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In January 1992, when Charles Haughey was forced to resign, he was elected president of Fianna Fáil by a majority of 66 votes to 16, and prime minister. But his government was defeated on a vote of confidence in November 1992. After a general election he formed a Fianna FáilLabour coalition. In October 1993 he announced a six-year development plan for the transformation of Ireland. Seeing closer relations with the UK as a key to resolving the Northern Ireland problems, he participated in the December 1993 Downing Street Declaration, but in 1994, after a deep disagreement with its leader Dick Spring, Reynolds lost the support of the Labour Party. The coalition collapsed and in November 1994 he resigned the premiership and gave up the leadership of Fianna Fáil.
He saw the advantages of European Community membership, and after a referendum in 1992 ratified the Maastricht Treaty for closer union.
Red stands for bloodshed. Orange symbolizes agriculture. Blue represents the sky and hope. Effective date: 24 August 1990.
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