Word: junta
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Dates: during 1970-1979
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Forced to leave Greece in order to find work, Frank wanted to remain in Europe to be close to his parents. But when the ruling military junta made it very difficult to obtain exit papers to European countries, he decided on the U.S. It was only after Frank was here a year, that his parents could arrange passage to join him. At first Frank worked for his uncle at a Medford pizza parlor. Now he has his own place and his parents are here with...
Chile's military junta, which quickly overthrew the late Marxist President Salvador Allende in a bloody September coup, is struggling now with an infinitely tougher task: righting an economy that three years of maladroit socialistic experiments left in a shambles. When the generals grabbed power, inflation was roaring out of control; farm, factory and mine production were scraping bottom; Chile's banking and financial system had all but collapsed...
...last week the generals were swinging the economy toward a rigidly conservative course. To carry out its program, the junta has appointed three right-leaning foes of Allende: Raul Saez, who was made special adviser for overall economic planning; Fernando Leniz, who became Economics Minister; and Orlando Saenz, adviser to the Ministry of Foreign Affairs...
...mines, but it is willing to negotiate at least partial restitution to the U.S. firms and invite them to return to help operate the mines or develop new ones, perhaps as minority owners. Says Saenz: "We will do anything necessary to have first-class advice on copper." The junta also aims to attract new industry, for example electronics producers...
...high jobless rate. To blunt the inflationary impact of the artificially swollen money supply-Allende had simply printed more and more currency-the new government devalued the escudo by 58%. That action severely chopped into the buying power of all but the wealthiest consumers. In addition, the junta has largely scrapped Allende's heavyhanded controls on prices, which were kept so low in relation to costs that farmers and businessmen let production plummet for lack of a profit incentive...