Word: dollarization
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Dates: during 1980-1989
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...barely 8 on a Saturday morning, one of the two weekend days each month that Cubans are required to show up for work. The downtown Havana bus stop was already crowded. A foreign visitor buying a newspaper at a nearby stand offered a dollar bill to the vendor, a wizened and near blind old man. He eagerly accepted it and carefully counted the change in Cuban centavos. Moments later, a policeman, obviously summoned by the crowd, was glaring sternly at the vendor. Dollar transactions are not allowed in Cuba, an onlooker explained. The old man ruefully handed the greenback...
...will present during his visit. The measures involve sustained efforts to boost Japanese consumer demand and thus imports. Japan also plans to encourage the lending of perhaps as much as $30 billion to Third World debtor nations. The prospect of the changes, however, did nothing to strengthen the U.S. dollar: last week it fell below 140 yen for the first time in more than 35 years...
...rules the corporate takeover game? The U.S. Supreme Court threw considerable uncertainty into that multibillion-dollar question last week with a 6-to-3 ruling that seemed to give a greater say to state legislatures. The Justices affirmed that a 1986 statute restricting hostile takeover offers for companies incorporated in Indiana does not violate either the Williams Act of 1968, a federal law that regulates tender offers, or Article I of the Constitution, which says that only Congress can regulate interstate commerce...
Soros has an uncanny knack for switching successfully between stock, bond and money markets. In September 1985 he made what he calls the "killing of a lifetime" -- about $150 million -- by switching from dollar investments into Japanese yen. He took the plunge after learning that top officials of the five largest industrial countries (Britain, France, Japan, West Germany, the U.S.) had met at Manhattan's Plaza Hotel. Soros' guess: the five would lower the value of the dollar against other major currencies...
...this case, Harvard is "not suing for anyparticular dollar amount. The class as a whole issuing for the cost of replacing the asbestos,"Ryan said. If the universities win their case, aclaim settlement center would be set up toreimburse the schools as they incur replacementcosts, he said