Word: lira
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...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...
...should trim the U.S. trade deficit and bolster the dollar. Next day the dollar hit yet another record low against the deutsche mark, dropped against the Swiss and French francs, the Dutch guilder and the British pound, and even sank to a 31-month low against the weak Italian lira. The apparent reason: moneymen concluded that if this is all the hope Carter has to offer, the dollar is still in trouble. Confidence in the dollar has so eroded that it sometimes plunges sharply these days with no specific news at all to account for the drop...
...well as other currencies, and thus also help stabilize the dollar itself. Schmidt's proposal features two devices: 1) a so-called boa of currencies, which would have more leeway than the old snake to let weaker currencies, such as Britain's pound and Italy's lira, initially move up and down within a broader margin than the stronger currencies; and 2) a kind of "mini-IMF" of pooled reserves from which the members could automatically draw funds to support their currencies and deter speculation...