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French President Sarkozy admits defeat in presidential bid

Michel Euler / AP

Outgoing French President Nicolas Sarkozy leaves after addressing supporters at his Union for a Popular Movement (UMP) party headquarters after the the preliminary results of the second round of the presidential elections were announced in Paris, France, May 6.

Christophe Karaba / EPA

Supporters of 'Union pour un Mouvement Populaire' (UMP) party candidate Nicolas Sarkozy react after learning their candidate lost the Presidential election in Paris.

Sarkozy faced voters' anger over austerity Sunday in a presidential run-off expected to replace him with Socialist rival Francois Hollande, with far-reaching consequences for efforts to fight Europe's debt crisis.

The election outcome could also have an impact on how long French troops stay in Afghanistan and how France exercises its military and diplomatic muscle around the world.

-- Reported by the Associated Press

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