Word: bankrupting
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Bazargan would have a hard time trying to put down the separatists by force: Iran's army is hopelessly demoralized and all but leaderless. Meanwhile, the Prime Minister has enough on his hands trying to bolster the economy, which Khomeini last week described as "bankrupt." Workers' councils have taken over a number of businesses, banks, and government offices; councils in the bureaucracies are demanding exorbitant wage increases and resisting Bazargan's plans to reduce overstaffing. Food shortages have created a thriving black market that is feeding an unofficial inflation rate of 200%. Many of these problems would...
Though the ousted leader had a certain genius for accumulating cash, it seemed unlikely that he would succeed in reinstating himself on an island that has been impoverished by his greed and mismanagement. The economy is nearly bankrupt, 50% of the labor force is unemployed, and most of the islanders live at subsistence level. Last week Bishop's government was planning to establish farming cooperatives and to seek foreign aid in an attempt to repair the damage...
Unless prices level off, living standards for people in consuming nations will be damaged. Worst hit will be the developing countries. Their impoverished peoples could not pay for OPEC'S latest blast of increases; fresh jumps could bankrupt their governments...
Thomas M. Gallagher, director of Where Have our Jobs Gone and a spokesman for the Coalition to Save Jobs, sponsor of the bill, said the legislation, if enacted, would affect companies with more than 50 employees which plan to close down, move, or lay off large numbers of workers. Bankrupt companies would be exempt, he added...
Nevertheless, politicians and Western observers believe that the incendiary mixture of the country's internal crisis−rampant terrorism and a near bankrupt economy−does make Turkey potentially explosive. At the least, continued economic deterioration could sorely impair Turkey's effectiveness as a NATO ally. At worst, if inflation and unemployment are not checked, the radical extremes could erode the political middle, polarize the population, and set the stage for the familiar nightmare: civil war under banners of fanatical right and left...