Sarkozy concedes defeat as Hollande becomes New leader of France

                                 Sarkozy                                                                     Hollande

Europe was plunged into fresh economic chaos last night as France rejected austerity and elected a tax-and-spend socialist presidentNicolas Sarkozy suffered a humiliating defeat at the hands of Francois Hollande, who ran on a platform of tearing up last December’s controversial deal to save the euro from oblivion.
The inexperienced Mr Hollande is now seeking talks with the European Central Bank and German Chancellor Angela  Merkel to demand further borrowing to boost growth