French President Nicolas Sarkozy has conceded the presidential election to Socialist challenger Francois Hollande.
Hollande is set to become the nation's first left-wing president since Francois Mitterrand left office in 1995.
With the loss, Sarkozy will become the latest -- and most significant -- of at least half a dozen European leaders swept from office during the eurozone economic crisis, including the Greek and Italian prime ministers.
Concerns over the economy, unemployment and immigration have been at the forefront of the French election. France is a key player in plans to lead the eurozone out of its debt crisis, making the election vital to the region.
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