Word: german
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Dates: during 1970-1979
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...discuss SALT and other matters with his main European allies on the French Caribbean island of Guadeloupe on Jan. 5 and 6. The meeting, which Carter described as "somewhat of a social affair," since wives will be along, will include French President Valéry Giscard ďEstaing, West German Chancellor Helmut Schmidt and British Prime Minister James Callaghan. Though there will be no formal agenda and no final communiqué, a Carter-Brezhnev summit would give the conferees plenty to talk about...
...idea of a currency union has been around since the European Community started in 1957. What advanced it now was the recent decline of the U.S. dollar, which has unsettled Europe's money and hurt E.C. economies. Every time the dollar dropped against the strong German mark, it also dropped-less so-against most of Europe's other, not-so-strong currencies. This caused annoying changes in the exchange rates between countries. Export trade was slowed because businessmen had to calculate and recalculate prices, and multinational companies postponed transborder E.C. investments because they could not forecast investment returns...
...prime mover behind the latest plan for monetary union was West German Chancellor Helmut Schmidt, who was especially unhappy at the threats to his country's exports and the general economic instability caused by the slumping dollar. Schmidt enlisted the help of French President Valéry Giscard d'Estaing to convince other E.C. leaders that it was time to act. He argued that "a zone of monetary stability" was necessary to revive lagging economic growth, slow inflation and make Europe immune from the dollar's malaise...
...Franco-German insistence, the E.C. countries agreed in principle last July to try to link their currencies tightly. It was decided last week that each currency would be assigned a set value against all the others and would be allowed to fluctuate only 2¼% above or below this point. In theory this should create a "zone of monetary stability...
...romance, though, didn't last forever. Hitler played a cruel joke on Hanfy, had him "taken for a ride" in a German fighter plane with orders to parachute out over Spain, a sure suicide mission. The pilot turned back eventually and brought Hanfy home, but the terrified Hanfy had had enough. He fled with Egon to Switzerland and then to the United States, where he waited out the war before returning to Germany to live in relative obscurity until his death...