Sarkozy Out; France Gets New President
Socialist Francois Hollande will be France’s new president.
Hollande inherits an economy that’s a driver of the European Union but is deep in debt. He wants more government stimulus, and more government spending in general, despite concerns in the markets that France needs to urgently trim its huge debt.
Sarkozy conceded defeat minutes after the polls closed, saying he had called Hollande to wish him “good luck” as the country’s new leader.