Word: giscards
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...French situation had not deteriorated so badly when in April 1978 they embarked on a very basic strategic change. The government of Barre and Giscard d'Estaing saw sufficient political support to enable it to take a longterm point of view. Even before then, able French bureaucrats had developed a strategy but it was more of inflating domestic demand and periodically devaluing the franc to bring French costs into line, but underinvestment in sectors involved in international trade left French industry ill-equipped for competition...
...intensify the country's inflation fight by means of low budget deficits and controlled monetary growth. But there are trouble signs: pressure is building to hold wages down, which would surely enrage the highly politicized unions and endanger the 1981 re-election prospects of President Valéry Giscard d'Estaing...
...pretty much ended the traditional role of the ambassador as a decision maker and formulator of policy. "Not such a long time ago, instructions came by couriers on horseback or by ship," says a West German diplomat. "Now," says a Bonn Chancellery colleague, "if Schmidt wants to talk to Giscard, he picks up the phone...
Schmidt and French President Valéry Giscard d'Estaing share Washington's view that the Soviets must withdraw their troops from Afghanistan. The two leaders also believe that Carter overreacted to the invasion, largely because of domestic political considerations. Bonn has tried to play down the transatlantic differences, stressing that they involve approach rather than objectives. Nonetheless, the result has been a closer relationship between Bonn and Paris, culminating in the Schmidt-Giscard summit in the French capital last month. As a Bonn official put it, both men "felt strongly that they had to protect Western Europe...
...fast-moving fiction. Virtually all the international figures in The Fifth Horseman-the important exception being the U.S. President-are identified and living people. Israeli Premier Menachem Begin's daughter Hassia plays the piano in the family's Jerusalem apartment; France's President Valéry Giscard d'Estaing has a secret meeting with his top aides to discuss energy matters...