Hollande elected French President

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May 7, 2012

Socialist Francois Hollande has won in May 6 run-off, gathering 51,67% of votes.

Centre-right incumbent Nicolas Sarkozy got 48.33%. Nearly all votes, except from overseas, have been counted.

Turnout stood at 81.03%, reports AFP.

According to public opinion research companies CSA, TNS Sofres and Ipsos, Hollande gathered 52% of vote, while Sarkozy – 42%.

Harris Interactive data shows Hollande got 52.7% – 53.3% of vote.

As reported, Sarkozy admits defeat, saying: “Francois Hollande is the president of France and he must be respected.”

The socialist wants to raise taxes on big corporations and people earning more than 1 million euro per year, reports BBC.

Hollande has also pledged to increase the minimum wage, hire 60 000 more teachers and cut the retirement age from 62 down to 60 for some workers.

The new president will be inaugurated later this month.

A parliamentary election will be held in June.

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