French President François Hollande won’t seek reelection

France’s deeply unpopular Socialist president, François Hollande, will not seek reelection next year. He made the announcement this afternoon on a French television network. The Socialist Party’s No. 2, Manuel Valls, had already announced plans to challenge Hollande for his leadership position. Even if Hollande had survived his party’s primary in January, it’s unlikely he would have retained the presidency. France’s conservatives are expected to make a strong showing in the spring election, with former Prime Minister Francois Fillon seen as the country’s most likely next leader. Hollande’s popularity plummeted soon after he took office and his economic policies have done little to improve the country’s outlook. Unemployment remains at 10 percent, and French voters are divided over how to respond to Europe’s migrant crisis and a string of devastating terror attacks.

The Associated Press contributed to this report.