Hollande Defeats President Sarkozy in French Vote

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May 7 (Bloomberg) -- Francois Hollande defeated French President Nicolas Sarkozy to become the first Socialist in 17 years to control Europe’s second-biggest economy. Hollande inherits an economy that is barely growing, with jobless claims at their highest in 12 years and a rising debt load that makes France vulnerable to the financial crisis that has rocked the euro region the past two years. Susan Li reports on Bloomberg Television's "First Up." (Source: Bloomberg)