Word: europeanize
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Dates: during 1990-1999
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...euro made its trading debut Monday in true honeymoon fashion: lots of ceremony and no problems. In trading from Asia to Europe to Wall Street, the world's new currency heavyweight rose steadily against the U.S. dollar and delivered, for one day at least, on its promise of European prosperity by sparking market rallies in Germany and France. But TIME senior economics reporter Bernard Baumohl says Europe's new union faces some rocky days ahead...
...center-left governments now in charge in Europe weren't the ones who put together this deal," reminds Baumohl. "Politicians won't be able to deal with unemployment by cutting interest rates anymore ? that's now the job of the European Central Bank, which has to fit one monetary policy to 11 different countries. It's going to be very frustrating." If the euro works for Europe ? attracting investment, increasing efficiency ? look for a South American currency, or even an Asian currency, a decade or two down the road. But if this deal gets torn up over political squabbling, says...
...While President Clinton called for a five-year moratorium in this area, 19 European nations have signed a treaty banning (a) manufacture of handguns (b) whaling (c) trade with Iraq (d) human cloning...
...based money-management concern, Caisse des Depots et Consignations, strongly disagrees. His scenario: the countries of "Euroland," as the 11-nation currency bloc is being called, will focus more than ever on pumping up their domestic economies, which are suffering from slow growth and high unemployment. Though the new European Central Bank will officially be independent of any national government, political leaders of the 11 countries will be pressing the bank to lower interest rates and keep them down, in coordination with the U.S. Federal Reserve. (Early in the month, all 11 countries, for the first time, cut interest rates...
...been quiet for four months, Washington still sees him as a major threat. The White House has ordered stepped-up efforts to disrupt the terror network, but with mixed results. Treasury Department officials have made no headway dismantling bin Laden's financial empire. Most of his investments are in European or African companies that are unaffected by U.S. economic sanctions and don't deal in dollars, which Treasury could track. The State Department, likewise, has not convinced Afghanistan's ruling Taliban to evict bin Laden so the FBI can get its hands...