Backlash against Eurozone austerity

A political backlash against fiscal austerity left mainstream French and Dutch politicians struggling on Monday to shore up support as a key economic indicator highlighted the Eurozones slide into deeper recession.

Franois Hollandes first round victory in the French presidential elections which raised fears of renewed wrangling over the Eurozones economic strategy and the collapse of the Dutch government, after a clash over fiscal policy, hit financial markets.

The heightened political uncertainty sent European stock markets tumbling and put pressure on French and Dutch sovereign debt, while Germanys government bonds benefited from inflows from spooked investors ... READ MORE

Released by the Financial Times - 23 April 2012