Word: dollarization
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Dates: during 1980-1989
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Last week Eastman Kodak Co., the world's largest supplier of photographic equipment to the multibillion dollar amateur market, took a giant step toward the elimination of misbegotten pictures. The company's solution is a compact new camera called Disc. Said Modern Photography Contributing Editor David Eisendrath after trying the photo mite: "It is virtually idiot proof...
...airline, borrowed $359 million to expand his fleet of DC-10s and Airbus A300s with the intention of adding new services between European and Asian capitals. Then trouble struck. Fuel prices surged, recession in the U.S. and Europe cut into passenger traffic, and the rise of the dollar's value against the pound upset Laker's balance sheet. Much of his revenue was in pounds, but he had to make debt payments in dollars...
...aides, who strongly and unanimously urged new revenue measures. Chief of Staff James Baker and Budget Director David Stockman, and eventually the rest of the Reagan high command, were convinced that increased taxes were needed to save the Administration from increasing the nation's trillion-dollar debt by a whopping one-third during their first term. They tried to get Reagan to accept excise taxes as part of the trust fund for the transition of programs to the states. A week before his speech, Reagan agreed. But before he left for Camp David that weekend, he told...
...call for a rollback in the overextension of the Federal Government, a more rational division of state and federal functions and the need to bring many governmental decisions closer to the people who must live with the results. The desire to get more value out of each tax dollar was warmly applauded. Declared Republican Governor James Thompson of Illinois: "It's time to give us our money back...
...much more rare: real international cooperation. The big rocket's first and third stages were built in France, the second in West Germany. Britain developed much of the computer software. Contributions came from Belgium, Spain, The Netherlands and, in fact, all of the founding partners in this billion-dollar collaboration. Ariane's first commercial flight is scheduled for late April, only a few weeks after Columbia's next launch, due March 22. Three more Arianes will be hurled aloft in 1982. The first will carry an Italian-made meteorological satellite and the British-built Marecs B maritime...