PARIS - A victorious Francois Hollande faces a short honeymoon after his election as France's first left-wing president in 17 years, with financial markets eager for clear signals on his policies and how hard he plans to push back against German-led austerity.
The moderate Socialist beat conservative Nicolas Sarkozy with 51.7 percent of Sunday's runoff vote after a bruising campaign dominated by the same anger over economic crisis that has felled 10 other European leaders since late 2009.
While jubilant left-wing voters partied into the early hours of Monday in central Paris, Hollande admitted that for him, the festivities would have to be short-lived.
"There is a lot of joy and pride but also apprehension at taking on this responsibility at a difficult time for the country and for Europe," he said.
After delivering a victory speech in his rural base of Tulle in central France, he flew to Paris and addressed tens of thousands of supporters in historic Bastille square.
The new president is expected to be sworn in on May 15.