French President Sarkozy admits defeat in presidential bid

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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