Word: banke
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Dates: during 1960-1969
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...Basel or London as a matter of routine and keep in constant touch by telephone, cable and personal visits. On a recent visit to Britain, William McChesney Martin Jr., chairman of the Federal Reserve Board, spent three hours tramping through the fields with Lord Cromer, the governor of the Bank of England, at his country home in Kent. "It makes a big difference," says Martin, "if you feel that you can call on a colleague in another country to get some advice...
...screen of great secrecy once separated the moneymen of each nation from those of others, but it has given way to growing cooperation. Each central bank now maintains a large foreign department to keep in touch with other banks. Last December the Paris Club set up a uniform system of confidential statistics about each country and made its findings available to all participating central banks. Today it is not uncommon for one government to give another government a few hours' notice of a change in the bank discount rate, a practice unheard of only a few years...
Overshadowed by the Boss. One of the most highly respected of the world's moneymen is Guido Carli, 51, the vigorous, brilliant governor of the Bank of Italy, whose tough austerity measures cooled the nation's inflation last year but won him no popularity contests...
...first quality of a central banker," says Carli, "is to be coldblooded. The bank governor must be a little independent of the currents and undercurrents of public opinion, to express problems in less emotional terms." Another moneyman widely admired among his colleagues is West Germany's Otmar Emminger, 54, who works as a director under Bundesbank President Karl Blessing. Emminger, who managed to attend five meetings last week, helped organize Working Party III, is a thoroughgoing internationalist who believes strongly in monetary cooperation be cause "we are all in the same boat...
...Netherlands has two especially outstanding monetary experts: Nether lands Bank President Marius Holtrop, 62, a first-rate banker of conservative leanings who is now president of the Bank for International Settlements, and Treasurer General Emile van Lennep, 50, who heads both Working Party III and the Common Market Monetary-Committee. Says Van Lennep, a jonkheer whose title of nobility dates from the early 19th century: "With Working Party III, a new dimension has been added to international monetary discussions. Now we discuss the problems of countries with surpluses as well as those with deficits...