Word: importance
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Dates: during 1960-1969
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...funereal Peace Palace donated by Andrew Carnegie shortly before World War I, the World Court in The Hague has been a graveyard of political illusions. Lacking an effective executive to enforce its decisions, hamstrung by conflicting bilateral treaties, and limited to advisory opinions on issues of worldwide import, the Court of International Justice is like a traffic cop without a whistle...
...expected to announce a series of "directives" spelling out a program of austerity and reform. Reports say they will include a sharp cutback on state employment, special export credits to stimulate foreign trade, more public housing, complete overhaul of Illia's disastrous oil policy that forced Argentina to import petroleum for the first time in years, and reorganization of the country's food-distribution system to eliminate middlemen and help blunt the cost-of-living spiral...
...Isabel rejoined el líder in his Spanish exile. She was met with a lengthy embrace from unwan Juan, looking less than his 70 years, and the couple went off for "a second honeymoon." Their transportation: a black Mercedes that is registered in the U.S. to avoid Spanish import duties. Old dictators know all the tricks...
...economy is no longer boiling, it is still hot. One symptom is that prosperous American consumers are buying rising quantities of goods from abroad; by the National Foreign Trade Council's estimate, the U.S. this year will export only $4 billion more merchandise than it will import, the smallest export surplus since 1959. That shrinkage alone could easily hike the U.S. balance-of-payments deficit this year from its $1.3 billion...
Indeed not; and suggestions echoed around London last week that raising the bank rate alone might not be enough. Apart from devaluation, which the government is desperately determined to avoid, there are two possibilities for further action: a politically risky wage freeze and import controls. Clearly, Britain will need Draconian measures-or miracles...