the socialist francois hollande defeated nicholas sarkozy byte 52% of those votes to 40%. >> hollandeas pledged to unify the nation and focus on helping working class people. but first, a socialist president -- the first socialist president in 17 years. he has called for any kid -- a renegotiation on a treaty of budget discipline, championed by angela merkel and nicolas sarkozy. >> a francois hollande supporters cheered when he appeared at the socialist party campaign headquarters. it had been a long night, but the incoming president said he was ready to get started on his new task right away. >> even though no presidential authority has yet been transferred, everything will be done on time. i must prepare myself. i have said i am ready. now i need to be. >> french newspapers are hailing the first socialist president in nearly two decades as the start of a new era. expectations are high. >> i really hope there will be a change and especially that he keeps his promises. >> the state coffers are empty in france. it will be difficult for the new president as well. >> i trust him, and i b

in the case of france what hollande -- friends what -- francois hollande, she is valley, a seasoned political journalist. his side, hollande was able to compete with sarkozy's constant media presence. even the glamour factor of sarkozy's wife, the former model, could not save his campaign. valerie comes from a less privileged background. her father was disabled in world war ii and her mother worked as a cashier. valerie became the host of political talk shows on commercial television. she is known as a tough journalist, but the role of the premier game premierdame -- dame requires other factors. >> it is going so fast. there's so much turbulence. any time to process it. >> how does she see her future? >> i will need time to think about it. >> she is giving longer interviews only to select journalists. among the chosen few, a former colleague. she says valerie wants to keep working and does not want to be dependent on a man, not even hollande. >> she is a woman who has the same concerns as everyone else in france. she wants to keep working to earn money to support her three adolescents childre

that's the scene live there at hollande h.q. no doubt a bit of celebrating, maybe a few headache pills as well after last night. that's the scene here in paris. a lot more still to come from us. but for now, back to you in the studio in london. >> john sopel, many thanks. and thank you for watching here on "bbc world news." i'm david eades. still to come -- despite all the violence, syria goes to the polls for its first multiparty elections in more than 50 years. india has overtaken the u.s. as the world's biggest source of electronic junk mail. one in 10 spam emails comes from or passes through computers in india, and experts say the rapid growth of internet use there has left many inexperienced buses unprotected against fraud. >> breaking down computers to service the parts is how this company makes its money. but it's a bigger i.p. problem that they're now worried about. the threat of sabotage is much more than simple data theft. it could be online banking or trading fraud or people being targeted by so-called phishing emails

hollande is an interesting guy, though. because he's often typed as a kind of weak, you know, kind of the french marshmallow type. and the french satirical puppet show always shows him as a giggley vague guy. they had him passing out from dieting last year, yet everyone i talked to in paris who knows him say he is an extromly intelligent, and able guy with a hard-core within him. that there is a real discrepancy between the image that he projects of mildness, and the reality of the man. and let's remember too, charlie, that though this is the first socialist president in a long time, there have been socialist governments right along. things like the 35 hours, for instance, were produced by socialist governments under right wing presidents. so i tend to think that the changes will be much less radical than people desire or fear, depending. >> rose: who do we expect to serve with him? who might be his prime minister? who might be his foreign minister. >> various names are put forward. i suspect that people in france know bett

hollande, they're both pragmatists.it work because they know they have no other choice. >> diana, thank you for that. christian, you've got views on germany and how it plays on this? >> i think diana is right. i think germany is the key player right now. and the thing is that, you know, as we saw from christine's charts, the germans are the only europeans doing real well right now, and that's because the construct favored the european economy. a good way to think about germany is, it was the china of europe. it had export-led growth. it was able to export to the rest of europe. and thanks to the euro, the currency that germany had was lower, less highly valued than the deutsche marc would have been, putting some muscle behind -- >> gave them an advantage. >> right. americans complain about china keeping its currency low to export to the rest of the world. but the southern europeans have really, really suffered because of this arrangement. >> and it went the other way for them. >> and the question is, are the germans pre

