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...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...

Author: /time Magazine | Title: Argentina: Back on Speaking Terms | 7/22/1966 | See Source »

...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...

Author: /time Magazine | Title: The Economy: No Longer Boiling But Still Hot | 7/15/1966 | See Source »

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...

Author: /time Magazine | Title: Britain: Time for Miracles | 7/15/1966 | See Source »

...loosed a barrage of abuse against Hussein. The King hit back by branding Shukairy, whose P.L.O. ranks are equipped with Soviet weapons, "a tool of international Communism." Shukairy became personal. He accused the Jordan royal family of corruption, claimed that Hussein's brother Prince Mohammed operated an arms-import racket that provided Israelis with weapons. Shukairy's agents began whispering the word traitor against Hussein in Jordan's refugee camps. To a refugee population obsessed with a return to Palestine, such charges go over dangerously well...

Author: /time Magazine | Title: Middle East: King on the Spot | 7/8/1966 | See Source »

...often that sets and costumes merit the first and highest praise in a Shakespearean production, but the current Twelfth Night on view at stratford is certainly one instance. The dramatist laid the play in Illyris near the Adriatic coast; but the locale is of no particular import, and Will Steven Armstrong decided to make this romantic comedy a little more exotic by pushing it into a Near East such as Elizaebthans might have envisioned...

Author: By Caldwell Titcomb, | Title: STRATFORD SHAKESPEARE FESTIVAL: II | 7/8/1966 | See Source »

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