Election results in both Greece and France may not bode well for ending Europe’s sovereign debt crisis, but nevertheless, U.S. stocks were able to finished mixed Monday. Speaking on CNBC’s “ Mad Money ,” Jim Cramer reminded his viewers of what a difference a year makes.
“This isn’t 2011 where Europe could kill us,” Cramer said. “It’s 2012 and things are very different.”
An anti-austerity backlash by voters in Greece and France shook the Eurozone on Monday, causing jitters for the euro currency and stock markets amid deepening doubts about whether Greece has a future in the single currency.
Greece , where Europe's sovereign debt crisis began in 2009, slid into turmoil after an election on Sunday boosted left and right-wing fringe parties, stripping the two mainstream parties that backed a painful European Union/International Monetary Fund bailout of their parliamentary majority. The Greek result overshadowed France's presidential election, in which Socialist Francois Hollande , who wants to change Europe's policy focus from austerity to restoring growth, ousted conservative incumbent Nicolas Sarkozy.
Yet U.S. stocks recovered from session lows to finish mixed, as investors shrugged off worries over Europe’s ongoing debt crisis.Page 1 of 3 | Next Page