Plus   Neg

Francois Hollande Crowned New President Of France


Francois Hollande was crowned the new President of France beating Nicholas Sarkozy. Hollande got 52 percent votes, while Sarkozy managed to get only 48 percent of votes.

Failing to win a second term in Presidency, Sarkozy now shares the fate of Valery Giscard, who failed a second term in Presidency in 1981.

Hollande has been keeping an upper hand in the campaign as well as the first round of voting. He was ahead of Sarkozy in the opinion polls held on Thursday.

During the campaign Sarkozy and Hollande have been trading accusations. Hollande alleged that Sarkozy ruined the economy, while Sarkozy criticized the spending plans of Hollande.

Economic crisis, lower credit rating and double digit jobless rate raised negative sentiments towards Sarkozy. Turmoil in the market in the last couple of years dented the prospects of a second term.

During the last one year of his tenure, Sarkozy has been busy negotiating with Germany and other European countries, however the result shows that it has not helped to win the hearts of the French people or to add momentum to his campaigns.

Earlier, while addressing a rally, Sarkozy has said that he will fight until the last second of the last minute to win the election. During the last lap of the battle, Hollande has been expressing optimism and he claimed that, "...victory is within our grasp."

Francois Hollande emerged as the presidential candidate when Dominique Strauss-Kahn, the former chief of International Monetary, was entrapped in a series of sex scandals. Hollande was the First Secretary of the French Socialist Party from 1997 to 2008. He has served as Deputy of the National Assembly of France for Corrèze's 1st Constituency since 1997, and previously represented that seat from 1988 to 1993. He was the Mayor of Tulle from 2001 to 2008, and has been the President of the General Council of Corrèze since 2008.

Hollande was graduated from École nationale d'administration or ENA in 1980 and immediately after that he worked as a councilor in the Court of Audit.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Market Analysis

Follow RTT