Disgruntled French Bid Sarkozy ‘adieu’
Published: May 6, 2012
Disgruntled French Bid Sarkozy ‘adieu’, Hollande defeats Sarkozy to win French election:François Hollande won the French presidential election on Sunday, capturing more than 51 percent of the vote to defeat incumbent Nicolas Sarkozy and become France’s new president, according French television.
Sarkozy, who has held the French presidency since 2007, grabbed 48.1 percent, according to the polls.
Hollande, the 57-year-old socialist challenger, narrowly edged Sarkozy, also 57, in a preliminary election two weeks ago, but since he did not win with an absolute majority, France law required a runoff between the top two candidates.
Sunday’s victory means France will have its first Socialist president since since Francois Mitterrand, the country’s president from 1981 to 1995. In voting Sarkozy out of office, French voters expressed their discontent over Europe’s debt crisis.
French television declared the election for Hollande immediately after the polls closed Sunday. Moments later, Sarkozy told his supporters that he called Holland to congratulate him, and to concede victory.
“I take the responsibility for this loss,” Sarkozy said. “I’m ready to become a French person among French people, and more than ever I have the love for my country deeply ingrained in my heart.”
Hollande’s victory could have far-reaching implications on Europe’s debt woes. According to the Associated Press, Hollande has promised a 75-percent income tax on the rich and “wants to re-negotiate a European treaty on trimming budgets to avoid more debt crises of the kind facing Greece.”
Indeed, Hollande’s victory will be seen as a challenge to “German-dominated policy of economic austerity in the euro zone, which is suffering from recession and record unemployment,” the New York Times said.
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