New Pope Argentine Cardinal Jorge Bergoglio Selected at Papal Conclave, Chosen Name Pope Francis: Watch New Pope's First Address [LIVE STREAM]

According to the Associated Press, Argentinean Cardinal Jorge Bergoglio has been chosen by the cardinal-electors to serve as the new pope. He has chosen the papal name of Pope Francis.

The conclave recently signaled that they had chosen a new pope via white smoke rising from the Sistine Chapel chimney. The smoke was met with bells and shouts of joy from the rain-soaked faithful crowding the square. The cardinals made the decision rather quickly. The voting for a leader to replace Pope Emeritus Benedict XVI only began Tuesday.

Begoglio, or (as he will henceforth be known) Pope Francis, is set to address the crowd at St. Peter's Basilica any minute now.  Pope Francis wasn't on anyone's radar. He wasn't even considered one of the top three contenders to replace Benedict, who stepped down on Feb 28. Those would be Italian Cardinal Angelo Scola, Ghanan Cardinal Peter Turkson and Italian cardinal Tarcisio Bertone.Benedict was the first pope to abdicate in almost 600 years. 

Pope Francis, who is Argentinean, is the first Pope to originate in the Americas.

He is tasked with helming a struggling Church that has found itself mired in sexual abuse scandals and calls to modernize in recent years.

Pope Francis is due to address the crowd from the Basilica balcony any minute. Watch a live stream of the address here.