Word: franc
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...measure, Raymond Barre, 53, is an unlikely man to be leading the center-right coalition's battle to retain power in France. Author of the standard economics textbook used in French schools and a former vice president of the Common Market, Barre was virtually unknown in his own country until President Valéry Giscard d'Estaing named him Premier in August 1976. The roly-poly professor, who describes himself as a "square man in a round body," enjoys the fact that he is not a professional politician. His blunt, straight-talking manner has won him the respect...
...promises made by Mr. Mitterrand are fulfilled in the first weeks following an opposition victory, and if the first session of the new National Assembly is devoted to nationalization of a large number of French companies, it would mean inflation, an increased trade deficit, depreciation of the franc, and the disorganization of production at a time when we need to produce and to export...
...calamity because the U.S. was pouring out so many dollars. Now back in his native Belgium, where he is advising the European Community while on sabbatical from Yale University this year, he watches forlornly as the dollar crashes to record lows relative to the German mark and the Swiss franc...
...most interesting of the Dulles family was Eleanor, an intelligent and independent woman forced to work all her life in her brothers' shadows. In 1926 her doctoral thesis at Radcliffe was published under the title The French Franc. John Maynard Keynes declared it "the best book on monetary inflation that I know." After World War II, Eleanor played a major part in helping Austria reorganize its economy...
Although the franc rallied last week, it continued its headlong flight abroad. Mitterrand claimed that 500 billion francs ($100 billion) have been illegally exported to Switzerland. Though the claim was exaggerated, more and more apprehensive citizens were getting their money out of the country or hoarding gold-the Frenchman's historical hedge against political uncertainty. Most popular were the one-kilo ingots (currently worth $5,738), which fit nicely under mattresses, and the small $62 Napoleon d'Or and minuscule $46 demi-Napoleon coins, which can be conveniently secreted-and transported -in the traditional sock. In the past...