Word: kohl
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...would probably have dwelt on the problems caused by high U.S. budget deficits and interest rates. Reagan was offered some protection from criticism by the implicit protocol of such conferences, in which members refrain from trying to dictate specific internal policies to other participants. Neither West German Chancellor Helmut Kohl nor Mitterrand pressed for any direct steps to tackle the problem of high interest rates. "I'm not here to give anyone lessons," said Mitterrand diplomatically, "but the results of continuing high budget deficits should be obvious." Instead, the leaders merely endorsed Reagan's emphasis on fighting inflation...
...West, ideology stands as the principal stumbling block to the adoption of loosely planned economics. For Reagan, Britain's Margaret Thatcher, and to a lesser extent West Germany's new chancellor Helmut Kohl, such a policy stinks of socialism. Yet the "isms" of yesterday seem particularly irrelevant today. Socialism in the East is bankrupt: people are not adequately fed, housed or provided for, Western capitalism seems equally out of breath, insensitive to the cost in human terms of successive crises. The future lies in a break from the constraints of ideology and the embrace of a new, non-sectarian system...
...foretaste of what may be in store at Williamsburg came last week from French President François Mitterrand. At a press conference following a meeting with West German Chancellor Helmut Kohl, Mitterrand lashed out at American economic policy and complained that "it is not normal for the U.S. budget deficit to be paid by us in Europe." His meaning: U.S. shortfalls are the prime cause for continuing high international interest rates; these, in turn, could squelch the hesitant economic recovery in Western Europe. As a side effect, the level of interest rates has powerfully augmented the value...
Mitterrand's outburst was an embarrassment to Chancellor Kohl, who prefers, as he put it at the same press conference, "to talk with friends and not at them." Nonetheless, concern over U.S. economic policies now appears to be endemic among all the allies. Canadian Prime Minister Pierre Trudeau has publicly cited the U.S. deficit as a contributor to "destructive" international interest rates, and so has British Chancellor of the Exchequer Geoffrey Howe...
Unlike at Versailles, where Reagan often found himself in a minority on East-West issues, at Williamsburg he should have comfort in numbers. Three of his fellow leaders - British Prime Minister Margaret Thatcher, Japanese Prime Minister Yasuhiro Nakasone and West Germany's Kohl - share many of Reagan's economic and social philosophies. The others -Mitterrand, Trudeau and Italian Prime Minister Amintore Fanfani - lean more to the center and the left...