Francois Hollande has defeated conservative incumbent Nicolas Sarkozy to become France's next president.Socialist
According to the Canadian Press, Sarkozy conceded defeat saying he had called Hollande to wish him "good luck" as the country's new leader minutes after the polls closed on Sunday evening. Hollande has promised sweeping changes including government-sponsored stimulus to revive growth, higher taxes for corporations and banks, and a 75 per cent tax rate on the country's super rich.
The election results will not only impact France, but the international community as well.
Here's why Canadians should pay attention to the French election:
There's a large number of French citizens in Canada:
According a Embassy Magazine, there are approximately 80,000 French citizens in Canada, the majority living in Quebec (including NDP leader Thomas Mulcair).
About 46,000 registered to vote for the Presidential election in 2007.
More economic trouble in Europe could mean economic trouble inRead More »from How the French presidential election results, Francois Hollande win could affect Canada