French President French government and Socialist Party admit major defeat following the The President of France François Hollande appoints Manuel Valls, previously Minister of the Interior, as the new Prime Minister. He replaces Jean-Marc Ayrault. [http:--time.com-#44079-manuel-valls-named-as-new-french-prime-minister- ("Time")]French government and Socialist Party admit major defeat following the French municipal elections, 2014