Word: gaillard
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Sitting at the side of Premier Maurice Bourgès-Maunoury, his friend and frequent tennis opponent, was the young man entrusted with saving France from economic folly. Handsome, lanky Félix Gaillard at 37 is France's youngest Finance Minister of the century. A man who comes from the cognac country, wears the Rosette of the Resistance, plays clean classic piano and dirty rock 'n' roll, Politician Gaillard is a man with a mission. For his colleagues he drew a lucid and gloomy picture...
Without Transfusions. In the past 18 months, said Gaillard, France has exhausted its $1.1 billion Stabilization Fund and run through its $500 million European Payments Union loan; the $300 million advanced a month ago from the Bank of France's precious gold reserves "will not last beyond the end of September." For the first time since World War II France can no longer count on generous transfusions ($5.5 billions in U.S. aid since...
...index, artfully manipulated to conceal the inflationary upcreep, has finally burst through its ceiling, setting off an automatic 5.5% minimum wage rise for 800,000 employees. With every allowance for crop failures, the cost of Suez and the price of Algeria's billion-franc-a-day war, said Gaillard, France's "fundamental" trouble is that "for several years our internal consumption has been rising more rapidly than our production...
...Gaillard urged a 5% tax boost on "unessential goods," from furs and motorcycles to radios and yachts. He wanted a reduction in state subsidies, which would probably result in a 10% rise in rail and subway fares and gas bills. And he demanded a 600 billion-franc ($1.7 billion) slash in government spending. "These measures may look severe to you," concluded Gaillard, "but they are barely sufficient." Even with these measures Gaillard was budgeting for a $2.3 billion deficit this year...
Oralists for the Gardner Club were Robert S. Jones and Curtis W. Poole. They were assisted in the brief by John R. Alger, William D. Gaillard III, Wallace M. Kain, D. Kenneth MacDonald, David H. Roenisch, and H. Simmons Tate...