Word: europeanization
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Dates: during 1980-1989
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...Furmark, a consultant to Saudi Billionaire Adnan Khashoggi, described a financial mystery in an interview with TIME. His story: Khashoggi lined up $25 million in bridge financing for U.S. sales of arms to Iran this year. Toronto Investors Donald Fraser and Ernest Miller, together with some Middle Eastern and European investors, routed the $25 million via Khashoggi into the Swiss account of Lake Resources, Inc. -- $10 million in February and $15 million in May. Why Lake Resources? Says Furmark: "Mr. Khashoggi said Mr. Nir of the Israeli government told him that Lake Resources was the account the Americans had designated...
...Europe last week while Washington burned? There was Secretary of State George Shultz, arriving in London on the first leg of a five-day fence- mending trip. While in the British capital, he crossed paths with Attorney General Edwin Meese, who had come to urge a meeting of European Community interior ministers to stand tough against terrorism. Defense Secretary Caspar Weinberger had just been in Belgium shoring up U.S. arms-control positions with his NATO counterparts. And at week's end Shultz led a platoon of top officials, including Treasury Secretary James Baker, to Brussels to talk about some prickly...
...diplomatic eyes were on Shultz. The Secretary's agenda listed a variety of arms-control issues, but he was clearly there to hold European hands and soothe European fears about the stability of American foreign policy in the wake of the Iran-contra arms scandal. "I have a rebuilding job to do," he told reporters. Shultz, who has made his dissent from the Iran policy well known, had the unenviable task of persuading the allies that the investigations have not seriously hampered President Reagan's ability to manage U.S. foreign policy...
While sympathetic to Shultz's mission, European leaders were still indignant about "Iranscam" and skeptical that Reagan will be able to put the scandal quickly behind him. Just before Shultz arrived, a senior British official privately complained that he was "dismayed and disappointed" at the U.S.'s departure from its stated refusal to negotiate with terrorists. The conclusion that U.S. foreign policy will be affected, declared NATO Secretary- General Lord Carrington, should occur to "anybody who reads the newspapers about what is happening in Washington...
...crisis intensified Europe's growing feeling that it must join together to assert its strategic interests in superpower negotiations. Since the summit at Reykjavik, where the Europeans were horrified to see Reagan come close to abolishing their nuclear umbrella, calls for greater European security cooperation have been increasing. The most powerful statement came two weeks ago, when French Premier Jacques Chirac proposed a new European security agreement to ensure a strong nuclear deterrent on the Continent. In addition, since Reykjavik, European leaders have relied even more on their long-standing system of informal contacts among top aides to help formulate...