Montreal (Qc) CANADA - File Photo - Dec 5th 1996 -<br /> Jean Chretien (L), ICAO President (L) and<br /> Lucien Bouchard,  Leader Parti Quebecois (from Jan 29, 1996 to March 2, 2001). seen in a May 1996 file photo at ICAO (OACI) New headquarter opening in Montreal.<br /> <br /> After the Yes side lost the 1995 referendum, Parizeau resigned as Quebec premier. Bouchard resigned his seat in Parliament in 1996, and became the leader of the Parti Qu&Egrave;b&Egrave;cois and premier of Quebec.<br /> <br /> On the matter of sovereignty, while in office, he stated that no new referendum would be held, at least for the time being. A main concern of the Bouchard government, considered part of the necessary conditions gagnantes (&quot;winning conditions&quot; for the feasibility of a new referendum on sovereignty), was economic recovery through the achievement of &quot;zero deficit&quot;. Long-term Keynesian policies resulting from the &quot;Quebec model&quot;, developed by both PQ governments in the past and the previous Liberal government had left a substantial deficit in the provincial budget.<br /> <br /> Bouchard retired from politics in 2001, and was replaced as Quebec premier by Bernard Landry.
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