Word: high
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Dates: during 1950-1959
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...those of Germany, Italy and Benelux. Now, in addition to devaluing the franc, France had also to make it convertible-or else face a capital flight away from the franc to the convertible pound or Deutsche Mark. Unlike Britain, whose gold and dollar reserves are at a seven-year high, France is running a $60 million foreign-trade deficit every month...
...million deficit in E.P.U.-will have to keep inter-European payments more closely in balance than before. Along with this consequence of convertibility went another risk -the prospect that any of the ten new "convertible" nations that fails to control its domestic inflation and maintain its exports at a high level will be faced with a deadly run on its gold and dollar reserves...
...restrictive. Politically, the new Assembly, calling itself Gaullist, is considerably more rightist in outlook than the general himself. Above all, the four-year-old Algerian Moslem revolt continues to drain France of $2,400,000 a day, and prospects for a negotiated end to the fighting, once considered high, were badly dashed last October, when the rebels angrily considered De Gaulle's soldier-to-soldier, "flag-of-truce" offer a humiliating proposal...
...leader of Free France, he was proud, touchy, intransigent. Winston Churchill felt that De Gaulle owed his continued existence to the British, and should be grateful and compliant. All parties concerned have since composed more graceful tribute to one another, but in those tense days feelings ran high. To Franklin Roosevelt, De Gaulle was an upstart playing Joan of Arc. "Yes," Churchill is reported to have rejoined, "but my bloody bishops won't let me burn...
...many rumors but little evidence of Communist arrests in Syria. He carefully made no mention at all of the even touchier situation created by the Communists in Iraq. Nasser's regime signed a contract with a Soviet delegation in Cairo for the building of Nasser's Aswan high dam, and Nasser's propagandists, covering the boss's anxious retreat, put out the naive-sounding line that Arabs must distinguish sharply between bad local Communists and good Russians. Nothing in the Syrian unpleasantness, wrote Nasser's trained seal. Editor Mohammed Heikal of Al Ahram, must...