Word: brittanic
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Using laws rather than friendly persuasion to alter Europe's approach, says Sir Leon Brittan, trade commissioner at the E.U. in Brussels, "establishes the unwelcome principle that one country can dictate the foreign policy of others." U.S. allies believe that neither of the new laws is likely to inflict any significant pain on Cuba, Iran or Libya, much less improve their objectionable behavior. The Turkish gas deal is a case in point. "These laws have nothing to do with fighting terrorism," says French Foreign Minister Herve de Charette. Of course, the Europeans do have an economic interest in retaining links...
...compromise is reached before March 22, $45 million in annual purchases will be terminated. Kantor's motivation was in part due to his frustration with what he describes as the E.C.'s refusal to show "a desire to conclude a balanced trade agreement." Unamused, E.C. Trade Commissioner Leon Brittan vowed that Europeans "would not accept this form of unilateral bullying," and he scheduled a meeting with Kantor this week -- just what the U.S. trade rep wanted...
...Germany's actions, especially if a "Eurofed" came to replace the German Bundesbank as the main arbiter of Europe's monetary policy. "The only answer for avoiding these sorts of crises is to move on to a European central bank as fast as possible," said E.C. commissioner Sir Leon Brittan...
...year ago, the London Stock Exchange celebrated Big Bang, the introduction of computerized and deregulated stock trading. The anniversary last week was a Big Bath. Chancellor of the Exchequer Nigel Lawson complained that he did not know why London "should be following Wall Street quite so slavishly." Samuel Brittan, widely respected economic 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...
Europe's pacesetter is Britain, which is growing at a 4% pace. British businessmen are enjoying a new rush of confidence now that Conservative Prime Minister Margaret Thatcher has won a third term. But Samuel Brittan, an economics columnist for London's Financial Times, noted that Britain faced a real challenge in trying to remain an "island of rapid growth without an improvement in its main trading partners." The same task confronts Italy, which is expected to expand at a 3% rate this year. Said Guido Carli, former Governor of the Bank of Italy: "I doubt that Italy can sustain...