The stunning victory of the French Socialists and wipe-out of mainstream parties in Greece sent shock waves on Sunday night crashing throughout the continent of Europe. Supporters of Socialist Francois Hollande celebrate in Paris François Hollande's election threws down the gauntlet to Angela Merkel, the German Chancellor, who has railroaded the eurozone into agreeing a new "fiskalpakt" treaty enshrining Germany's austerity doctrine. The economic doctrine of austerity, to cut the burden of state spending to free up the economy, has ruled supreme with the support all of Europe's leaders, the European Union and financial markets. But political leaders were on...