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Cardinal Jorge Mario Bergoglio Of Buenos Aires, has been elected to be the 266th pope of the Catholic Church, taking the name Pope Francis. Around an hour after the traditional 'white smoke' emerged from the Sistine Chapel chimney, Pope Francis - as he is to be known - appeared to rapturous applause from the masses gathered in St. Peter's Square. At the installation Mass, Francis is expected to receive the Fisherman's Ring made for his papacy (the one Benedict wore was given up when he retired on Feb. 28 and purposefully damaged by Vatican authorities per tradition) as well as the pallium, the woolen stole that's a symbol of his authority.