Nicolas Sarkozy has conceded defeat in France's presidential elections, saying he called challenger Francois Hollande to wish him "good luck" as the country's new leader.
Latest polls show French President Sarkozy is losing ground to right-wing anti-euro candidate Marine Le Pen in the first round of the France presidential election. Via Google translate, please consider Le Pen and Bayrou Back
French elections are done in two rounds. The top two candidates by popular vote square off in round two. Things do not look good for French president Nicolas Sarkozy, especially for round two. However, he may not make it that far.
As expected Francois Hollande and incumbent Nicolas Sarkozy will square off on May 6 in round two of the French presidential elections.
However, there was a huge surprise in spot number 3 as extreme right wing candidate Marine Le Pen pulled in 18% of the vote running on a dump-the-euro platform.
First Round Totals
Hollande: 28.6%
Sarkozy: 27.1%
Le Pen: 18%
Please consider Le Pen voters to arbitrate Hollande-Sarkozy duel
As goes the French economy, so goes the reelection chances of French president Nicolas Sarkozy. Although Sarkozy leads in round one, polls show that lead is shrinking at a pace that suggests he will not carry round one.
More importantly, Sarkozy is trailing again by double digits in polls for the decisive round two.
For those not familiar with elections in France, round one pits candidates from all the parties against each other on April 22. If no one gets 50%, the top two finishers square off in round two, on May 6.