Word: blocs
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Dates: during 1960-1969
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...Russian banks in the West all rack up tidy annual profits, and they may soon do even better. The Communist bloc, which once operated under a primitive barter system with the West in which each nation accumulated Western currencies on its own, now has a joint International Bank for Economic Cooperation. The bank operates as a kind of Communist central bank, switches currencies among member countries in order to improve trade. The bank's delegates will soon arrive in Zurich to confer with the Wozchod bank with a view to stimulating such trade even more...
...Respectability is the problem," according to one Massachusetts political observer who claims that the suburban Irish-Italian vote is the pivotal one in state-wide elections. He claims that this bloc, especially the Irish part of it, was anxious to repudiate past performances by Democrats. The bloc therefore passed over any Democrat who had a connection with old-fashioned politics and voted for the Republican. He cited the re-election of of Secretary of State Kevin H. White, Treasurer Robert Q. Crane, and Auditor Thaddeus Buczko, all Democrats and all men who have no connection with the Democratic party...
...tour first paused in Paris for lunch with French Foreign Minister Maurice Couve de Murville, who had visited the Eastern-bloc nations earlier this year, and a briefing session with U.S. Ambassador to France Charles ("Chip") Bohlen, U.S. Ambassador to Germany George McGhee, and the Permanent U.S. Representative to NATO, Ambassador Harlan Cleveland. The group then boarded the TIME-chartered Pan Am 727 for the flight to Vienna and the bus ride to Budapest, the only overland part of the trip...
Planned Antagonisms. No East European economy had suffered so painfully under the stagnation of Stalinism as Czechoslovakia's. As the "machine shop" of the East bloc, Czechoslovakia had been forced by Moscow to concentrate its energies-without significant
Soon even Moscow - in the voice of Evsei Liberman - was talking of "in centives" and the "profit motive," a green light to the East bloc that soon set Hungary, Bulgaria and even the Stalinist states of East Germany and Czechoslovakia to thinking about reform. Out of earshot of the West, economists began discussing things that the West would understand: bonuses and reinvestment, free prices and the need for incentives, even the accumulation of wealth-once a heretical thought under "egalitarian" Communism. Quite independently of one another, the prophets of profit began coming to the same conclusion: rigid Stalinist-style central...