Tuesday 8th May

We must move beyond growth versus austerity
French and Greek voters have rejected Europe’s current macroeconomic framework.  The headlines cry that voters demand growth rather than austerity.  Yet growth is not a policy but an outcome.  A vote rejecting the incumbents does not define the policy alternatives.
FT.com {http://on.ft.com/IG8hTt}

Why a 'Greek Exit Would Be Bullish for Everyone'
Greece plunged into chaos following a sweeping leftist election outcome that rejected its two major ruling parties and placed in jeopardy an international bailout put in place to keep the euro together.
CNBC {http://bit.ly/IG8mXn}

Spain Prepares New Push to Shore Up Banks
MADRID—The Spanish government said Monday it is preparing a rescue plan for Bankia SA, the country's largest ailing bank, as part of a renewed drive to shore up its wobbly banking industry amid unprecedented economic crisis.
 WSJ.com {http://on.wsj.com/IG8rud}

France election results 2012: As Francois Hollande wins, Nicolas Sarkozy has met his Waterloo | Mail Online {http://bit.ly/IG9QRp}