Word: financee
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Dates: during 1960-1969
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Mrs. Gandhi had thrown her prestige behind Acting President V. V. Giri, but the Syndicate vetoed his nomination. Then Indira switched her support to Food and Agriculture Minister Jagjivan Ram. The Syndicate, however, forced through the approval of Sanjiva Reddy, Speaker of the Lok Sabha (lower house of parliament) and...
After a day of plotting tactics, she issued a curt announcement from the President's House stating that "Mrs. Indira Gandhi, Prime Minister, shall be Minister of Finance in addition to her present charges." Stripped of the powerful Finance portfolio, the angry and embarrassed Desai quit as Deputy Prime...
Their icy confrontation served only to deepen the Congress split. Desai demanded reinstatement to the Finance Ministry. Mrs. Gandhi refused. Then she proceeded to carry out her proposals herself. At week's end India's 14 largest private banks were nationalized. Stunned by the speed and force of...
The finance and economics ministers of the Six did somewhat better. After considering proposals from the Common Market's Executive Commission for joint economic planning and budgetary discipline to deal with overheated European economies, the ministers agreed -in principle-to set up a unified monetary mechanism. The details would...
Public ownership has been studied and restudied ever since Merrill Lynch suggested the idea in 1963. The issue was brought to a boil in May, when Donaldson, Lufkin & Jenrette, an aggressive company that specializes in institutional business, needed new sources of capital to finance expansion, and announced that it was...