Word: bonneli
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Correspondent John Moody, who has spent his reportorial career catching flights from bureaus in New York, Moscow and Paris for United Press International and from Bonn and Vienna for TIME, touched down in Mexico City a year ago. Since then he has spent most of his time shuttling around Central America's capitals. Moody reported much of this week's main story, wrote the one-page description of life in war-weary El Salvador and conducted interviews with Costa Rican President Oscar Arias Sanchez, author of the peace plan and winner last month of the Nobel Peace Prize, and with...
...symbolic victory in its efforts to persuade West Germany to spur its economy. The standoff between Baker and his West German counterpart, Finance Minister Gerhard Stoltenberg, eased slightly, aided by an announcement from the German central bank that it would cut two of its less important interest rates. If Bonn were to follow up * on that step and reduce its prime interest rates, there would be less pressure on the dollar. Reason: the greenback has been declining because U.S. interest rates have lately been falling in comparison with those of West Germany and other countries. Moreover, lower interest rates could...
...meaningful slash in the American budget deficit. The fear of inflation is particularly strong in West Germany, which was still raising interest rates shortly before Black Monday, to the intense displeasure of the U.S. German Finance Minister Gerhard Stoltenberg last week hinted at what would be required to get Bonn to change course. Said he: "What we need most are political decisions in the U.S., strong efforts and agreements to make substantial cuts in the budget deficit." Other officials add that the Germans will insist on hard evidence that this is being done before taking any action to accommodate...
Europe: Christopher Redman London: Christopher Ogden, Roland Flamini Paris: Jordan Bonfante, Adam Zagorin Bonn: William McWhirter, John Kohan Rome: Sam Allis, Cathy Booth Eastern Europe: Kenneth W. Banta Moscow: James O. Jackson, Ann Blackman Jerusalem: Johanna McGeary Cairo: Dean Fischer, David S. Jackson Nairobi: James Wilde Johannesburg: Bruce W. Nelan New Delhi: Ross H. Munro Bangkok: Dean Brelis Beijing: Sandra Burton Hong Kong: William Stewart, Jay Branegan, Bing W. Wong Tokyo: Barry Hillenbrand, Yukinori Ishikawa Ottawa: Peter Stoler Mexico City: John Borrell, John Moody Rio de Janeiro: Laura Lopez
...commentator for the Financial Times, ventured a prediction that the stock slump would clip half a point off Britain's 3.0% projected growth rate next year. Prime Minister Margaret Thatcher called for a healthy dose of budgetary realism in Washington, and Chancellor Lawson reminded tight-fisted central bankers in Bonn that it was a credit crunch that turned the 1929 Crash into the painful 1930s Depression. Said he, referring to West Germany's reluctance to stoke its economy: "It would certainly be helpful if the German monetary authorities were to show more awareness of this...