Word: gaillard
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Dates: during 1950-1959
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LIKE all French Finance Ministers, Félix Gaillard occupies quarters in the Palace of the Louvre, and en route to his private dining salon passes through the state apartment of Napoleon III with its massive chandeliers, velvet drapery and columns, caryatids and cherubs encrusted with gold leaf. "Ugly, isn't it?" remarked Gaillard cheerfully to a TIME reporter. "All the gold I own is on these walls." This week Félix Gaillard arrives in the U.S. See FOREIGN NEWS, France's Daring Young...
Most noteworthy of the delegates of 63 nations assembling in Washington for an International Monetary Fund Conference is Félix Gaillard (pronounced guyyar), France's youngest finance minister in this century...
...Planner Jean Monnet helped draw up program for postwar modernization of French industry. Spent a year in U.S. as Monnet's assistant. In 1946 was elected a Radical Socialist Deputy from the Charente; in 1953, as Secretary of State to Premier René Mayer, launched le plan Gaillard, a five-year program for French atomic energy development. After holding junior office in four successive Cabinets went into temporary eclipse during the premiership of fellow Radical Socialist Pierre Mendès-France, who thought him overly conservative, overly Europe-minded. In 1955 headed French delegation which laid the groundwork...
...skiing, plays 15-handicap golf ("Maybe I'm good enough to play with President Eisenhower") and first-rate bridge. Much sought after by Parisian hostesses. Arrives late to work, leaves the office every night by 9 to dine with the family in his elegant Avenue Foch apartment. (Madame Gaillard, widow of one of France's wealthiest financiers, has two children by her previous marriage, a son by this one.) His chief handicaps: a malicious wit-"Nothing outside, nothing inside" was his verdict on a bald colleague-and the widespread feeling that he is a coldly ambitious golden...
...Gaillard's maneuvers succeed in closing France's foreign trade gap, he still has the problem of France's inflation-tilted economy. Since his domestic austerity program calls for ending costly commodity subsidies, many prices-starting with the price of bread-are headed up. Steelmakers have announced plans to raise prices 4.5%, government employees are pressing for a 10% pay boost. Taking to the radio, Economist Gaillard called for more civic spirit and warned that "if labor and management insist" on such demands, "they will be defeating all our efforts. Our defeat will be theirs...