francois hollande makes his debut, at a showdown with germany could be on the cards. >> and a historic day as egyptians go to the polls to elect a president. >> talks in baghdad on iran's nuclear program. can they end the standoff. well, it is being called the summit for growth, and it could turn into a showdown between france and germany with france's new president, francois hollande pushing for a shift from austerity to growth as the way out of the crisis. >> that it's against angela merkel, who has been the strongest supporter of austerity. them at the idea is to pool debt between all the eurozone's member states. it is a proposal that has come up many times over the past couple of years. >> francois hollande says it is time to get eurobonds' back on the table. >> this is the first eu summit for france's newly elected president, francois hollande. since his win on a campaign, focus has shifted to restoring growth in europe. hollande says eurobonds are one way to prevent further recession. >> the question is -- what are the best instruments and means to promote growth? eurobonds are

hollande on the front page again. hollande saying, "it is never your fault, is it, mr. president?" the president says, "mr. hollande, i am not your pe upil." in 2007, there was a feeling that sarkozy was condescending. this time, mr. hollande has the confidence of a candidate. >> a key battleground now. >> if i can just show you the scene here -- we have 2,000 years of history next to me. in all the example of roman architecture. it tells you that the history in this part of france -- the old industries dominate here. firming, winemaking, textiles. there is a high unemployment above the national average. villages around places like me that the voters in the first round of the votes -- of course, they did well. it was here that they enjoyed their biggest success. the question we will be asking all day, what does the debate mean to people here? will those votes go to either of the two candidates? the simple answer is there is huge and disillusionment here with the mainstream. they do not think they've gotten the answers from mr. sarkozy or mr. hollande. le pen said they should go wit

he hit -- francois hollande is a cautious man. he is not a revolutionary. the french people are as pragmatic and cautious as he is. are the people who voted for him pragmatists? i am not sure. france is a country that has many difficulties dealing with the real world, if we can say that. austerity is not a word that is accepted, really. in a way, the election of hollande was caked with reform, which sarkozy tried to push through for five years. of course, he did not push so hard because of the crisis. but still, this was the name. i think the rejection of sarkozy is not only a personal rejection of his personality, which is clear, but is also the sort of fear of change that we have in this country. >> darren, the economic consequences for this country and for europe. >> if europe gets worse, it is not good. >> the economy declines. >> uncertainty is a buzzword. people use it. i think a better word is fear. there is fear that people do not know what is going to happen. the greeks are struggling to form a government. i think he really hit it on the head. is e

hollande has made mistakes perhaps. he has promised french voters he would renegotiate the fiscal pact. it has been signed off on by 25 heads of government in the you and antelope -- in the eel, and -- in the eu and angela merkel has said no way. what he would like to have is a supplementary program of what he calls growth. >> could we see merkel budget on this? is there will room for her? -- wiggle room for her? >> i think she will make concessions to him. there are many different definitions of economic growth policies. the social democrats, the opposition in germany, have put forward a plan which they have discussed with hollande, and they suggest things like cutting down on bureaucracy, using eu funds that are already there to combat youth unemployment. those are things merkel not be opposed to. she has discussed the eu policies with the spd all along. what she does not want to do is finance any growth policies by increasing debt. >> alright. thank you very much. will have more on the future of france in -- we will

hollande wants to pull french troops out of afghanistan this year. and feels no instinctive ties to nato. but it's his economic policies that could rattle international markets come tomorrow, while sarkozy becomes the 11th european leader to fall during the crisis. and tonight's result was echoed today in greece, lester, where in legislative elections there, greeks fed up with austerity and cutbacks punished the two mainstream parties and turned to an extreme right-wing group. that posted both austerity and immigrants. the forecast there isn't good. long and painful negotiations for a new government, and then much more instability. lester? >> jim maceda starting us off tonight in paris. thanks. and we brauntd to bring in now john harwood, chief washington correspondent, gives perspective on this. hollande is farther to the left, he wants to push back against the austerity measures. what's the potential fallout with international markets and diplomatically with the u.s.? >> reporter: well, we've already seen today the euro fell to a three-week low. i

