Word: bonnes
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...inflation has at least momentarily disappeared in West Germany (prices actually fell by 1% in 1986), many economists believe the $ Germans have plenty of latitude to try to boost their 2.75% growth rate. Herbert Giersch, director of the Institute of World Economics at the University of Kiel, suggested that Bonn should bring forward tax cuts now planned for January 1988. Such stimulus is needed, he said, because a rising mark could play havoc with West Germany's export industries. Giersch predicted that the country would be lucky to achieve a 2.5% growth rate...
...industrial materials and helped companies afford a 4.5% wage hike for employees. But similar wage demands this year could become a heavy burden if the mark stops rising. Giersch voiced fears that pay increases could cut profits, dampen investment and lift the inflation rate to 3%. He suggested that Bonn should strike a deal with the labor unions, in which the government would cut taxes by 5% in exchange for wage restraint...
...torn Lebanese capital, bringing the number of foreign captives to 24. The Reagan Administration responded last week by ordering U.S. citizens out of Lebanon and strengthening its naval presence in the Middle East. In London the Archbishop of Canterbury sent urgent messages to Beirut seeking news of Waite. In Bonn authorities feared that more West Germans would be seized in addition to the two kidnaped in retaliation for last month's arrest of a terrorist wanted for the 1985 hijacking of a TWA jetliner...
...international currency markets, the action was only a shade less hectic. For the first time ever, the U.S. dollar slid below the landmark price of 150 ( yen to the dollar in Tokyo before rebounding to 153.25 yen at week's end, marginally higher than a week earlier. In Bonn, the dollar hit a 6 1/2-year low of 1.81 deutsche marks before microscopically edging back to close at 1.815, a 1.8% decline from the previous week...
Europe: Christopher Redman London: Christopher Ogden, Steven Holmes Paris: Jordan Bonfante, B. J. Phillips, Adam Zagorin Bonn: William McWhirter, John Kohan Rome: Sam Allis, Erik Amfitheatrof, Cathy Booth Eastern Europe: Kenneth W. Banta Moscow: James O. Jackson Jerusalem: Roland Flamini Cairo: Dean Fischer, David S. Jackson Nairobi: James Wilde Johannesburg: Bruce W. Nelan New Delhi: Ross H. Munro Bangkok: Dean Brelis Peking: Richard Hornik Hong Kong: William Stewart, Bing W. Wong Tokyo: Barry Hillenbrand, Yukinori Ishikawa Melbourne: John Dunn Ottawa: Peter Stoler Caribbean: Bernard Diederich Mexico City: John Borrell, John Moody Managua: Laura Lopez Rio de Janeiro: Gavin Scott