Word: france
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...because the political and economic climate is more propitious than at any other time during President Giscard's four-year tenure. The Socialist-Communist opposition is still deeply split. With the threat of a leftist victory out of the way, prospects for the French economy have improved. The franc is steady, trade is in surplus, consumers are spending and corporate investment-which had been stagnant in anticipation of wholesale nationalizations by a leftist government-is picking...
...rent a small Mercedes-Benz 200 for a reasonable sum, he will find that it costs $82.60 a day, plus 30? per kilometer, plus gas, which can cost $1.75 per gal. on an autobahn. Obviously, the U.S. tourist needs to plan his trip with pfennig-pinching, shilling-saving, franc-squeezing acumen. If he does so, the wary wayfarer can still get a lot for his shrunken buck. Items...
University of Notre Dame William F. Buckley, LL.D., author, editor. A stowaway foretopman on the ship of state; a franc-tireur for the West and Christendom; a Burke, a Roland, a Quixote, with a whiff of Falstaff and a swing of the snickersnee...
...investment rush has been building for years, and now it is gaining momentum. One factor is the dollar's slump, which has enabled holders of West Germany's mark, Switzerland's franc, Japan's yen and other strong currencies to buy a piece of the U.S. at bargain prices. More important, in the new economic climate of high-energy prices, sluggish international growth and protectionist trade sentiments, the U.S. appears to be the country best suited to ride out the tempest. It also seems the nation least vulnerable to the terrorism that is ravaging Italy...
DIED. Jacques Léon Rueff, 81, free-market economist who helped Charles de Gaulle put France on the road to financial reform after 50 years of inflation and deterioration of the franc; in Paris. A firm advocate of the gold standard as an economic foundation for all Western countries, Rueff in 1958 carried out a drastic reduction in borrowing, the removal of nearly all quota restrictions for international trade and most significantly, the creation of a new franc (worth 100 old francs), which helped restore France's balance of trade and built up its gold reserves...