Word: jacobsson
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...Warning on Costs. Last week there was no indication that any official action was being considered to stem the gold outflow. Treasury officials professed to be pleased at the growing signs that the U.S. policy of helping Europe to boost exports was running according to plan. Said Per Jacobsson, director of the International Monetary Fund: "I do not think the U.S. gold outflow represents any real threat to the dollar. With the U.S. possessing more than half of the world's gold it would be absurd to say that...
...wagging an avuncular finger, Jacobsson said that with the fall of exports and loss of gold, the businessmen of the U.S. might well take stock of their competitive position, read a "warning about the trend of costs and prices...
...eyes of most Europeans, the likely gains far outweigh the risks. Return to convertibility, said Per Jacobsson, managing director of the International Monetary Fund, "is an outward and visible sign of the comeback of Europe in world affairs." More important yet, it went a long way toward establishing the climate of economic freedom in which international trade and investment have historically flourished. And it was only by establishing such a climate that mid-20th-century Europe, shorn of its empires, could achieve long-term prosperity and political health...
...Jacobsson, managing director, International Monetary Fund. . LL.D...
...world. The speculators had sold the pound short in the hope of devaluation, or had sold it to buy German marks in the hope that they would be revalued upwards, possibly both steps to be taken at the fund meeting. Merchants had engaged in a game of what Jacobsson called "leads and lags." The leaders (British importers) had sold sterling to buy dollars and other foreign currencies to pay their bills well in advance of due dates, thus save money come devaluation. On the other hand, the laggers (foreign traders) had delayed buying sterling to pay their bills, hoping...