Europe, Nicolas Sarkozy | featured news

French ex-president Nicolas Sarkozy has been placed under formal investigation over claims his 2007 election campaign received illegal donations from France's richest woman. Mr Sarkozy is accused of accepting thousands of euros from L'Oreal heiress Liliane Bettencourt, now aged 90.

French investigators searched former President Nicolas Sarkozy's home and office on Tuesday as part of a probe into suspected illegal financing of his 2007 presidential campaign by the L'Oreal cosmetics heiress, an official said. Potential legal troubles have threatened Sarkozy since he lost the presidency to Socialist Francois Hollande in May elections. Sarkozy, who lost his immunity from prosecution June 15, denies wrongdoing.

Francois Hollande, the Socialist "Mr Normal" who will be sworn in as French president next week, says he is worth almost 1.2 million euros ($1.5 million), considerably less than his predecessor Nicolas Sarkozy.

Socialist Francois Hollande swept to victory in France's presidential election on Sunday in a swing to the left at the heart of Europe that could start a pushback against German-led austerity.

The battle between Socialist Party leader Francois Hollande and President Nicolas Sarkozy could well go down to the wire.

The two contenders for the French presidency entered the final day of campaigning Friday, with opinion polls giving challenger Francois Hollande the edge over President Nicolas Sarkozy.

French President Nicolas Sarkozy was narrowly beaten into second place in presidential elections Sunday, as the National Front candidate Marine Le Pen posted the best result ever for a far-right candidate, the Interior Ministry announced with all the votes counted Monday.

Far-rightist Marine Le Pen threw France's presidential race wide open on Sunday by scoring nearly 20 percent in the first round - votes that may determine the runoff between Socialist favorite Francois Hollande and conservative President Nicolas Sarkozy.

Like Barack Obama, Nicolas Sarkozy swept to power on a wave of hope for change. Sarkozy's wave crashed on the global financial crisis and his own failings.

France's presidential election race resumes on Friday, irrevocably altered by the killing of an al Qaeda-inspired gunman whose murders have shifted the political debate in favor of incumbent Nicolas Sarkozy.