Word: euros
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...injection of funds, in the form of export credit guarantees, bank loan write-offs and new bank credits amounting to $470 million. Events, though, were rapidly running against the troubled colossus. In June, President Ronald Reagan suddenly broadened the U.S. embargo on sales of American products for the planned Euro-Soviet gas pipeline, endangering a $260 million AEG-Telefunken contract to deliver to the Soviets 47 gas turbines that are being built under a U.S. license. Durr's ambitious program to restructure the company, called AEG '83, was stillborn when trade unions blocked the elimination of some...
Your articles on START and the Euro-Soviet gas pipeline [July 12] clearly show the inconsistencies in our policy toward the Soviets. With START we are indicating our desire for economic and military cooperation. Yet we are trying to impede the construction of a pipeline that will be a significant Soviet investment in Western Europe. The willingness of the Soviet Union to build such a link should be accepted and welcomed by our European allies and by us as a stabilizing factor in Euro-Soviet relations...
Following the announcement from Paris, President Reagan ordered the Commerce Department to study the legal implications of the French move. But he went out of his way to play down the Euro-American feud. Reagan stressed to a television interviewer in St. Louis that Mitterrand had inherited the contract from his predecessor, Valéry Giscard d'Estaing. Said Reagan: "Our allies pointed out to us that they had already gone forward to the point that they did not feel they could retreat." Washington could try to impose penalties, including fines and blacklisting in the U.S., if Alsthom-Atlantique...
...more than a debate, deeper than a commercial dispute over narrow national interests. The public row that pits the U.S. against its major allies over the projected Euro-Soviet pipeline has exposed a gaping fissure in an issue central to the Atlantic Alliance's very existence: how to deal with the Soviet Union. Meeting in Brussels last week, the leaders of the ten-nation European Community sternly warned President Reagan of the "adverse consequences" of his move to block or at least delay the planned $10 billion pipeline that is supposed to deliver natural gas 3,500 miles from...
...knowledge of the region is newly acquired; he previously focused on Euro pean relations and trade, and does not speak Spanish. In his Latin American stint, he has become certain that the small, fragile Caribbean nations are unable to re main the he consigns them to conquest by Marxists unless the U.S. steps in. Says he: "This is not a matter of dispute. No one can seriously argue anything else...