Word: evens
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Dates: during 1980-1989
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...chemical weapons. In Spain, which will be host to both the Summer Olympics and World's Fair in 1992, a vibrant mood of enterprise and enthusiasm mirrors the distant days of another century, when Spanish ships braved the unknown to discover new lands and Christopher Columbus reached the Americas. Even Italy is awash in cash and exuding optimism, despite creaking public services and revolving-door governments that can be in and out of office faster than it takes a letter to go from Rome to Milan. "To speak of Europhoria is right," says Foreign Minister Gianni de Michelis. "There...
...eyed warily by the rest of the globe, the twelve members of the European Community* have pledged to unite their markets by Dec. 31, 1992, creating the world's largest market and trading bloc. West Europeans have few illusions about their ability to create a United States of Europe. Even within individual countries, regional rivalries are still pronounced, and the Continent's cultural diversity will continue to be a barrier to political unification. Only last week the E.C. warned of "worrying delays" by member countries in implementing single-market legislation. But Project 1992 has given fresh momentum to a process...
...coming months and years Washington is likely to be confronted by European contrariness and even defiance on subjects ranging from arms control to international economic cooperation. At the summit of the seven industrialized powers in Paris this summer, the E.C. sought and secured the lead role in coordinating the West's efforts to aid Poland and Hungary. At the conventional-arms talks in Vienna, the U.S., NATO's erstwhile champion, now sits alongside other alliance members at the negotiating table. In the Middle East, France seems to be bidding to take a lead role, seeking to negotiate a cease-fire...
...approaches, there is fear that Western Europe will erect protectionist ramparts to shelter its rich new market. Dependent on global trade for their prosperity, most Europeans recognize the need to prevent such an outcome. But even if Western Europe remains open for business, the Continent's growing stature is bound to produce further strains in its relationship with...
...Western Europe's protected national markets will hurt inefficient firms, but the hope is that enough competitive winners will emerge to ensure that Western Europe has its champions in the 1990s and beyond. West European governments are curbing their interventionist instincts and freeing businesses to make profits. Even when a socialist government was returned to power in France last year, it conceded the benefits of free enterprise by pledging not to renationalize the enterprises that its conservative predecessors had shifted to private control...