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SAINT PIERRE AND MIQUELON
(Territory of France)
FLAG DESCRIPTION: a yellow three-masted sailing ship facing the hoist side rides on a blue background with scattered, white, wavy lines under the ship; a continuous black-over-white wavy line divides the ship from the white wavy lines; on the hoist side, a vertical band is divided into three parts: the top part (called ikkurina) is red with a green diagonal cross extending to the corners overlaid by a white cross dividing the rectangle into four sections; the middle part has a white background with an ermine pattern; the third part has a red background with two stylized yellow lions outlined in black, one above the other; these three heraldic arms represent settlement by colonists from the Basque Country (top), Brittany, and Normandy *note: the flag of France used for official occasions
Capital | Saint-Pierre
Population | 6010 (July 2010 est.)
Area | 242 SQ KM
Official Language | French
Currency | euros (EUR)
Time Zone | UTC -3
Background | First settled by the French in the early 17th century, the islands represent the sole remaining vestige of France's once vast North American possessions.
Today | The inhabitants have traditionally earned their livelihood by fishing and by servicing fishing fleets operating off the coast of Newfoundland. The economy has been declining, however, because of disputes with Canada over fishing quotas and a steady decline in the number of ships stopping at Saint Pierre. In 1992, an arbitration panel awarded the islands an exclusive economic zone of 12,348 sq km to settle a longstanding territorial dispute with Canada, although it represents only 25% of what France had sought. France heavily subsidizes the islands to the great betterment of living standards. The government hopes an expansion of tourism will boost economic prospects. Fish farming, crab fishing, and agriculture are being developed to diversify the local economy. Recent test drilling for oil may pave the way for development of the energy sector.
