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Meanwhile, the leftward lurch continues. The island's new chief source of oil is the Soviet bloc, following the seizure of three U.S. and British firms (Esso, Caltex, Burmah-Shell) and the creation of a government oil combine. The Western companies have not been paid a cent for their properties worth $29.5 million; as a result, the U.S. has canceled further economic aid to Ceylon after doling out a yearly average of $7.5 million over the last decade...

Author: /time Magazine | Title: Ceylon: Leftward Lurch | 1/17/1964 | See Source »

...levelheaded stability has emerged to touch the economies of most free nations, even those that have not yet fully learned all the lessons of economic discipline. That stability enabled them to weather, with no more than a momentary flutter, crises that ranged in 1963 from outright revolutions and strong leftward shifts in government to Charles de Gaulle's rude exclusion of Britain from the Common Market and the assassination of the U.S. President...

Author: /time Magazine | Title: International Economy: A Steady Performance | 1/10/1964 | See Source »

Insults & Invitations. Although it bills itself as nonpolitical, the Colombo club has strengthened some anti-Communist positions, but its ranks abound with "neutralists" and leftward-drifters. Indonesia, which stubbornly fights the new Federation of Malaysia, a Colombo partner, on the ground that it is a front for British "neocolonialism," used the Bangkok conference to snap insults at the new state. Cambodia's petulant, neutralist Prince Norodom Sihanouk boycotted the conference because of his antagonism to the host country, strongly anti-Communist Thailand; he also announced that he wanted no more U.S. aid, would kick out all U.S. military advisers...

Author: /time Magazine | Title: Asia: How Goes the Colombo Plan? | 11/22/1963 | See Source »

When Italy's center-left coalition was formed eight months ago, the crucial question was who would do what to whom. Would the apertura a sinistra ("opening to the left") pull the Christian Democrats and other center parties leftward? Or would the Socialist Party, long allied with the Communists, move toward the center...

Author: /time Magazine | Title: Italy: Opening to the Right | 10/26/1962 | See Source »

...down many a Red demonstration. Three seats, including the Ministry of the Treasury, went to Giuseppe Saragat's anti-Communist Social Democrats; moderate leftist Republicans received two portfolios, including the important Ministry of the Budget, which is responsible for long-range economic planning. To balance the shift leftward in domestic affairs, Fanfani kept on notable Christian Democrats in sensitive external affairs posts-moderate Foreign Minister Antonio Segni, a strong Common Market supporter, and rightist Defense Minister Giulio Andreotti, who is pro-NATO. The Nenni Socialists got no Cabinet jobs, but agreed to vote in parliament for government proposals they...

Author: /time Magazine | Title: Italy: Cautious Marriage | 3/2/1962 | See Source »

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