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Socialist Francois Hollande set to begin work as French President

Hollande won 51.9 percent to former President Sarkozy's 48.1 percent in the French presidential election. President-elect Francois Hollande is to start work on forming a new government, after telling supporters his victory gave hope of an end to austerity.
As it was universally expected, Socialist candidate Francois Hollande has become the new President of France on Sunday, May 5th.

Hollande won 51.9 percent to former President Sarkozy's 48.1 percent in the French presidential election. French President-elect Francois Hollande is to start work on forming a new government, after telling supporters his victory gave hope of an end to austerity.

Mr Hollande has vowed to rework a deal on government debt in eurozone member-countries to focus on promoting growth. Centre-right incumbent Nicolas Sarkozy is the first French president since 1981 not to win a second term. He will hand power to Mr Hollande on 15 May, following talks between the two camps, the presidency has said.

Hollande wants to renegotiate a hard-won European treaty on budget cuts that Germany's Angela Merkel and Sarkozy had championed. He wants more government stimulus, and more government spending in general despite concerns from markets that France needs to urgently trim its huge debts.


Socialist Francois Hollande set to begin work as French President

 
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