Word: european
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Dates: during 1960-1969
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Shouting Match. The revival of the bloc system brought scant comfort to one country that is perilously caught both geographically and ideologically between the two blocs. It is Yugoslavia, whose President, Marshal Josip Broz Tito, not only was the first Eastern European ruler to achieve his independence from the Soviet overlordship but also served as an inspiration to Czechoslovak Party First Secretary Alexander Dubcek in his ill-starred search to find a measure of freedom within Communism. The recent Soviet press campaign against Tito ("lover of counter-revolution") and his country is almost as bitter as the one against West...
...cleverly seized upon West Germany's earlier permissive attitude to set up a new party. By so doing, he and his Soviet superiors have accomplished two important goals: they have 1) founded a new, hard-lining party in Western Europe at a time when the major Western European parties have split with Moscow over the Czechoslovak invasion, and 2) created an instrument for stirring up political strife in the Federal Republic...
Tendency to Dilute. Compared with the New York Stock Exchange or sedate European markets, the Tokyo exchange looks like a speculator's paradise. Volume is enormous (it hit a high of 574 million shares last week). Stocks are quoted at what seem to be rock-bottom prices; most shares are below the $1 level. The highest-priced stock, Sony, is selling at about $3.60 a share. But the opportunities are not as splendid as they may seem-mostly because of the tendency of Japanese corporations to dilute the value of their stock by issuing huge quantities of shares...
Despite U.S. objections that this would put a floor under the free-market price and thus reward speculators against the dollar, the idea has gradually won strong backing among European bankers. Many worry that the value of their own hefty gold stocks would be lowered if the free-market price should slip below the official price. The larger South Africa's gold pile grows, the more nervous the bankers get, fearful that the great golden overhang might somehow cause the free-market price to collapse. Some see South African sales to the IMF as a clever...
...Bercot revealed plans last week for a union of his ailing company with Fiat, the Italian automaker that ranks fourth in the world, behind only the U.S. Big Three. "It is not a question of Citroën's troubles," Bercot said, "but the problem of the entire European automobile industry." That problem, as the French are keenly aware, is competition from U.S. automakers in Europe...