Word: german
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Dates: during 1970-1979
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...true Common Market partner. Squabbling continued through the week not only about money and planes but also over a common fisheries policy for the E.C.; the British are threatening to veto the policy unless they are guaranteed the lion's share (60%) of the catch. Said one exasperated West German official: "The British once and for all have to make up their minds whether they...
...Europe, where the dollar's gyrations last winter and spring cost the U.S. Treasury some $3 billion in support operations, the greenback was already so grossly undervalued against the West German mark that the exchange rate remained relatively stable at about 2.04 to the dollar. But the value of the Swiss franc rose to an alltime high of 1.75, and the price of gold surged to a record $201 an ounce on frantic trading in both London and Zurich...
...Market countries have toyed with the tempting idea of forming a monetary union. Each time, attempts at linking national currencies were abandoned as premature because of widely different rates of inflation and economic growth within the European Community. The foundering dollar, though, has overshadowed these objections. Spurred by West German Chancellor Helmut Schmidt and French President Valéry Giscard d'Estaing, the Common Market is moving rapidly and seriously toward a new monetary scheme that would stabilize currencies of the nine member nations and thus enhance trade among them. It would also distance members from the influence...
Last week Common Market finance ministers met in Brussels to thrash out details of the proposed system. At its core would be the European Currency Unit, or ECU, whose value would be based on a "basket" of European currencies in which the German mark would weigh the most heavily. The ECU would be not a bill or a coin but a series of accounts that member governments would use. European currencies would be allowed to fluctuate around the ECU in a narrow band of 1% either way, and the ECU would float against the dollar. Moreover, when member nations intervened...
During the '60s, many West German women accepted nudity in serious magazines as a sign of emancipation, not exploitation. But West German feminists have been at least a decade behind their U.S. counterparts. Only this year did a West German woman fight and win the first equal-pay lawsuit. With the Stern suit, says Schwarzer, "we have set into motion a change of consciousness...