Pinera elected Chilean president

Pinera elected Chilean president. Frei defeat ended more than two decades of rule by the center-left coalition.Pinera earned 52 percent of the votes to 48 percent for Frei with 99 percent of the ballots counted in Sunday's runoff election. Billionaire Sebastian Pinera has won Chile's election, becoming the nation's first democratically elected right-wing President in 52 years. Pinera vowed to hire the "best, most prepared, most honest and most dedicated" people for his government, and called on a new generation of Chileans to meet his challenge. "Chile isn't the biggest, richest or most powerful country in the world, but we should dedicate ourselves to transforming it into the best country in the world," he said. "We don't have a single minute to lose." The ruling coalition's candidate Eduardo Frei conceded defeat on Sunday after 60 percent of polling stations reported a 52 percent to 48 percent advantage for Pinera, ending two decades of centre-left rule since the end of Augusto Pinochet's dictatorship."We will be guardians of liberty and of all our social victories," Frei said. Pinera had a wide lead in every poll, and the race only tightened after Frei and outgoing President Michelle Bachelet repeatedly invoked the legacy of Pinochet, whose dictatorship was supported by parties that make up Pinera's coalition.