Word: lira
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Dates: during 1970-1979
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...concrete form by dumping dollars and buying gold. In short, they were voting with their money. "We were waiting for an energy program, and the exchange rate reflects the absence of one," commented Leonida Guadenzi, vice president of the Milan Exchange, where the dollar fell sharply against the Italian lira. Added one Milan trader: "When Carter speaks, the dollar plummets...
Ecevit, who only a few months ago was boasting that "Turkey will depend solely on her own resources," last week bowed to fiscal realism. He agreed to a demand by the IMF that the lira be devalued by a whopping 70%. Devaluation should restore Turkey's credit with the international banking community, clear the way for billions more in aid, and improve the country's balance of payments by making its exports more competitive. But the move will make life even more miserable than ever for the average Turk, who must cope with an annual inflation rate...
...Premier had many reasons for wanting early elections now. Although 1.7 million Italians are out of work and inflation (annual rate: 12.9%) remains high, Andreotti's policies have helped stabilize the lira and brought the economy to the verge of a new boom. In 1978 Italy piled up an impressive $6.4 billion balance of payments surplus and increased exports by 10%. Says an aide to the Premier: "In the last three years, we put through more constructive legislation than all the governments of the past 15 years put together." The Christian Democrats hope to regain the support of disillusioned...
...native of New York who moved to San Francisco as a financial analyst in 1969 and later opened a successful camera shop, had been very frank about his homosexuality. At his swearing-in ceremony as supervisor last January, after other officials had introduced their wives, he had presented Jack Lira, 24, as "my lover-my partner in life." Lira committed suicide three months ago in a state of depression. In the remarkable tape recording predicting that he might be killed, Milk urged that if it happened, other gays should "turn that anger and frustration and madness into something positive...
...dollar sank and sank, in five days establishing four successive post-World War II lows against the Japanese yen. To Washington's alarm, the dollar fell not only against the strong German, Swiss and Japanese currencies but also against some of the world's weakest moneys?the Italian lira, the Spanish peseta, even the Canadian dollar, which earlier had fallen further and faster than its U.S. cousin...