May 6th, 2012
NewsRescue- In what is now recognized as a global recession and public outrage provoked complete overhaul of European governments, the now former French President, Nikolas Sarkozy conceded Sunday to Socialist challenger Francois Hollande, who defeated him in a run-off, becoming the new president of France.
The ghost of Gaddafi, haunting Sarkozy from the grave as it appeared, with a scandalous revelation of his initial campaign to powers’ success being sponsored by over 50 Million Euros donated by the very same Gaddafi and Libya which he led the assault and decimation of. This revelation was enshrouded in suspicious assassinations of key Gaddafi government officials, including a former minister who was found dead in a river in Vienna, Austria.
Sarkozy joined a long list of European leaders including former leaders of Greece and Italy that have since been tossed out due to harsh global environments and the corporate wrought debt crises in Europe.
Francois Hollande is the nation’s first left-wing president since Francois Mitterrand’s rule which ended 1995.
Socialist Francois Hollande wins French presidency
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.
Exuberant Hollande supporters have already converged on Place de la Bastille in Paris – a traditional rallying point of the Left – to celebrate.
Mr Hollande capitalised on France’s economic woes and President Sarkozy’s unpopularity.
The socialist candidate has promised to raise taxes on big corporations and people earning more than 1m euros a year.
|Source: TNS Sofres Sopra Groupe|
He also wants to raise the minimum wage, hire 60,000 more teachers and lower the retirement age from 62 to 60 for some workers.
In his concession speech, Mr Sarkozy told stunned supporters that he was “taking responsibility for defeat” – without elaborating.
During the campaign, he said he would leave politics if he lost the election.
It is only the second time an incumbent president has failed to win re-election since the start of France’s Fifth Republic in 1958.
The last was Valery Giscard d’Estaing, who lost to socialist Francois Mitterrand in 1981. Mr Mitterrand had two terms in office until 1995.
The new president is expected to be inaugurated later this month.
A parliamentary election is due in June – BBC
featured img: AFP ( capitalfm.co.ke)