The growing anti-austerity movement in Europe received a big boost this weekend with the defeat of French President Nikolas Sarkozy and the defeat of Greek’s two largest political parties. In France, François Hollande is set to become the first Socialist to lead France since 1995.

François Hollande: “I am the president of the youth of France! I am the president of all the collective pride of France! I am the president of justice in France! Carry this message far! Remember for the rest of your life this great gathering at the Bastille, because it must give a taste to other peoples, to the whole of Europe, of the change that is coming.”

In Greece, anti-bailout parties placed first and second in Sunday’s election, ousting Greek’s ruling parties from power. The right-wing New Democracy Party won 19 percent of the vote. The Coalition of the Radical Left, or Syriza, placed second. One Greek analyst told the Financial Times, “There is a whole generational shift happening in just one night.”