Breaking News French Election
Sunday, May 6, 2012 19:38
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Lord Stirling’s News Blog EUROPE
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BREAKING NEWS
Socialist Hollande ousts Sarkozy as French President ~ link ~ Socialist Francois Hollande swept to victory in France’s presidential election on Sunday in a swing to the left at the heart of Europe that could start a pushback against German-led austerity.
Hollande was set to beat conservative incumbent Nicolas Sarkozy by a decisive 51.9 percent to 48.1 percent margin, the TNS-Sofres polling agency said in a projection based on a partial vote count.
The president conceded defeat within 20 minutes of the last polls closing at 8 p.m. (1800 GMT), telling supporters he had telephoned Hollande to wish him good luck.
Socialist Francois Hollande wins French Presidency ~ link ~ He got about 52% of votes in Sunday’s run-off, according to early projections, against 48% for centre-right incumbent Nicolas Sarkozy.
Mr Sarkozy has admitted defeat, saying: “Francois Hollande is the president of France and he must be respected.”
Analysts say the vote has wide implications for the whole eurozone. Mr Hollande has vowed to rework a deal on government debt in member countries.
France’s “Mr. Normal” Hollande to move into Elysee Palace ~ link ~ He dubbed himself “Mr Normal” during France’s presidential election campaign, a modest scooter-riding everyman in touch with the concerns of ordinary voters.
But, after winning France’s presidential vote, Socialist Francois Hollande faces some far-from-ordinary challenges as the leader of the eurozone’s second-largest economy, a nuclear-armed UN Security Council member.
Sarkozy, the hyperactive president who disappointed France ~ link ~ Nicolas Sarkozy’s defeat on Sunday marked the end of a five-year presidency during which he divided a France that had put its hopes in him to break with a history of timid government complacency.
Never has a French president been so disliked, as much for his personal style as for his austere deficit-busting policies, and the right-wing leader vowed months ago to quit politics if defeated.
What everybody is getting wrong about the new President of France ~ link ~ Just focus on Hollande as a force to breakup the “Merkozy” establishment, and perhaps take Europe away from the current destructure policies, which have exacerbated the debt crisis, while also further pushing countries deeper into recession.
Hollande ousts Sarkozy as French leader ~ link ~
Sarkozy, punished for his failure to rein in record 10 percent unemployment and for his brash personal style, is the 11th successive leader in the euro zone to be swept from power since the currency bloc’s debt crisis began in 2009.
Jubilant left-wingers celebrated outside Socialist Party headquarters and in Paris’ Bastille square, where revelers danced in 1981 when Francois Mitterrand became France’s only other Socialist president.
But the celebrations may be overshadowed by a political bombshell in Greece, where mainstream parties were hammered in a parliamentary election that exit polls suggested may leave supporters of Athens’ IMF/EU bailout without a majority, raising doubts about its future in the euro zone.
Greek elections: One-Seat Majority for ruling coalition parties – Fringe parties see massive support ~ link ~ Too bad the ruling coalition parties did not totally fail. This insures that likelihood of a revolution or something like a revolution in the months ahead. However, this is still just an official estimate, real final results are not in yet. Stirling
Read more at Europe Business Blog
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