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Argentine Jorge Bergoglio elected Pope Francis

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The crowd in St. Peter's square erupted into thunderous cheers as the new pope emerged on the balcony and greeted the world.

Jorge Bergoglio from Argentina is now the 266th leader of the Roman Catholic Church and will be called Pope Francis the first.

The Archbishop of Buenos Aires was elected on the fifth ballot today, ending the conclave on its second day. He was not seen as a frontrunner in this election, but he was a contender in 2005. He is the first pope from the Americas.

White smoke billowing from a Sistine Chapel chimney signaled to the world the new holy father had been chosen

Bells tolled outside the Vatican and across Rome.

Tens of thousands filled St. Peter's Square to witness history. Many say they will never forget the spectacle.

The cardinals hope their new leader will bring followers back to the Church, and help it move past the scandals.

The newly resigned pope Benedict was following the proceedings at the Vatican from his temporary residence south of Rome. He is not expected to comment about the new pope.

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