French socialist Francois Hollande has won a clear victory in the country's presidential election.
Hollande - who polled just under 52% of votes in yesterdays run-off - spoke of his pride at becoming president.
Admitting defeat, centre-right incumbent Nicolas Sarkozy wished "good luck" to Hollande.
Analysts say the vote has wide implications for the whole eurozone.
Hollande has vowed to rework a deal on government debt in member countries.
Shortly after polls closed French media published projections based on partial results giving Hollande a lead of almost four points.
Turnout was about 80%.
This is only the second time that an incumbent French president has failed to win re-election since the start of the Fifth Republic in 1958.
Hollande is expected to be inaugurated later this month and a parliamentary election is due in June.