Francois Hollande is the new president of France

Francois Hollande is the new president of France

POSTED: Tuesday, May 15, 2012 - 8:30am

UPDATED: Tuesday, May 15, 2012 - 8:34am

Socialist Francois Hollande has become the new president of France. Before officially taking office, Hollande bid farewell to Nicolas Sarkozy and his wife Carla Bruni-Sarkozy. Sarkozy was voted out of office after just one term. Hollande was declared president after a private meeting with Sarkozy at the Elysee Palace in central Paris.

Hollande is the first socialist French leader since Francois Mitterand left power in 1995. He is quickly being thrown into dealing with the European debt crisis. Hollande is leaving for Berlin tuesday to meet German Chancellor Angela Merkel to discuss austerity and growth in Europe.

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