Frances Sarkozy concedes defeat in election

Nicolas Sarkozy becomes the 11th European leader to be swept from office by the economic crisis
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Socialist candidate Francois Hollande won France's presidential election runoff on Sunday, beating President Nicolas Sarkozy by a clear margin, according to projections by pollsters. (Getty Images)
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Polling institutes predicted Hollande would win between 51.8 and 52.0 percent of the vote versus Sarkozy's tally of between 48.0 and 48.2 percent. (Getty Images)
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Hollande, who had led conservative incumbent Sarkozy in polls for months, would become France's first Socialist president since Francois Mitterrand left office in 1995.(AFP/Getty Images)
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A French citizen casts his ballot during the presidential election final round, at the polling station in the French consulate in Sao Paulo, on May, 5, 2102. Political speeches and new opinion polls have been banned on the eve of France's presidential election final round that Socialist Francois Hollande was predicted to win --52-48-- despite incumbent Nicolas Sarkozy closing the gap after wooing the far-right. (AFP/Getty Images)
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A French citizen has his name checked on the electoral roll before being allowed to cast his ballot at the French consulate in Sydney on May 6, 2012. French citizens in Australia began voting in the second round of presidential elections in which incumbent Nicolas Sarkozy is facing Socialist challenger Francois Hollande. (AFP/Getty Images)
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A French national leaves after casting his vote at the French International School, utilized as a voting center, in Hong Kong on May 6, 2012. France goes to the polls with frontrunner Hollande hoping voters will reject French presidential candidates incumbent Nicolas Sarkozy's record in office and make him the country's first Socialist president since 1995. (AFP/Getty Images)
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French citizens cast their ballots at the Alliance Francais language school in Sydney on May 6, 2012. French citizens in Australia began voting in the second round of presidential elections in which incumbent Nicolas Sarkozy is facing Socialist challenger Francois Hollande. (AFP/Getty Images)