Word: carlie
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Administrative Ploy. Devaluation was prevented by Guido Carli, governor of the Bank of Italy, who made three shrewd moves. First, he raised the interest rates on Italian bonds to make them as attractive to lire investors as foreign issues had been. Next, through a neat administrative ploy, Carli made currency...
Carli's third move was stunningly simple. He bolstered his country's balance of payments by replacing Italy's depleted store of monetary reserves with dollars borrowed by state-run and private corporations from private banks in Europe-a step that no one had thought of taking...
The plan has the particularly unattractive name of "crawling peg," but it has a notably attractive list of advocates. It was popularized largely by Princeton Economist Fritz Machlup, and lately has been advocated, in one form or another, by German Economics Minister Karl Schiller, French Finance Minister Valery Giscard d...
Papal Advance Man. An unofficial advisory panel of bankers and financiers counsels the Vatican. Among them is Guido Carli, president of the Bank of Italy. By his own admission, Marcinkus needs all the help he can get. A genial and highly popular prelate who studied at Rome's Gregorian...
Two Tiers. The bill to remove the gold cover seemed to come almost too late to be of use-if only because the Gold Pool itself is likely to be revamped as one result of last week's emergency. The Europeans arriving in Washington-Britain's O'...