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...ranging from Mexico to Poland. And though unemployment is currently at 10.5% of the labor force in Western Europe as a whole, and rising, the specter of inflation is receding. By next December, according to Board Member Hans Mast, a University of Zurich lecturer and executive vice president for Crédit Suisse, inflation should have been driven down from a current level of 8.5% to an annual rate of no more than about 7.5%, the lowest in more than a decade...
...Crusade Against Crèches City hall's Christmas symbolism is on the defensive...
Thirty farming villages between Bordeaux and Toulouse have terminals that dispense data about social security rights, building permit procedures and agricultural laws. Bank managers at Crédit Agricole, a financial institution specializing in agricultural loans, can use 24 terminals in Brittany to look at the names, addresses and accounts of all their clients. In Grenoble and Nantes, users can tap two municipal terminals to summon information about military service, student fellowships and job openings. In Paris, 120 hotels offer their guests 4,500 pages of electronic information, ranging from gastronomic advice to the latest stock market quotes. Next year...
...movie about not wanting to be involved in the business of moviemaking. Eventually, though, the artist must return home chaste and chastened. The climax of this two-hour 20-minute odyssey is a series of ecstatic helicopter shots over Lower Manhattan. It is a refreshing vision-like a crème de menthe sipped at twilight in the Windows on the World, 107 stories above the only dream isle our moviemaking Prospero could live in for long or forever...
Some board members regarded the prolongation of the recession as the painful price of wringing inflation out of the system. Others, like Hans Mast, a University of Zurich lecturer and executive vice president for Crédit Suisse, feared that the deflationary cure has become too dangerous. He noted that trade protectionism is growing and that there is also the risk of an international financial squeeze that could dry up bank lending. It was time, said Mast, "to go on the economic offensive" against present policies...