Word: franc
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Dates: during 1970-1979
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...annual rate of inflation in August dropped to 6.2%, the lowest since January, and unemployment figures for September, released last week, showed a slight decline. The nation's trade deficit will probably be reduced this year to around $3 billion, from $4 billion in 1976, and the franc has stabilized at about 4.86 to the dollar. On the other hand, output of goods and services is likely to grow only 3%, v. an original forecast from Barre...
...netted what was probably the biggest holdup haul in French history: $3,540,000. But the question that bedeviled Frenchmen last week was what in the world the culprits thought they could do with their loot. The bandits had made off with newly minted, neatly packaged, bronze-colored ten-franc coins-1,770,000 of them, to be exact-that weighed 17.7 tons and would require nearly 30 cu. yds. of space merely to store. If the four bandits each spend $100 per day of their bulky loot without raising suspicion, they will be plunking down the last of their...
...should be able to absorb the coins (provided police informers don't spot them). Moreover, several national passions-ranging from tippling to the weekly tierce horse race-force cafes to keep large amounts of coins on hand. Last year two crooks who had stolen $80,000 in one-franc coins tried to convince police that the loot was unrecoverable because they had spent it on that greatest French coin guzzler of all-the pinball machines...
...policy on the international front has been a growing source for grumbling. Last week disagreement with the Administration's foreign economic policy flared again in the wake of two developments: the plunge in the dollar's value to new lows against the West German mark, the Swiss franc and the Japanese yen hi international money markets, and the Government's report of a record monthly foreign trade deficit of $2.82 billion for June. For the first six months of the year, imports outpaced exports by $12.6 billion, and official estimates are that the deficit...
Export Disadvantage. Increasingly, there are indications that among the Swiss public banking is no longer quite the hallowed institution it once was. Manufacturers feel that the flow of funds into Switzerland has overvalued the Swiss franc and thus put Swiss textiles, watches and machinery at a disadvantage in export markets. Says Swiss Accountant Max Fluri: "Our banking sector has grown taller than the Swiss Confederation. For some time, it has been bringing the country more harm than good...