'Establishment guy' becomes Mexico's president

[NewsCaster]

Presidency of Mexico via ReutersMexico's outgoing President Felipe Calderon, left, hands the national flag to Mexico's new President Enrique Pena Nieto during a midnight handover ceremony at the Palacio Nacional in Mexico City on Saturday. By Dave Graham, ReutersMEXICO CITY -- Enrique Pena Nieto took over as Mexican president on  Saturday, offering a shot at redemption for the party that shaped modern Mexico  if he can bring about an end to years of violence and economic underperformance.

Follow @NBCNewsWorld Returning the centrist Institutional Revolutionary Party, or PRI, to  power after a 12-year hiatus, the 46-year-old Pena Nieto aims to use a recent  improvement in the economy's fortunes to spark faster growth.

Shortly  after midnight at the national palace, outgoing President Felipe Calderon  formally transferred power to his successor, handing over a red, white and green  national flag to Pena Nieto and saluting him.

"Today I begin to exercise  the honorable office of president," said Pena Nieto, who then swore in his top  security ministers.




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