Word: lira
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Dates: during 1960-1969
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...been happening to their economy lately: sboom. An s placed before certain Italian words turns them into their opposites, and "unboom" just fits the bill. When Italy's postwar economic miracle suddenly began to fade last year, the sboom set in. Last winter and into the spring, the lira wobbled and fled the country in uncounted millions. The stock market dived, and inflation rampaged. Italy's economy, further unsteadied by continuing political crisis, looked sick indeed...
...billion deficit last year to a surplus of $535 million for the past five months. At the same time, Parliament acted to curb the national passion to buy on credit by passing a law requiring 25% down and two-year terms on installment purchases. Best of all, the lira has been revivified...
Last winter, amid official predictions of a mounting trade deficit and some foreign talk of devaluation, speculation against the lira gripped European currency markets. The panic subsided when the U.S., the International Monetary Fund and European central banks granted $1.2 billion in credits to shore up the Italian economy. In the last year, the lira has gained slightly against the pound, lost only 4/10 of 1% to the dollar. But Italy's economy still faces a tough and crisis-ridden fall. Whether it survives in good shape depends largely on whether it can check its upward wage spiral...
...rose is off the boom in Italy, where a dizzy round of high living, heavy imports and inflation has stalled the nation's fast postwar growth. The Milan stock market has dived, the lira has been trembling on world markets, and two weeks ago the U.S., the International Monetary Fund and the World Bank backed a $1.2 billion emergency loan to shore up the Italian economy. Last week, after the Italian Senate approved a stabilizing program that restricts installment-buying and raises taxes on cars and gasoline, automaking Fiat and Innocenti threatened to fire thousands of workers. Olivetti also...
...back any time-by paying a $5,000 fine, a $5,000 import duty and a $10,000 redemption fee. But since the car cost only $9,800 new, the American operatic soprano is having none of it. "I'm planning not to pay one lira of that fine," she told reporters. "I've got lawyers working on it. I'll take this as high as I have to." Meanwhile, sighed Anna conlamenti, "I've bought a bicycle...