Francois Hollande was inaugurated Tuesday as France's first Socialist President in 17 years, taking over power from Nicolas Sarkozy in a ceremony at the Elysee Palace. Constitutional Council President Jean-Louis Debre proclaimed Hollande, 57, France's 24th president, after private talks between Sarkozy and Hollande, during which Sarkozy handed Hollande the country's nuclear codes before leaving the palace by car, according to a report of DPA. Hollande was also made Grand Master of the Order of the Legion of Honour, an honour conferred only on Presidents. He is the first left-wing Head of State since Francois Mitterrand second term ended in 1995. Meanwhile, French President Francois Hollande said on Tuesday that he would urge his country's European partners to back a pact that coupled the goals of deficit reduction and economic stimulus. Hollande made the comment in a swearing-in speech ahead of a trip to Berlin where he will urge German Chancellor Angela Merkel to adjust a fiscal pact agreed by European leaders last March to include a pro-growth commitment. 'I will propose to my European partners a pact that ties the necessary reduction of deficit to the indispensable stimulation of the economy,' said Hollande, according to a report of Reuters.
