Word: lira
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...inhabitants of the Oval Office. Covering Saigon at the time of NLF victory, when Nixon was gone, Thompson seemed trivial, almost offensive. At the same time the presidential tapes were revealing that H.E. and P. even talked like Thompson ("Take Pat Gray out and shoot him (laughter)"; "Fuck the lira, there's no votes in that"). But his day was done...
...governments. Since then, the situation has improved dramatically. Italy's balance of payments deficit narrowed from $4.5 billion in the first half of 1974 to $493 million in the same period this year, inflation has been more than halved (to an annual rate of 10%), and the lira is holding steady. The main reason: tough measures dictated by Carli, including a tight credit policy (interest rates up to 20%), higher taxes and fuel prices, and temporary import restrictions...
...Milan stock market record its largest single-day drop since a government collapse coincided with a slumping market 15 years ago. Gianni Agnelli, chairman of Italy's giant Fiat automotive empire, warned that the results would "push us farther away from the Western world." Speculators sold the lira short. Moviemakers, many of whom are radical chic Communist voters, fretted that Western cinemoney would...
...taxes pumped up beef prices 24%, to $3 per lb., but the desired end was achieved; the amount of meat eaten by Italians dropped 35%. By early this year, total imports had fallen 13.8% below a year earlier, while exports rose 29.2%-helped by a 20% devaluation of the lira, which is now holding steady at roughly 625 to the dollar. A fierce tightening of credit that sent bank prime rates as high as 20% or more cut deeply into new loan demand by the private sector, but freed money for paying off Italy's monumental debt. Since last...
...sold for profits of 500%. Many of the builders who bought the land dutifully filed for construction permits. But after months, even years, of waiting in vain for the creaky bureaucracy to move, most went ahead without permits and broke ground, confident that bustarelle -little envelopes stuffed with lira notes -would forestall any action by the city. Even when more conscientious officials discovered the wrongdoing, nothing happened. Over the past four years, Rome's Mayor Clelio Darida signed 8,000 orders for the demolition of illegal buildings. But when the time came to deprive residents of their homes...