary union could be in jeopardy. The continent’s leaders missed their chance to reform the system in the wake of the 2008 financial crisis, and are now paying the price.”

BBC “Pro-bailout parties in Greece performed poorly, while Francois Hollande won the French presidency, promising to focus more on growth.”

Please follow our community rules when engaging in comment discussion on this site.
Dec 2, 2015
Tents are erected outside of Princeton University's Nassau Hall, where students are staging a sit-in, Thursday, Nov. 19, 2015, in Princeton, N.J. The protesters from a group called the Black Justice League, who staged a sit-in inside university President Christopher Eisgruber's office on Tuesday, demand the school remove the name of former school president and U.S. President Woodrow Wilson from programs and buildings over what they said was his racist legacy. (AP Photo/Julio Cortez)

The hot debate over Woodrow Wilson’s legacy and whether his name should be removed from the Princeton campus for his racist views. It’s now a national debate. Plus, protests drive Chicago’s police chief to resign.

Dec 2, 2015
This Thursday, Oct. 24, 2013 file photo shows Snapchat CEO Evan Spiegel in Los Angeles. The social media company is one of many so-called "unicorn" startups valued at more than $1 billion in what some see as an over-heated tech market. (AP Photo/Jae C. Hong, File)

The herd of tech startups valued at more than a billion dollars – so-called “unicorns,” Airbnb, Uber – and whether their bubble is about to burst.

Dec 1, 2015
In this 2010 file photo, Dr. Tom and Ann Earley work a Salvation Army kettle with their dog, Bocce, in an Atlanta, GA-area shopping center. (Flickr / Vicki DeLoach)

On #GivingTuesday, we’ll explore the trends in giving now from crowd sourcing to big charities and beyond.

Dec 1, 2015
Bethany Winder, a nurse who lives in Colorado Springs, Colo., plants a sign in support of Planned Parenthood just south of its clinic as police investigators gather evidence near the scene of Friday's shooting at the clinic Sunday, Nov. 29, 2015, in northwest Colorado Springs. (AP Photo/David Zalubowski)

Women’s health, American politics and gun violence after the Colorado Springs Planned Parenthood shooting.

On Point Blog
On Point Blog
Where Did #GivingTuesday Come From, Anyway?
Tuesday, Dec 1, 2015

Today’s #GivingTuesday. But how — and where — did it start?

More »
Fresh Ideas For Your Thanksgiving: Recipes
Wednesday, Nov 25, 2015

Did our Thanksgiving 2016 episode make you hungry? Good news — we’ve got recipes right here.

More »
Karl Rove Still Won’t Get Involved In The 2016 G.O.P. Primary
Tuesday, Nov 24, 2015

Karl Rove may say he’s not endorsing or getting involved in the 2016 G.O.P. presidential primary, but that won’t stop from offering advice on how to beat Republican front runner Donald Trump.

More »