Socialist Francois Hollande 'wins French presidency'

Socialist Francois Hollande has been elected as France's new president, early estimates say.

He got about 52% of votes in Sunday's run-off, according to projections based on partial results, against 48% for centre-right incumbent Nicolas Sarkozy. Mr Hollande would be the first French socialist president since 1995. Analysts say the vote has wide implications for the whole eurozone. Mr Hollande has vowed to rework a deal on government debt in member countries. The estimates were carried by French media after all polling stations closed at 20:00 (18:00 GMT). Exuberant Hollande supporters have already converged on Place de la Bastille in Paris - a traditional rallying point of the Left - to celebrate. Mr Hollande capitalised on France's economic woes and President Sarkozy's unpopularity.