French President Francois Hollande (Photo: Stephane Mahe/Reuters)

French President-elect Francois Hollande is to start work on forming a new government, after telling supporters his victory gave hope of an end to austerity. Hollande has vowed to rework a deal on government debt in eurozone member-countries to focus on promoting growth. The Socialist leader won just under 52 percent of votes in Sunday's run-off election. Center-right incumbent Nicolas Sarkozy is the first French president since 1981 not to win a second term. He will hand power to Hollande on May 15, following talks between the two camps, the presidency has said.

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