Word: carlie
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French President Francois Mitterrand, speaking at a financial forum Thursday, complained about a "world that constantly moves the carpet under your feet, pulling it out and threatening to trip you up." The market bust, he said, "is the disorder of a non-system. There is no system. It has been...
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...
But it is not at all certain that European governments can quickly generate a sharp rise in domestic consumption merely by pouring more money into their economies. A portion of industrial capacity must be redirected from manufacturing products for export to satisfying local demands, and that takes time. Warned Board...
ITALY. The Italian economy barreled along with a 4% growth rate last year. But that performance was partly the result of stimulative government spending that left a huge budget deficit amounting to 15% of gross national product. Carli warned that runaway spending was a serious threat to long-term growth...
Despite the nagging debt problem, Italy has made enormous strides. Last year's inflation rate was only 4.3%, in contrast to more than 20% in 1980. Carli and Brittan agreed that Italy's GNP is now close to that of Britain and is probably larger if the thriving Italian underground...