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Sarkozy concedes defeat in French presidential election

Sarkozy concedes defeat in French presidential election

May 6th, 2012 in News

PARIS (AP) - 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.

Sarkozy thanked his supporters Sunday and said he did his best to win a second term, despite widespread anger at his handling of the economy.

He said "I take responsibility ... for the defeat."

Polling agency projections predict that Socialist Hollande will win the elections. Partial official results also show Hollande in the lead.