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Balladur was the protégé of the former president Georges Pompidou during the 1960s and 1970s, and economy and finance minister under Jacques Chirac's prime ministership 198688. In 1993, he was President Mitterrand's second choice as prime minister, Chirac having declined the post. Balladur promised to create a successful economy and reduce the budget deficit, but faced strong opposition to his immigration and privatization policies, his proposals for government funding of private schools, and his employment legislation, reducing the minimum wage paid to young workers. A no-confidence motion in the National Assembly 1994 failed to unseat him and, with the economy improving, he appeared strongly placed for an eventual challenge for the presidency. However, allegations of corruption and illegal phone-tapping led to a dramatic fall in his popularity, and he was eliminated in the first round of the 1995 presidential elections. He later failed in his bid to become mayor of Paris in 2001 and president of the National Assembly in 2002.
Blue recalls the clear sky, the Atlantic Ocean, water, and rain. Red represents Namibia's people reflecting their heroism and desire for equal opportunity. White stands for peace and unity. Green symbolizes vegetation and agriculture. Effective date: 21 March 1990.
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