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Supporters of Mr. Hollande celebrate with champagne after results of the second round of the French presidential election were announced Sunday. The party outside Socialist Party headquarters in Paris. "Austerity can no longer be inevitable," Mr. Hollande declared in his victory speech Sunday night, referring to Mr. Sarkozy's push for belt-tightening to fight persistent unemployment and rising national debt.

Supporters of Mr. Hollande celebrate with champagne after results of the second round of the French presidential election were announced Sunday. The party outside Socialist Party headquarters in Paris. "Austerity can no longer be inevitable," Mr. Hollande declared in his victory speech Sunday night, referring to Mr. Sarkozy's push for belt-tightening to fight persistent unemployment and rising national debt.

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