Word: frenchmen
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...bring down the franc, France remains troubled and uneasy. Prices are rising. So are taxes, as a part of De Gaulle's new austerity program. Unrest continues to ripple across France's universities and factories, the centers of last spring's upheavals. All over the country, Frenchmen are worried that fresh economic crises or new disorders may break out. Some questioned the ability of De Gaulle and Premier Couve de Murville to cope with a new onset of troubles. The uneasiness extends into the top echelons of De Gaulle's party. Says Gaullist Secretary-General Robert...
...rallied a bit in international trading. The pound gained after Britain reported that rising exports had lessened its chronic trade deficit during November. The franc rose even though France announced a $200 million November trade deficit, triple that of October. The money was stronger because, for the moment, most Frenchmen seemed to be accepting De Gaulle's stringent curbs. But the real test will begin early next year, when unions are expected to demand pay increases...
...needs. In addition, France has long suffered from the tendency of many of its people to distrust their own currency, to put profit above patriotism and to have as their motto "In gold we trust." The crisis of the franc is basically a crisis of national confidence. Too many Frenchmen have been buying bullion and foreign money and transferring their savings to foreign countries in hopes of eluding an increase in taxes and a decrease in the franc's value. It is too easy for self-righteous Americans to condemn this behavior. Anybody who has not seen...
...years by the Michelins, who generally consider autos an adjunct to their profitable tire business. Citroën's two basic models, the tinny, 20-year-old 2 CV and the 13-year-old, bullet-nose DS, were highly successful in the 1950s and early 1960s, when automanic Frenchmen would wait months for a car. That situation no longer exists, but Pierre Bercot, an able but conservative executive who became Citroën's boss ten years ago, has not yet seen fit to modernize old models...
...still rising, and some industries plan to lay off nonessential workers to help meet their added payroll costs. Thousands of small firms are expected to go out of business entirely when the full impact of the wage raises hits them in the fall. Despite exchange controls forbidding most Frenchmen from taking more than $200 a year out of the country, the flight of capital remains a drain on the franc...