In a narrow victory this weekend, French voters ousted incumbent presidential candidate Nicolas Sarkozy in what many see as a popular referendum against harsh austerity measures in Europe
Incumbent Nicolas Sarkozy came in second yesterday to Socialist Francois Hollande in the first round of voting. The two candidates will face a run-off on May 6th, and the ultimate outcome could have big consequences for Europe's debt crisis.
European markets are down significantly, and that's being blamed on elections over the weekend in France that increase the likelihood that Conservative President Nicholas Sarkozy will lose his job.
France will try to borrow a lot more money today. But the low borrowing costs the country has seen every since the European Central Bank handed out a trillion dollars in emergency loans are no longer a sure thing -- that money may be running out.