Francois Hollande tonight became the first French president in recent history to say he will not seek a second term of office. In a colossal admission of failure, the embattled 62-year-old Socialist went on live television to say: 'I've decided not to be a candidate to renew my mandate.'

Mr Hollande, who is by far the most unpopular head of state since the Second World War, said he had 'only just come to the decision'.

It follows more than four years of economic failure, including strikes and violent demonstrations.

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Francois Hollande will not stand for a second term, he announced today, admitting he was unsure if he could rally enough support

Francois Hollande announced today that he would not be seeking re-election, stating: 'In the months to come, my only duty will be to continue to lead my country'

Mr Hollande also faced ridicule in office when he effectively 'sacked' his first lady girlfriend, Valerie Trierweiler, and replaced her witha secret lover - TV actress, Julie Gayet.

The rotund president had been using a moped and two security guards to enjoy trysts with Ms Gayet at a flat close to the Elysee Palace.

A new poll on Wednesday predicted Mr Hollande would win just seven percent of votes if he stood in the first round of next May's presidential election.

A new poll on Wednesday predicted Hollande would win just seven percent of votes in the first round of next year's election in April

This means he is viewed a lame duck by his own party, prompting leadership challenges from a number of colleagues.

Last Sunday Francois Fillon, the former prime minister, emerged as the Republican Party candidate who will fight for the presidency.

He is already being described as a 'French Margaret Thatcher' who will aim to replace socialism with tax cuts and longer working hours.

His announcement came just a few days after prime minister Manuel Valls (left, pictured with Hollande), said he is 'ready' to compete in the left-wing Socialist primary in January

The surprise move throws the selection of a Socialist candidate wide open

'I HAVE ONLY ONE REGRET': HOW HOLLANDE ANNOUNCED HE WOULD NOT STAND FOR A SECOND TERM AS PRESIDENT Hollande wrote: 'In the coming months my only duty will be to continue leading the state, the mandate for which you elected me in 2012' The French President posted a series of tweets after announcing he would not stand for a second term in office. Hollande wrote: 'Public accounts have been cleaned up. I wanted our social model to be reinforced and expanded. 'I have promoted freedoms, the equality between couples has been strengthened. I modernized our democracy with territorial reform. 'The commitment I made was to bring down unemployment. I made sure to help the people seeking jobs. The results are coming. 'I have engaged our armies in the world to protect us, to fight terrorism. 'In this context I wanted to maintain national cohesion. 'I have only one regret and it is to have proposed the forfeiture of nationality. I thought it could unite us, but it divided us. 'I take stock and take responsibility for it. In five months you will have to make a choice for our country. 'The greatest danger is protectionism, isolation, which would be a disaster for French workers 'As President of the Republic, I have to direct the State. As a socialist, I cannot agree with the dispersion of the left. 'I am inspired only by the best interests of the country. Experience has brought me the necessary humility in my task. 'I have decided not to be a candidate for the renewal of my mandate 'In the coming months my only duty will be to continue leading the state, the mandate for which you elected me in 2012.' Advertisement

Mr Fillon also wants to sack up to 500,000 civil servants, and smash the trade unions who have been behind so much industrial action under Mr Hollande.

During this victory speech, Mr Fillon described Mr Hollande's presidency as 'pathetic' - a word that was echoed in an editorial in Le Monde.

It said that the Socialists risked tearing themselves apart and 'the person who is most responsible is Francois Hollande, who has not given a meaning to his time in office, occupied the job with authority or imposed himself as the legitimate candidate for his party.'

After becoming president, Hollande went through a very public split with partner Valerie Trierweiler (pictured with him in 2012)

He had been using a moped and two security guards to enjoy trysts with lover Julie Gayet at a flat close to the Elysee Palace

Mr Hollande came to office in 2012 promising to be a 'Mr Normal' after five years of rule by the flamboyant Nicolas Sarkozy, who married supermodel Carla Bruni in office, and was seen as a friend of the super rich.

But Mr Hollande's presidency was anything but normal. Beyond the economic problems, there were three major Islamist terror attacks.

Marine Le Pen's National Front is also now challenging for power, showing just how much the Right has flourished under Mr Hollande's weak leadership.

Mr Hollande's withdrawal from the 2017 contest leaves the field open for the divided Socialists, who begin accepting candidates for president on Thursday for a party primary race due on January 22nd and 29th.

Arnaud Montebourg, a leftist former economy minister, has already submitted his name while ambitious Prime Minister Manuel Valls would also be expected to run.

Experts predict a run-off between centre-right candidate Francois Fillon (above) and far-right leader Marine Le Pen in next year's presidential election

French prime minister Manuel Valls has branded Hollande's decision 'the choice of a statesman'

'IN DOING THIS I'M FACING MY RESPONSIBILITIES': FRANCOIS HOLLANDE'S ADDRESS TO THE NATION Francois Hollande said investment, consumption and construction were picking up, while unemployment is falling 'at last' Some key quotes from Hollande's televised address: 'Since May 2012, when I became president, I have sought with Jean-Marc Ayrault and Manuel Valls as prime ministers to put France back on its feet and make it fairer. As I speak, government finances have been shored up, our welfare system is back in the black, and the country's debt has been protected.' 'I have also sought to place France on the frontline in the fight against climate change, and it's here in Paris that the historic agreement that bound the whole world was signed.' 'But the major commitment I made to you was to bring down unemployment. With the government, I have thrown all my energy into it, I have taken all the risks, I have cut companies' taxes because it was the condition to create jobs.' 'The results are coming. Later than I'd said, I accept, but they are there. Investment, consumption, construction is picking up again. And since the beginning of the year, unemployment is falling at last.' 'Power, the exercise of power, the corridors of power, the rituals of power, have never made me lose perspective, either over myself or the situation, because I have to act. I am aware today of the risk that going down a route that would not gather sufficient support would entail, so I have decided not to be a candidate in the presidential election.' 'In doing this I'm facing my responsibilities, but also calling for a collective response which involves all progressives who need to unite in these circumstances because what's at stake is not one man but the country's future. I do not want France to be exposed to risks which would cost it dear, and even threaten its unity, its cohesion, its social balance.' 'As a Socialist, because that's my life's commitment, I cannot accept, I cannot resign myself, to a scattering of the left, to it breaking up, because that would take away all hope of winning against conservatism, and even worse, against extremism.' Advertisement

Leader of the far-right National Front, Marine Le Pen, is predicted to be involved in a head-to-head race for the presidency with Francois Fillon