Word: erhard
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Nobody hurried. Aboard his blue overnight train from Bonn, Ludwig Erhard snoozed for two hours on a siding along the Mosel so as not to get to Paris too soon. When he finally arrived at the Elysee Palace, Charles de Gaulle kept him waiting another 28 minutes...
...Ludwig Erhard, who turned 69 last week, has neither skill nor stomach for back-room politics, relies instead on his formidable success as a university-trained economist to hold the favor of West German voters. Now, however, he is caught in a dreadful dilemma: he may have to take up Parteipolitik in self-defense...
...party he rode (or carried) to power, the Christian Democratic Union. Canny old Konrad Adenauer clung to the job even after he stepped down as Chancellor nearly three years ago at the age of 87, and has used the post to embarrass his rotund successor with anti-Erhard maneuverings inside the party. Last month, Adenauer decided at last to give up the C.D.U. chairmanship, hoped to install a candidate sympathetic to his policies, preferably Interior Minister Paul Lücke, in the balloting at the C.D.U. convention next month...
...Erhard had a candidate of his own who could probably have beaten Lücke: able, industrious C.D.U. Party Manager Josef-Hermann Dufhues, 57. But last week Dufhues announced that for "personal" reasons, he would not run for the post. For lack of any other suitable Erhard man, der Dicke last week was grimacing at the prospect that he might have to take over the C.D.U. chairmanship and become a politician in spite of himself...
...depressing capital investment. Though Germany still boasts the world's second highest exports (after the U.S.) and $7 billion in monetary reserves, the hunger of its increasingly well-to-do consumers for imports caused a 1965 net balance-of-payments deficit of more than $350 million. Economist Ludwig Erhard's government is trying to combat the problem by raising some taxes and holding back federal spending...