Word: barcelona
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...stark warning by Commerce Minister Alberto Ullastres that something drastic must be done to save the Spanish economy (TIME, June 15), 50 small and medium-sized factories in hard-hit Barcelona announced a "suspension of payments," a legal state just this side of actual bankruptcy that defers debt payments and allows a company to lay off help (otherwise forbidden by law). In a land where newspapers print no unpleasant news, word spread that the big (3,000 employees) Euskalduna shipyard and the Basconia steel mill in Bilbao were also about to lay off their work forces, and so was Madrid...
...Spain during the past eight years might have gone far toward putting the country on its feet. But bureaucrats went on an ill-conceived spending spree, some of whose principal results are a steel mill whose products cost half again as much as German imports, an auto plant in Barcelona that builds ersatz Fiats for more than twice the cost of the real thing, thousands of luxury apartments still unrented, a $300 million annual trade deficit, an inflation that nearly doubled the amount of currency in circulation in five years (from 37 billion to 70 billion pesetas) and brought...
Bitter Medicine. The time for drastic remedies had come. Last week Commerce Minister Alberto Ullastres, in a midnight four-hour speech to late-hour Barcelona businessmen, outlined a stern stabilization plan, obviously approved by Franco, that was almost exactly what foreign economists have been trying to force upon Spain for the past ten years. Its proposals...
...would flood the country with industrial products cheaper and better than Spain's own : devaluation and convertibility would be hard on corrupt officials, smugglers and black-marketeers: a heavy cutback in government spending may within a month put a quarter of a million workers on the streets of Barcelona alone. Aware of the dangers-which could be political as well as economic-Ullastres told his Barcelona audience: "This is probably the worst moment through which we will pass . . . There will be a few disturbances, layoffs, reduction of production . . . increases in prices...
Torroja pioneered new techniques to build Europe's second longest concrete arch (a 690-ft. span) to bridge the Esla River at Zamora, Spain. His gull-wing roof over Las Corts soccer stadium in Barcelona is one of the world's most breathtaking architectural sights. Even in the small churches and shrines that Torroja has built for Pyrenees villages, he has exploited shell structure to produce new forms whose strength comes from shape and whose beauty springs from mathematical curves possible only in modern reinforced concrete. Torroja is fond of walking his institute visitors under the sickle-shaped...