within minutes, and a simple ceremony, francois hollande was sworn in. in his inaugural speech, he promised a dignified presidency and wasted no time in sending a signal to berlin about his agenda. >> i will propose a pact that will tide the necessary deductions to be indispensable stimulation of our economy. >> later, francois hollande drove in an open top car. he had already set out his -- he headed for berlin for a crucial meeting with angela merkel. but his plane was hit by lightning in he was forced to return to paris. much later than planned, the new french president arrived at the german chancellery. the welcome was cordial, but a little tense. the chancellor had backed president sarkozy in the election. he was greeted with military honors. as the two leaders negotiated the red carpet, they appeared rather nervous with each other. before beginning discussions on what the french president means over making growth his priority. at a joint press conference, the chancellor warmly welcomed the new french leader and even joked about the lightning strike

. >> you mentioned president elect francois hollande. it says here that he plans to meet with angela merkel, the german chancellor after the inauguration on may 15 to hash out opposing visions for the euro zone. why is it that the french and the germans seem to be on opposing enz of this discussion regarding their vision for the euro zone? >> traditionally france has always played the road of mid e middleman in europe, trying to mediate between the vision put forward by the germans and the more, you know, pragmatic vision put forward by some other european countries. under sarkozy, france had shifted gear. very much in line to the rigorous stance put forward by berlin. i think under hollande, we're going to see the expectation and the hope that there will be more emphasis on growth. and it's really the missing pillar in europe right now. you can enhance budgetary discipline for some country that's even a much meted stat but without putting any emphasis on growth prospects, there's really no way out. and president elect hollande is certai

the end polls we saw sarkozy trailing mind hollande and hollande did win yesterday's presidential election coming out on the top with more than 51% of the vote. sarkozy settles with around 48% of the vote. i know we just had at final results through and we've been flashing those on screen for you. the amount of people that didn't vote also quite high, around 20%, just shy of 20%. so hollande's main issues, one is 45% tax on 150,000 euros worth of pay or more and there's a 75% tax bracket on those who earn 1 million euros or more in pay and also looking to clamp down in bonuses. but the president elect repeated his calls for unity now in france. >> translator: the 6th of may shall be a great day for our country, a new departure for europe, a new hope for the world. this is the mission you've given me. it is a heavy one. a great one. a beautiful one. i love my country, i love the people of france, and i want between us to be a relationship that allows for everything and that is called rust. >> and if you're just joining us this morning, just to recap what we saw out of greece because a stunn

hollande insists there are other ways to trigger economic growth. the president-elect's plan promises more government spending and more government jobs. he also had plans to increase taxes on wealthy individuals and on corporations with the individual top rate going, if he has his way, to 75%. mr. sarkozy, meanwhile, thanked his supporters on sunday, saying he tried his best to win reelection despite widespread anger at his handling of the economy. he took full responsibility for his defeat. the french president lost a second term by 4% of the vote. >>> turning now to greece where voters are also fed up with auss tearty measures taking it out on their politicians in yesterday's parliamentary elections, a majority of greeks came out against the country's two major parties, rejecting support of the international bailout. instead, voters are backing smaller, sometimes fringe groups that oppose aus terty. the future of the country's $171 billion rescue package is now in doubt. not only could greece go bankrupt, but it could also put the country's europe

francois hollande is france's first socialist president in 17 years. voters there angry over how the economy's been handled sent a clear message they are tired of the handling of the economy, spending cuts and austerity measures. thousands of cheering hollande supporters celebrated into the morning hours. hollande, a champion of government stimulus programs, campaigned on a platform of undoing cost cutting measures instituted by the sarkozy government and the rest of europe. in his victory speech, hollande said austerity can no longer be inevitable. his election could reshape the european debt crisis. sarkozy and german chancellor angela merkel had led europe on a cost-cutting europe. hollande wants government sponsored stimulus to revive the growth and wants the very rich to pay a 75% income tax rate. sarkozy, an american-friendly leader, was criticized for his high profile lifestyle. he told his supporters he bears full responsibility for the election loss. hollande was a little known competition who became his party's candidate because the leading c

