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Bérégovoy's working-class background contrasted sharply with that of the other Socialist Party leaders. As finance minister, he was widely respected by France's financial community. He replaced the unpopular Edith Cresson as prime minister in April 1992. He pledged to reduce unemployment and cut taxes to stimulate economic growth.
A condor, poised to attack enemies, protects the nation under its wings. Blue symbolizes independence from Spain. Yellow recalls the Federation of Greater Colombia. Red stands for courage. Effective date: 7 November 1900.
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