Socialist Francois Hollande notched up 51.62 percent of the vote in yesterday’s French presidential run-off.
With all of the votes now counted, results show that outgoing conservative Nicolas Sarkozy scored 48.38 percent.
Hollande received a hero’s welcome as he arrived at party headquarters in Paris on Monday.
“While power has not been officially handed over, it will come in time,” Hollande told reporters.
“There is no date set yet. I must prepare. I said that I was ready, now I must be completely ready to take up my role.”
While Hollande’s supporters are enjoying the moment, it is now down to serious business for the new president.
Hollande is inheriting a French economy that is deep in debt. He wants more government spending, despite pressure on the country to trim its deficit.
Many are waiting for Hollande to fire off some clear signals on how hard he plans to reign in German-led austerity. He intends to travel to Berlin.
Hollande has promised new hope, now the French public will want to see him deliver on his pledges.