it looks like hollande will win the election.not done yet, but the question is what consequences for the business community. there is concern about the pension reform that sarkozy implemented some these years ago, but overall feeling is that hollande has softened his position especially on the financial sector and the banking regulation. and after given all the promises that sarkozy made five years ago, hollande might not be the worst solution. that's what i've heard on the ground in the last couple of days. chloe, back to you. >> it's getting juicier and juicier as we get closer to that vote. thank you so much. and coming up next, u.s. officials say china is making positive head way in its goal to liberalize the markets. but is anyone listening? more on that. plus the very latest with emily chan live out of beijing. >>> dialogue is wrapping up in beijing with some mixed messages. wen has asked hillary clinton to respect the differences between the two countries, but overall, wen stressed that the two day dial lock has been highl

president hollande was greeted with military honors. as the two leaders negotiated the red carpet, they appeared nervous with each other, before beginning discussions on what the french president means about making growth his priority. at a joint press conference, welcomedor merkel the new leader and joked about the lightning strike. >> even though the lightning hit, maybe this can be a good omen for our cooperation. >> president hollande and vowed to put everything on the table to boost growth. >> when it comes to growth, it is certainly right. so far, it has not been properly explained. i am happy that the topic of growth is back at the heart about talks. we must work together. >> with greece heading for new elections, both leaders expressed a wish for greece to stay in the eurozone. >> i want to reiterate, we want greece to stay in the euro. we know that the majority of the people in greece see it that way. promises made have to be kept. >> both leaders also hinted extra measures to help greece. the franco-german relationship is key

francois hollande has stayed calm under pressure. both sides of be watching weather this face-to-face encounter has changed minds. it is president sarkozy needs to come out of this with momentum for his campaign. >> newt gingrich will not be the next president of the united states. >> he has officially pulled out of the republican race for the white house. he did not immediately endorse mitt romney. even though he describes -- described in maastricht as certain to become the republican nominee. >> today, i and suspending the campaign. but it does not mean suspending citizenship. >> he only managed to win to state contest during the primary season. it is reported his campaign is more than $4 million in debt. our correspondent explains his support for rival mitt romney. >> i think it would be fair to say that it was almost a non- endorsement. court and almost endorsement. he was basically saying, he may not be a conservative, but he is better than the alternative. he described president obama as the most radical leftist president in u.

hollande is an interesting figure.he routinely described as a moderate socialist. >> like president obama! >> fine. if he -- >> just kidding! >> i think that is -- pretty centrist. and he wants to let up on the gas on that austerity. and he may be able to force merkel to do that. that's a good thing. he's not going to walk away from the austerity package. >> greece is two months from dropping out of the european at least $2 billion from a failed hedging strategy was felt around the globe. by assets j.p. morgan chase is the biggest bank in the u.s. the errors are@ ja rule, ad -d@t fmer aithe fera >> i know it was done with the intention to -- j.p. morgan chase, but i'm telling you it morph ode diver and the new strategy meant to reduce the hedge overall made it more complex, more risky, and it was unbelievably ineffective. we do believer we need to have the able to hedge in a ceo type position and that volcker allows that. this trading -- may violate the rule but violates the diamond principle. >> question, will it set

hollande aims to balance the budget by 2017. he says he wants to focus on economic growth, but plans to hire another 60,000 government workers. some economists say such moves will keep the president-elect from meeting his goal. nicolas sarkozy became the 11th eurozone leader to be swept out of office since the crisis began in 2009. his successor is likely to change the dynamic in any talks over the region's problems. earlier i spoke with our reporter on the background and impact of the election. >> the election was more about referendum on sarkozy than an approval of hollande. the voters are blaming the incumbent president for its failure to rein in the record high unemployment rate. and they are also angry about eu led austerity measures. so those measures have resulted in economic slowdown in france. and voters want to punish sarkozy. >> france has took a leading role in fixing this problem in the euro zone. what is going to happen now? >> hollande has targeted a balanced budget by 2017, but his program emphasizes equality and

