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France Elects New President| International News by Staff Reporter
François Hollande has been elected new French President
France elected a new President on Sunday as François Hollande beat ex President Nicolas Sarkozy with 51,7% of the runoff vote.
Hollande’s success was announced over a giant screen to tens of thousands of his supporters who erupted into cheers and rejoicing.
The newly elected Socialist President arrived at the party after midnight, pausing the revellers briefly only address to address the crowd.
“I am the president of youth. I know how happy you are, those of you who were here 31 years ago, but I also know how much you, the younger generation, want to take part in building the French nation,” said Hollande.
“In every capital, beyond the heads of government and heads of states, there are people who have found hope thanks to us, who are looking to us and want to put an end to austerity.”
Hours after his victory speech, however, the euro had fallen to a three-month low.
Hollande is set to meet German Chancellor Angela Merkel, who dismissed his chief promise of renegotiating the two-month-old euro bailout pact to allow for more government spending, to discuss the way forward.