Word: krona
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...quickly followed Britain out of the European Monetary System. Meanwhile, the Spanish peseta was devalued by 5%, and Sweden (not a member of the European Community, but exposed to its economic winds) raised its overnight interbank lending rate to a towering 500% in a desperate bid to support the % krona. As the Germans resisted pressure for a further cut in interest rates, the French, Danish and Irish currencies all found themselves struggling at the bottom of their permitted exchange rates, and the European monetary system experienced its worst week ever...
...training, has been a kayak gypsy since she was 17. "It takes six to eight years to get really good," she says. She made the Olympic teams in 1976 and '80, supporting herself by lifeguarding, teaching school and selling handmade sweaters and caps. Every dollar and krona she has earned, she says, has gone into kayaking; "I've never bought a stereo...
...Nobel Prize carries a cash award of 1.15 million Swedish kroner, which until only a few weeks ago was the equivalent of $182,000. Since then the Swedish government, pressed by the rising value of the U.S. dollar as well as its own economic problems, has devalued the krona. When Stigler finally receives his award, he will actually get only about...
...thing, he is from Colombia, and Colombia has never had a winner. One of my many theories is that the Swedish academy picks the name of a country out of a ski hat and worries about finding a writer from there to shower with all those krona. One day Colombia will come up and Marquees will be it. Right now, though, he's just too young, Also, he spends too much of his time writing lefty journalism, In Stockholm, journalism in a dirty word, 14-1 on one of John "Here's some more Sophocles-at-Shea-Stadium" Leonard...
...unemployment and a projected trade deficit this year of $1.7 billion, felt forced to impose a $1 billion tax increase. Sweden, expecting a $3.6 billion balance of payments deficit by year's end and struggling with an annual rate of inflation at about 16%, last week devalued the krona by 10%, and is considering other austerity measures. The country also pulled out of the European monetary "snake," the collection of currencies tied to the West German mark, because Stockholm wanted to devalue the krona much more than snake rules allow. Because their economies are closely tied to Sweden...