Word: accordant
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...grim backdrop of worrisome economic developments around the world led the U.S. to soften its initially tough stand and agree to speed up the timetable for reaching an accord on the amount each member should contribute. Also the U.S. launched a drive to set up a new "crisis fund" to be tapped in times of real emergency. Most key members seemed responsive to the proposal, which is, for now at least, still largely in the talking stage...
Association with Jordan. Reagan proposed "ties between the West Bank, Gaza and Jordan" as a method for achieving a durable settlement. Israel says that Camp David makes no reference to this approach. Indeed, the accord leaves open to negotiation the final status of the territories, but the document explicitly states that "Jordan will be invited to join the negotiations on the basis of this framework...
Thomas had good reason for elation. After six months of negotiation, the U.S. and Swiss governments last week jointly announced an agreement that will make it harder for criminals to hide behind Switzerland's strict banking-secrecy laws. The accord marks the first time that Swiss authorities have agreed to cooperate in tracking down those who break U.S. laws against trading securities with insider information. Said Thomas: "Insider trading has been proliferating at an alarming rate. But the agreement we have made with the Swiss should prove to be a significant deterrent...
Last week's agreement outlines a complicated procedure by which the SEC in cases of insider trading is allowed to make a formal request for information to Swiss authorities through the U.S. Justice Department. Under the new accord, Swiss banks will now ask customers who wish to trade in American stocks to sign a waiver that would allow the banks to reveal their names if they are suspected of insider trading. Without that waiver, Swiss financiers, under the country's bank-secrecy law, would face up to six months' imprisonment or a fine...
...General Counsel Edward Greene said that the new accord will make it easier to solve the cases quietly. Said he: "The alternative, if we suspect insider trading, is to sue the banks, which is public, freeze their funds, which is public, and subject them to embarrassment. The agreement provides a procedure whereby we can conduct an investigation privately and keep the funds frozen until we can work out disclosure of the information. The banks would rather work things out in private. So would we. And that's the beauty of this decision...