hollande's margin was smaller than the polls indicated. in the end based on exit polls it was only in the 3 to 4% range. hollande profited from frustration with france's stagnant economy and from the fact the french electorate had tired of a president that never fully embraced. sarkozy was criticized for his high-living lifestyle and his glamourous wife carla bruni. >> five years of sarkozy is enough. >> reporter: hollande, though, has made his own tabloid headlines. his current partner is french journalist valerie trierweiler who he met when she interviewed him. his previous partner for 30 years was the socialist candidate in the last election here segolene royal who is the mother of his four children. hollande, though, is from the lucky school of politician. he only became his party's candidate because the man who was thought to be the shoe-in for the nomination, dominique strauss-kahn became embroiled in that sex scandal in new york. if he keeps his election promises, francois hollande may dramatically change europe's approach to its ec

hollande @ rehm,. it is president sarkozy who needs to come out of this wealtwith momentum for his camp. >> the u.s. security council has threatened sedan and south sudan -- sudan and south sudan. they want to renew talks. at least 20 people have been killed on an attack on the ministry of defense in cairo. they were protesting about the exclusion of a hard-line islamist candidate in the upcoming election. ukraine has insisted it will host the 2012 matches. authorities have denied she has been beaten in prison. she was jailed for abuse of office. unemployment had a fresh high of nearly 11%. critics say politicians have prioritized austerity at the expense of jobs and growth. newt gingrich has pulled out of the republican race for the white house. he did not immediately endorse his rival, mitt romney. he described him last week as certain to become the republican nominee. >> today i am suspending the campaign, but suspending the campaign does not mean suspending citizenship. >> he managed to win two sta

the markets seem to be worried about hollande. they're listening to his economic rhetoric. do you think french people aren't, really? even though they say the economy is number one on their minds. >> well, yes, they are convinced about francois hollande. they know it sent coming from the center, and it will -- i think there's a changing from the right to the left. and so people are no more worried about that. we are no more in 1981 when people were maybe, for some of them, very afraid about the fact that he could be there. >> thank you very much of opinion way polling agency. so, as you say, as much as politics, this is very, very much about personality and right up until the last second. >> both candidates will be hoping that the sun is shining on them as it is indeed on you, katy. greece is also experiencing election fever. political parties there are holding their final rallies before a general election on sunday to replace the caretaker administration that has run the country for the past six months. so there's speculation that voters who were denied a referendum on an

hollande is a torchbearer for a new europe. it makes the financial markets nervous.in paris, broadly speaking, there is a renewed sense of optimism. >> i think he raises a lot of hope, yes. >> together for so long. and we think it should be all right. >> maybe go to london and leave france, because this program is not really what i expect for france. >> franÇois hollande put young, french people at the heart of his campaign. they have rejected austerity. a challenge to the german leadership of europe. >> it is a result that gives hope to other people, he said, this change. but there is fear that this could persuade other european governments to deviate from cuts and reform. overnight, the europe slumped to its lowest in months. the german chancellor was swift to react. "it is a matter of course that mr. hollande be welcomed in germany, and we are looking forward to essential cooperation." it should be added very soon, she added. may 15, and then soon after, the key, anticipated meeting with the german chancellor. the language is positive. but this will not go down we

even under present a let francois hollande, -- president- elect, francois hollande. he says germany's track record shows you cannot have sustainable growth without cutting. we have steven evans. what should we make of what the german finance minister has said? a bit more hope. >> i think his it is -- it almost sounds like this is the way it will be. let me read you the quotes from the interview. he is a very important man. he is the man who made some great deals in the eurozone. he is a finance minister and absolutely pivotal to the process. "the commitments on deficit reduction that every country in europe will be upheld, including france." "there is no sustainable growth without deficit reduction." he is at going chancellor merkel as saying the deal is being done and will not slip. we now understand that mr. hollande, president hollande, as you will be, will visit berlin party will immediately from his installation as president -- president hollande, as he will be, will visit berlin almost immediately from his installation as president. he will be greeted with open

