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Italy thus became the latest country to suffer from the epidemic of budget crises that is sweeping the nations of Western Europe. Last week Belgian Prime Minister Wilfried Martens' center-right coalition introduced an austerity budget containing what he called "drastic" cuts in public services and hikes in value-added taxes. Italy and Belgium are the Continent's biggest spenders: their budget deficits amount to 12.6% and 11.6%, respectively, of their gross national products...

Author: /time Magazine | Title: Europe: The Day of Reckoning | 8/16/1982 | See Source »

...begin. In the second half of the opening game between Belgium and Argentina two weeks ago, a Belgian forward, Erwin Vandenbergh, the former European scoring champ, got the World Cup off on a brand-new foot. A pass from Teammate Alex Czerniatynski landed at Vandenbergh's toe. He had slithered through the Argentine defense like a British SAS unit, and stood alone before the goal. The crowd of 95,000, including Spanish King Juan Carlos, quieted for a moment: tradition hung in the balance. Ever since the single opening game was instituted back in 1966-five World Cups...

Author: /time Magazine | Title: Sport: Le Mundial des Surprises! | 7/5/1982 | See Source »

Would history continue to repeat itself? Argentine Goalkeeper Ubaldo Fillol unwittingly decided the matter: he charged at the Belgian. Vanderbergh reflexively laced a shot through Fillol's fingers. Final score: 1-0. Modest Belgium-a 28-to-l long shot-had humiliated one of the game's most revered powers. Adios tradition...

Author: /time Magazine | Title: Sport: Le Mundial des Surprises! | 7/5/1982 | See Source »

Ever resourceful, All, until 1964 Cassius Clay of Louisville, Ky., responded to the shortage of good white opponents by inventing black white hopes. (Before their fight in Zaïre in 1974, he even tried to pass off George Foreman as a Belgian.) Yet he never sounded as mean spirited, as hateful and hurt, as Holmes does now. "If Cooney wasn't white, he'd be nothing," says Holmes. "I'm going to cut him, hurt him, open his lip, blacken his eye?for justice's sake. They talk about his great left hook. But what am I, a little child...

Author: /time Magazine | Title: A Puncher Goes for It: Gerry Cooney and Larry Holmes | 6/14/1982 | See Source »

...agriculture ministers were to take up the matter of increasing farm prices. Resorting to a time-tested tactic, Britain's Peter Walker began by claiming the right of veto under the Luxembourg compromise on the ground that farm prices directly affect the size of Britain's budget. Belgian Agriculture Minister Paul de Keersmaecker, who was in the chair, ruled that Walker's declaration of national interest was invalid on the ground that farm prices, not Britain's budget contribution, were at issue. De Keersmaecker was supported by France and Italy. French Farm Minister Edith Cresson said...

Author: /time Magazine | Title: Setbacks on a Second Front | 5/31/1982 | See Source »

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