Econ 101: May 7, 2012

Welcome to ThinkProgress Economy’s morning link roundup. This is what we’re reading. Have you seen any interesting news? Let us know in the comments section. You can also follow ThinkProgress Economy on Twitter.

  • Socialist candidate Francois Hollande defeated Nicolas Sarkozy in a run-off for the French presidency. [New York Times]
  • Parties supporting austerity won just 32 percent of the vote in yesterday’s Greek elections. [Reuters]
  • Republicans on the House Budget Committee this week will push forward cuts to social safety net programs, in an effort to undo scheduled cuts in defense spending. [The Hill]
  • The U.S. Treasury plans to sell $5 billion of AIG stock, reducing its stake in the bailed out insurer to 63 percent. [Financial Times]
  • The Senate this week will vote on a Democratic plan to prevent student loan interest rates from rising in July. [Associated Press]
  • House leaders say they’ve reached a deal to reauthorize the Export-Import Bank. [Reuters]
  • Grocers that promised to open 1,000 stores in so called “food deserts” have actually opened just a fraction of that number. [Bloomberg]
  • The AFL-CIO’s Super PAC is set to start running ads targeting Mitt Romney. [The Hill]