hollande is sort of a center socialist in france. he's promising to cut the budget, but he also says the country needs growth. in other words, that the budget tax agreed between the previous president and germany might change perhaps. fewer budget cuts. this is important for america. why is that? because whenever there are big concerns about greece, portugal, spain, and their budgets, their mountains of debt, then it has a direct impact on the stock market in the united states. so people in the u.s., as well as other countries that are impacted by this debt crisis, are going to be listening very carefully in the next few weeks and months in order to address this crisis. that's number one. number two, why americans should care about francois hollande. this is a french president who promised to withdraw french soldiers from afghanistan by the end of this year. nicolas sarkozy, the incumbent, was promising to withdraw them by the end of next year. so this will have an impact on operations in afghanistan as well. so on both those fronts,

francois hollande is now the new president. he's a socialist. it's the first time in about a generation that this country has had a socialist president. men maerns are not familiar with francois hollande. he's never head a very high position. he's been an elected official from a small region in france. although he's been in politics his entire life as a member, and a leader of the socialist party. so how will things change? the big issue for france is how it will strike a deal with germany to solve this debt crisis in this region. so far, france and germany had agreed to cut spending. and countries such as greece or portugal or spain where the debt crisis was a really big and important issue. francois hollande says, look, not so fast. my approach is a little bit different. yes, i agree we need spending cuts, but i also believe there should be a growth plan included in any agreement with germany in the eurozone. why does that matter to americans? that's because every time there are real fears that there might be a collapse from one of the governm

hollande being inaugurateinaugu.ng for the you will say all ceremony to take place. >> and he's meeting with merkel later tonight. yesterday fresh closing lows for the uk and france. you can see we're up slightly today. we got a kick at the open on better than expected german gdp numbers. italian figures show negative growth of 0.8%. >> and take a look across fixed income bonds. the big story yesterday. and today still incredibly low yields. german bunds 10.7%. in france, we've seen as hollande prepares to take over 2.85%. still a significant difference there between what's going on in germany and france. italy and spain still much higher. italy at 5.9%, spain at 6.26%. >> just worth mentioning, we'll show sterling which is below 80 against the euro. britain's goods trades and deficits largely unchanged in march, but we had a rebound in exports of countries outside the eu. so exports and imports interesting enough at record levels. but first, facebook is reportedly going to hike the price range on its ipo due to enor

hollande held off nicolas sarkozy. we're no longer doomed to face austerity, hollande told his supporters. but many french tonight would argue that sarkozy beat himself. i bear responsibility, he said. i didn't succeed in making the values we share win. and this man and his partner both upwardly mobile voted for sarkozy in 2007, before the recession. but like so many others, they grew tired of his brash style, his rich friends, his celebrity wife carla bruney at his side. but most of all they rejected the measure of his austerity plan. >> i cannot believe he could win whenever over two-thirds of the country hate him so much. >> reporter: it was a tough decision. >> i think he's an honest guy, a good guy. but i'm not sure he will be able to run the country. >> reporter: hollande has promised to trigger growth and jobs by taxing the wealthy. but many french fear more taxes will be less growth and more debt. filled with prices and unemployment steadily on the rise, a majority of french say austerity hasn't worked. and hav

she congratulated hollande today. >> i can say that francois hollande will be welcomed by me with open open arms here in germany. we will conduct intensive discussions because cooperation is essential for europe. as we all want success for europe, this cooperation will begin very quickly. >> brown: to that end, hollande will visit berlin shortly after his may 15 swearing-in. he says he wants changes in a european union treaty that limits national debt to allow for economic stimulus measures, but merckel today maintained her determination to enforce belt tightening. >> we in germany and i personally believe the fiscal pact is not up for negotiation. >> brown: one of the principal targets of that fiscal pact is greece where voters yesterday sent an enraged message against austerity. repudiating the approach of the government of prime minister papandreou. >> the greek people made their choice. i believe it is of great importance to maintain the stable, the confidence and the solidarity to rectify the economy. >> brown: greece has received pail bailouts from the e.u. and the imf with doubl