Francois Hollande has defeated Nicolas Sarkozy to win the French presidential election, the BBC reports. After the French Interior Ministry released the results of the first fifty percent of the votes, it showed that Hollande was leading with 51 percent of the vote. Shortly after, Sarkozy conceded the election to Hollande. “François Hollande is the president of the republic, he must be respected,” Sarkozy said. “I want to wish him good luck in the midst of these tests.” It seems Sarkozy is using this opportunity to retire from politics, as he said he wouldn't lead the opposition in June legislative elections and said, “I become a citizen among you.” Hollande, who the Guardian says is the first left wing President in almost twenty years, has vowed to raise taxes and cut spending in France.