The brookings institute's web site has an article by Olivier Duhamel, Professor of Constitutional Law and Political Science at Sciences Po Paris, that discusses the French electoral system and provides this graph of the 5th republic presidents and prime ministers illustrating the cohabitation of red and blue:
The only convention Mitterrand put in place was to choose the legitimate leader of the other camp as PM, rather than imposing a less "natural" candidate of that camp to cause infighting. In the long run, we're all dead. John Maynard Keynes
BTW great update diary with a wonderful photo! Thanks Afew
Thanks, Alexandra. The photo is courtesy of the Nouvel Obs.