European Elections, successful or not?

In the past year, Europe has been plagued with severe economic crises since European nations' debt has began to spiral out of control.  Most notably, Greece has been at the top of the headlines for the European nation in most trouble and near default with 165.3% Public Debt to their GDP.  Many European countries, including Greece, have attempted to implement various austerity measures to combat their debt.  However, they have not been well received from the citizens of the countries.  Austerity measures are crucial because they are vital to decreasing public debt.  Some examples include increasing taxes, retirement age, cut of social programs, and decreased government spending. 
France and Germany have been the strong countries in Europe who have guided other nations away from default and towards economic recovery, however, they too experience debt problems of their own.
Recently, both Greece and France had government elections.  First I will discuss Greece and its election.
Greece has been victim of violent protests in its streets due to the attempted implementation of austerity measures.  The current government at the time tried to take action to combat their debt by increasing retirement age of their citizens, and creating and increasing taxes (a majority of the Greek population does not pay taxes).  In the election, the two parties were opposites.  One was pro austerity measures (the current government) and the opposition was against austerity measures.  On May 6th, 2012, the citizens went to the polls.  The New Democracy party won with 18.85% of the vote winning 108 seats and the new opposition is the Radical Left Coalition with 16.78% of the vote winning 52 seats.  The new government and their new leader, Alexis Tsipras, was not supportive of the austerity measures prior to the election.  In the Greek election, one party - the Radical Left Coalition, represented hope and survival for Greece with the implementation of austerity measures.  And the other party - the New Democracy party, represented the Greek voice and what they wanted and did not want.  In the end, the Greek voice prevailed, however, severe implications and problems will result from the new government due to the lack of action they will take against the Greek debt.  Perhaps Greece will near default after all? Only time will tell.
The second election to discuss is the most recent France election.  Nicolas Sarkozy and Angela Merkel have been the backbone of Europe during the European economic and debt crisis.  Unfortunately, Sarkozy's Presidency has come to an end.  Sarkozy lost the election to opponent, Francois Hollande.  The vote was extremely close: 51.63% of the vote went to Hollande and 48.37% of the vote went to Sarkozy.  Similar to Greece, the party not supporting austerity measures prevailed.  Although France is not in a state of economic turmoil like Greece or Spain, it still has its own debt problems.  And without the implementation of austerity measures in France, they will soon be in trouble as well.  The world markets have reacted very negatively over the past few days after the announcement of Sarkozy's loss. 
Both of the elections in France and Greece, in my opinion, would be considered unsuccessful.  The rejection of austerity measures is a significant turning point and will truly put Europe in state of economic turmoil and risk economic collapse.  The rightful powers to save Europe from economic collapse were not elected into office and this will be seen and felt throughout Europe and the world in the next few months and years ahead.