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François Hollande has won power in France, turning the tide on a rightwards and xenophobic lurch in European politics and vowing to transform Europe's handling of the economic crisis by fighting back against German-led austerity measures.
The 57-year-old rural MP and self-styled Mr Normal, a moderate social-democrat from the centre of the Socialist party, is France's first left-wing president in almost 20 years. Projections from early counts, released by French TV, put his score at 51.90%.
His emphatic victory is a boost to the left in a continent that has gradually swung right since the economic crisis broke four years ago.
Nicolas Sarkozy, defeated after one term in office, became the 11th European leader to be swept from power since the economic crisis in 2008. He conceded defeat at his headquarters in the Mutualité: "I will never be like those who have beat us," he said. "From the bottom of my heart I want France to succeed with the challenges it faces. It is something much greater than us; France. This evening we must think exclusively of France."
He thanked the French people for letting him lead for five years. "Never will I forget this honour. In the life of a man presiding the destiny of France, it is something I never will be able to forget."
The defeat of the most unpopular French president ever to run for re-election was not simply the result of the global financial crisis or eurozone debt turmoil. It was also down to the intense public dislike of the man seen as "President of the Rich" who had swept to victory in 2007 with a huge mandate to change France. The majority of French people felt he had failed to deliver his promises, and he was criticised for his ostentation display of wealth, favouring the rich and leaving behind him over 2.8 million unemployed. Political analysts said anti-Sarkozyism had become a cultural phenomenon in France.
Hollande is the first Socialist president to win a French election since François Mitterrand's re-election in 1988. Hours before the official announcement, hordes of cheering supporters began gathering at Paris's Place de la Bastille, a flashpoint of the 1789 French revolution, where the left had celebrated Mitterrand's first historic victory in 1981. The right has held the French presidency since Jacques Chirac's victory in 1995.
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I honestly believe the PS could have a cheese sandwich as their Presidential candidate and still beat Sarkozy.