Beregovoy, Pierre Eugene

▪ 1994

      French politician (b. Dec. 23, 1925, Déville-les-Rouen, France—d. May 1, 1993, near Nevers, France), was a leader in the moderate wing of the French Socialist Party (PS), a close associate of Pres. François Mitterrand, and the author of rigorous monetary policies in his role as minister of finance (1984-86, 1988-92). During his short term as prime minister (1992-93), he was unable to stop an alarming rise in unemployment, avoid involvement in a financial scandal, or prevent the PS's defeat by a centre-right coalition in the March 1993 general election. Bérégovoy was born into a working-class family and had little formal education. He trained as a lathe operator and worked for the government-run railway during World War II. From 1950 he pursued a career with Gaz de France, the national gas company, rising to director in 1978. After serving as campaign manager in Mitterrand's successful 1981 presidential bid, Bérégovoy became chief of staff (1981-82), minister of social affairs (1982-84), and finance minister. In April 1992 he was appointed to succeed the controversial Edith Cresson as prime minister. He was a popular choice initially, but within months it was disclosed that he had accepted an interest-free loan in 1986 from businessman Roger-Patrice Pelat, who was later accused of insider trading. Although Bérégovoy denied any wrongdoing, the disclosure added to the voters' growing disillusionment with the scandal-ridden PS. Bérégovoy, apparently despondent over the party's election defeat and the lack of personal support from Mitterrand during his own troubles, committed suicide.

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