France voted in a presidential run-off election Sunday expected to see Socialist challenger Francois Hollande defeat incumbent Nicolas Sarkozy by capitalizing on public anger over spending cuts and a Europe-wide push for austerity.
As expected Francois Hollande and incumbent Nicolas Sarkozy will square off on May 6 in round two of the French presidential elections.
However, there was a huge surprise in spot number 3 as extreme right wing candidate Marine Le Pen pulled in 18% of the vote running on a dump-the-euro platform.
First Round Totals
Hollande: 28.6%
Sarkozy: 27.1%
Le Pen: 18%
Please consider Le Pen voters to arbitrate Hollande-Sarkozy duel
Latest polls show French President Sarkozy is losing ground to right-wing anti-euro candidate Marine Le Pen in the first round of the France presidential election. Via Google translate, please consider Le Pen and Bayrou Back
Many told me that French president Francois Hollande was making idle campaign pledges on tax hikes and worker rules, and the he would not follow through. Well he did, at least on taxes.
The Financial Times reports Wealthy hit hardest as France raises taxes
All eyes are focused on the Greek election on Sunday.
However, a fundamentally far more important election (for the long term) will take place in France on Saturday.