Word: iranians
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Dates: during 1970-1979
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...odds since mid-November. It was then that Chase Manhattan and six other large U.S. banks in an eleven-member syndicate used their voting majority to declare a $500 million loan to Iran in default. That raised fears of still further defaults and sparked the rush to seize Iranian assets as compensation...
...Europe to reconsider and reverse the default. One reason: the bank apparently did not tell its European partners that Iran had asked for a transfer of its funds to pay the interest on the loan, but that this payment had been blocked by President Carter's freeze on Iranian assets one day before it was due. Some Europeans now charge that the U.S. banks are acting as mercenary scouts of the Carter Administration in its campaign against Iran and that they have stopped playing the banking game under the gentlemanly rules of prior consultation...
...court and attached Iran's 25% investment in two big German companies, Friedrich Krupp and Deutsche Babcock. Last Tuesday, a day after a terrorist bomb exploded outside the bank's Frankfurt office, Morgan obtained a second court lien on the same assets to cover yet a further Iranian debt. The German bankers had thought they would have first call on these assets if Iran failed to pay some of its German loans...
...also became known that the assets seizures began earlier than many had supposed. Several weeks ago, a French court had quietly frozen Iran's $1 billion stake in Eurodif, the large multinational uranium enrichment project in Western Europe, after Iranian leaders failed to meet routine payments. The move served notice on Iran's new leaders that no foreign investments were safe from seizure...
Through five weeks of press briefings on the Iranian crisis, State Department Spokesman Hodding Carter III has shown himself a master of the diplomatic metaphor, using colorful figures of speech with a surgeon's precision. Last week the English language began to show signs of strain under Carter's constant hard use. When asked about what the U.S. would do next with the deposed Shah, the spokesman replied at different times...