Word: brinkmanship
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...raid by Russia on its leading tax defaulter, Gazprom, was calculated to impress the IMF, says TIME correspondent Andrew Meier. But even if it accomplishes that, the international body is unlikely to cut the big check Russia so desperately needs. "The IMF seems bent on playing high-stakes brinkmanship," says Meier, "extorting vows to slash the budget and strip the fat before it will agree to bail Russia out." But Russia's condition is deteriorating rapidly...
...this one relatively unscathed. Early Thursday morning, with only hours left before the press conference at which Attorney General Janet Reno and her antitrust chief Joel Klein were to announce one of the largest and most important antitrust cases in American history, Gates demonstrated the cold-blooded brinkmanship for which he is famous: with no time left on the clock, he suddenly made nice. O.K., he told Klein: Let's talk...
STORMONT, Northern Ireland: Brinkmanship is the name of the game for the pro-British Ulster Unionists as the clock counts down to a deadline for all-party agreement on Northern Ireland, says TIME London bureau chief Barry Hillenbrand. Unionist leader David Trimble today dismissed as unacceptable compromise proposals by U.S. mediator Senator George Mitchell. ?The Unionists are hanging tough to try and secure more concessions,? says Hillenbrand. ?They prefer the status quo in Northern Ireland and want to minimize the changes that result from the peace process...
...that he wants aid on his terms and not theirs, Suharto has effectively bet Indonesia's entire economy, a wager so outlandish that foreign bankers in Jakarta have trouble concealing their admiration for his audacity even as they despair of his cavalier approach to balance-sheet realities. His brinkmanship has scared the IMF, which sees its worldwide credibility put at risk, and terrified other Asian countries, which fear that Suharto could suck their economies down with...
House Republican leaders have opted for brinkmanship over IMF and U.N. funding, announcing on Wednesday they would tie an extraneous abortion clause, previously nixed by the White House, to the legislation. "The GOP thinks the President wants the IMF funding badly enough that he might buckle this time," says TIME correspondent John Dickerson. But if the White House hangs tough and the $18 billion credit to the IMF is killed, the consequences could be disastrous: "Failing to fund the IMF could further destabilize Asia," says TIME correspondent Bruce Van Voorst. "And that would have extremely serious consequences for the American...