Word: halting
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While the political parties continue to look for a possible deal, the business of Greece has come to a halt. Since there is no elected head of government, President Christos Sartzetakis will represent Greece at this week's European summit in Madrid. Negotiations with the U.S. for a new agreement on American military bases in Greece must await a functioning government. A long-overdue austerity program is also on hold. "The country is running itself now," said Parliament member George Voulgarakis...
...samba have been joined lately by stock-market speculation. Since May 1987 the bourse in Rio de Janeiro has jumped almost 400%. Lebanese immigrant Naji Robert Nahas, who alone accounted for nearly half of the market's trades in recent weeks, brought Brazil's bulls to a halt last week after several brokerage houses discovered that $31 million of his checks had bounced on them. To avoid a bearish stampede, the Rio and Sao Paulo markets were forced to close last Monday. When trading resumed the next day, the benchmark I.B.V. index plunged 9% and ended the week down...
...about 10% in each company. The exchange could have the effect of frustrating Paramount by placing a large block of Time stock in friendly hands, and it gives Time a head start in its acquisition of Warner shares. Time also asked a federal court in New York City to halt the Paramount bid on the grounds that it reflected a "campaign of deception and manipulation" to derail the Time-Warner merger. The suit alleged that Paramount feared the competitive impact of a Time-Warner combination and was intent on keeping such a merger from taking place. Said Nicholas...
...Cabinet -- and its only member to remain in office throughout both Reagan terms -- the former President once greeted him as "Mr. Mayor" at a conference of mayors. Under Pierce's feckless leadership, HUD's budget was pared 70% (it stands at $14.9 billion for 1989). Little was done to halt a decline in the nation's inventory of low- income housing, from which 4.5 million units have disappeared since 1973. Critics charge that programs were dismantled, talented staffers were fired and unqualified managers were promoted. Pierce went along with all of it, earning the nickname "Silent...
CAPTION: GRINDING TO A HALT...