Word: lire
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What Europe needed was a good local bank, to issue loans, cash IOUs and convert one man's lire into another man's pounds. Marshall Planner Paul G. Hoffman proposed the European Payments Union (EPU), to do two things: 1) "liberalize" European trade by curing its ancient plague of import quotas and exchange controls; 2) act as a central clearinghouse through which the 18 Marshall Plan countries could make all their trading payments. The U.S. put up $350 million to get the bank started; 18 members opened accounts, and EPU was in business, with a two-year lease...
...strikers. As the air below grew staler, officials from three unions were deep in consultation with the mineowners up above. The unions agreed to accept the government expert's word. The company agreed to suspend all dismissals for a month, to grant severance pay of 200,000 lire ($320) to anyone quitting voluntarily, and to give six days' holiday pay to all the strikers. At week's end, after 40 days in the darkness 171 squinting miners climbed out at the shaft head. "It turned out better than we expected," said...
...Italian actors. But Italian producers think that Americans will become used to dubbed-in English, just as Italian audiences have become accustomed to dubbed-in Italian in U.S. films. Ironically, Hollywood is paying for the dubbing. Last year, in return for releasing half of Hollywood's frozen lire, Italy persuaded U.S. film makers to kick back 25% of the thawed money to finance a new agency, Italian Films Export (I.F.E.), which has received $1,200,000, is using it to finance the U.S. invasion...
...Unità, and last week he won it. Two L'Unità writers and the paper's assistant director sheepishly told a Rome tribunal that they meant "no reflection on Mr. Stern's professional honor." The court ordered the paper to pay 500,000 lire ($800) in damages, plus 350,000 lire ($560) in costs and fines...
...show, the Biennale. It might be weeks before the critics finish their trend-spotting (the show contains 3,600 entries) and decide on the most noteworthy new discoveries. In the meantime, the Biennale's judges made some choices of their own, awarded top prizes of 1,000,000 lire (about $1,600) in each of four fields.The winners...