FRANCE: Socialist challenger Francois Hollande defeats incumbent Nicolas Sarkozy for the presidency in May 2012 by capitalizing on anger over austerity measures. As president, Hollande is expected to push for a more stimulus-minded approach to the financial crisis in France and the rest of Europe. Above, Sarkozy leaves the Elysee Palace in Paris on May 15 after a handover ceremony. (AP Photo/Michel Euler)

ITALY: Silvio Berlusconi, the long-serving leader and survivor of scandals over everything from allegedly bedding escorts to serial corruption, finally bites the dust in November 2011. He resigns to cheers and jeers as investors lose confidence in his ability to spur economic growth and rein in debt. It's the end of a political era. Mario Monti, a former European Commissioner, is named to replace him and lead a technical government until elections in 2013. (AP Photo/Roberto Monaldo)

GREECE: Greek Socialist leader George Papandreou, right, swept to power in October 2009 pledging to spend his way out of a deteriorating economic situation. Two years later, at the height of Greece's worst financial crisis since World War II, Papandreou's own deputies force him out after he endangers a hard-won bailout by pledging to put it to a referendum. Above, Papandreou and Finance Minister Evangelos Venizelos react during a confidence vote at the parliament in Athens Nov. 4, 2011. (AP Photo/Petros Giannakouris)

SPAIN: A burst real estate bubble also deflated faith in a Socialist government, which was nonetheless reluctant to acknowledge Spain has problems. Blips of good economic news are seized upon as "green shoots" pointing to recovery. Wrong. Stimulus measures are enacted, then crushing austerity. Unemployment soars. The Socialists of Jose Luis Rodriguez Zapatero, above, are wiped off the map in November 2011 elections; Mariano Rajoy's conservatives take over. (AP Photo/Geert Vanden Wijngaert)

BRITAIN: Gordon Brown leads the Labour Party to defeat in the May 2010 election; Conservative Party leader David Cameron becomes leader of a coalition government. Brown had been finance chief for a decade before succeeding Tony Blair in 2007. Brown had boasted endlessly of ending the cycle of boom and bust – but as prime minister he presided mostly over bust. Above, Brown walks out of No. 10 Downing Street on May 11, 2010, to announce his resignation. (AP Photo/Alastair Grant)
 

IRELAND: Brian Cowen, promoted to prime minister in 2008 after being finance minister, doesn't even get to run. He resigns as leader of the Fianna Fail Party weeks before the February 2011 election. It doesn't help his party, which suffers its worst ever defeat. Cowen was finance minister during Ireland's banking crisis and the collapse of its housing bubble. (AP Photo/Peter Morrison)
 

PORTUGAL: A month after Portugal requests a 78 billion-euro bailout, the center-left Socialist government of Jose Socrates is voted out of power in June, 2011. Portugal's woes stemmed from a decade of feeble growth as it failed to modernize amid increasing global competition and dug itself deeper into debt. Above, Socrates leaves the stage after acknowledging defeat in parliamentary elections on June 5, 2011, in Lisbon. (AP Photo/Paulo Duarte)

FINLAND: Finland's government is reconfigured after June 2011 elections following a sharp surge in support for nationalists who oppose bailouts for debt-stricken eurozone countries. A conservative-led coalition spanning left and right is formed to keep the nationalist True Finns out of power. Above, Prime Minister Mari Kiviniemi reacts after parliamentary elections in April, when her Center Party fell behind two opposition parties that have challenged eurozone bailouts. (AP Photo/LEHTIKUVA, Heikki Saukkomaa)

 

DENMARK: A center-right government in Denmark loses power in part due to discontent over austerity measures introduced amid the debt crisis. It is replaced by a center-left coalition. Above, Prime Minister Lars Loekke Rasmussen, head of the Liberal Party, arrives at Amalienborg Castle in Copenhagen on Sept. 16, 2011, to hand in his resignation to Queen Margrethe. (AP Photo/POLFOTO, Jacob Ehrbahn)