Word: lira
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Dates: during 1950-1959
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...Rome in 1946 as a parliamentary deputy; a year later Luigi Einaudi, now Italy's President, took him into the Finance Ministry to help promote his hard-money policy. Pella took with him his boyhood concern for pennies and his businessman's love for the solid lira, and soon became De Gasperi's Finance Minister. To keep the lira stable, he fought tenaciously against many of his party who wanted vote-catching spending programs. Once, in 1951, he resigned rather than give in, bringing the government down with him. De Gasperi formed a new Cabinet and persuaded...
...Lira-Pinching. As Premier. Pella has stuck to caution in domestic affairs and well-timed excursions into foreign affairs to build his popularity in the country. Employing the almost forgotten wile of courtesy, he has so far won the support of the Monarchists and toned down enemies like Togliatti and Nenni. He still treats each lira as if it were the last of the species: he never uses the Premier's special railroad car, has dismissed his police-escort car, recently borrowed a tiny Fiat for a vacation trip instead of using his gas-greedy Alfa Romeo. With...
...tightening program, Britain's "free market" pound has risen from $2.35 in New York to close to the official rate of $2.80. West Germany's Deutsche mark has risen in value from 6? to around 22?, and is rivaling the Swiss franc for stability. Italy's lira, which sank as low as 915 to the dollar during 1948's fears of Communist election victories, is almost up to the official rate (625). The Benelux nations-Belgium, The Netherlands, Luxembourg-established such a good postwar export trade that their stable currencies did not even tremble during...
BECAUSE of a widening trade gap with the rest of the world, Turks fear the lira may be devalued. The government had hoped the gap would be filled by bigger wheat exports, but price-supported Turkish wheat is too expensive for the world market. In Istanbul's black market, the lira, officially pegged at 2.82 to the dollar, was down to 5.50 last week...
...liked our quarter," begins Valerio, the studious boy who tells the story. It was, he recalls, a place where everyone scrounged for an extra lira, where the houses rotted with age and children played on the stoops of brothels; yet Valerio and his pals, fired with adolescent hope and vanity, felt that somehow they would find life brighter than their beaten-down parents had managed...