Photo by Bertrand Guay/AFP/Getty Images.
François Hollande was sworn in as the new French president on Tuesday, becoming the first Socialist to hold the office in nearly two decades.
In his first speech as president of the Fifth République, Hollande acknowledged the current economic challenges facing France but vowed to push back against a European austerity pact championed by his predecessor, Nicolas Sarkozy, and German Chancellor Angela Merkel.
"To overcome the crisis that is hitting it, Europe needs plans," Hollande said. "It needs solidarity. It needs growth. To our partners, I will propose a new pact that will tie the necessary reduction of public debt with the indispensable stimulus of the economy."