Word: germans
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Dates: during 1970-1979
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Nonetheless, the choice of Choi held out a realistic hope for gradual liberalization. A Confucian scholar's son who speaks five foreign languages (English, German, French, Japanese and Chinese), Choi describes himself as "a caretaker." What Korea needs most, he has told friends, "is not a hero but a good many good managers." He is already on record with a series of pledges: to restrict his term in office (to perhaps two years at most), to oversee the preparation of a new constitution (which might limit the President to one six-year term), and to call a new election...
...hoopla, however, newsmen saw only about 30 tanks and 150 troops aboard the "train of hope and good will" at Wittenberg. Though the Soviets have promised to withdraw 1,000 tanks and "up to" 20,000 soldiers over the next year, that action will not significantly reduce their East German force, which includes 6,700 tanks and 365,000 troops. Moreover, the outfit involved in last week's withdrawal, the Sixth Guards Tank Division, is rated by the Pentagon as the least capable of all the Soviet units in the Warsaw Pact countries. Essentially, say U.S. analysts, the much...
...effort to dump the dollar as the currency of the world oil trade, a move that would undermine the value of the greenbacks they already hold. But Iran and Libya are urging OPEC to switch from dollars to a so-called basket of currencies, which presumably would include German marks, Swiss francs and other Western money, and a fight at next week's meeting seems likely. In the doubtful event that OPEC did take such a step, demand for those currencies would send their value soaring on money markets as the dollar plunged...
...West German bankers have been particularly angry. Morgan Guaranty, one of Chase's U.S. partners in the defaulted $500 million loan, went into a German court and attached Iran's 25% investment in two big German companies, Friedrich Krupp and Deutsche Babcock. Last Tuesday, a day after a terrorist bomb exploded outside the bank's Frankfurt office, Morgan obtained a second court lien on the same assets to cover yet a further Iranian debt. The German bankers had thought they would have first call on these assets if Iran failed to pay some of its German loans...
DIED. Friedrich Ebert, 85, mayor of East Berlin from 1948 to 1967 and member of the East German Politburo; of a heart attack; in East Berlin. The eldest son of the Weimar Republic's first President, Ebert was jailed and harassed under Hitler and joined East Germany's Communist Party after the war. From 1971 until his death, he served as a deputy head of state...