Daily Political Wire

George Wenschhof

Austerity Backlash Impacts France and Greece Elections - watch how world markets react to the results of these elections.

In France, it was Francois Hollande who defeated incumbent President Nicolas Sarkozy and in Greece, angry voters threw out incumbents as their future remains in turmoil as a coalition government has yet to be determined.

You can read more on the France election here.  The Wall Street Journal has their report of the election in Greece, here.

Economist Paul Krugman adds his thoughts here.

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Syria Holds Parliamentary Elections - amid a fragile cease fire between rebels and the Assad led government.  Rebels dismiss the election, calling it a farce and calling the parliament a rubber stamp for Assad.  The NY Times has more here.

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Obama Leads Romney in Swing States - the latest Gallup/USA Today poll has President Obama leading Mitt Romney 47%-45% in the 12 battleground states, likely to dterminer the winner in November.  TheHill.com has more here.

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Keep an Eye on Ally Financial - formally GMAC, which received $17 Billion from the government is set to declare bankruptcy.  The government is still owed $12 billion.  If, Ally Financial fails, llok to see Republicans, and in particular, the Romney campaign attempt to capitalize on the failure.  Reuters.com has more here.

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