Word: lire
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Warning from Lenin. Another vital issue was currency convertibility-the tricky problem of how to make pound notes, dollars, lire and kroner freely exchangeable. There were strong voices for it, notably Britain's Butler and West German Economics Minister Ludwig Erhard, the man who has done most to spark Germany's industrial boom. Erhard warned: "The word of Lenin, that you just have to destroy the currencies of capitalist countries to make them ripe for Communism, should cause all democratic countries to stop and think . .." The conference agreed that one day soon, convertibility is inevitable if Europe...
Still No Jobs. Back home in Naples last week, Merlino and Faticati were jobless and their children were still hungry. Merlino's wife, who takes in washing, had piled up debts of 150,000 lire ($240), which is big money in their neighborhood, and his eldest son was in jail for mistreating her. But there was one matter the two proletarians could attend to: they dropped by the local Communist Party headquarters and turned in their cards. "Look what has happened.'' Merlino told his old comrades, "because I listened to your trash. I just want to work...
Last week added grief came to Gabriele Mussi. The radio announced that No. H-64306 had won first prize of 50 million lire ($80,000). How could Gabriele prove that the winning number was rightfully his? He appealed to the film company for help. With 300,000 postcards to riffle through, and the added likelihood that Gabriele's stampless card had not arrived at all, the film people refused...
Black Memories. Prison officials gave Carlo a new suit, shoes, shirt, and a tie which he found he had forgotten how to knot. For his labor during his 19 years, one month and 28 days of imprisonment, the warden handed him 10,360 lire (about $16). Italian law gave him no other claim against the government. "I'm as poor as Job," said Carlo. "I must find work." Back in Marzano di Nola last week, Carlo greeted his relatives but refused to stay. "I want to get away from these black memories," he said...
...help tide Turkey over its exchange shortage, the International Monetary Fund last week broke its rule limiting purchases of any nation's currency in a single year to 25% of that nation's quota. It bought $20 million worth of Turkish lire, 46.5% of Turkey's quota, in exchange for $10 million in U.S. dollars, two million British pounds and 18 million West German marks, currencies that Turkey has not been able to earn in trade...