Word: londoners
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...composers, including America's Aaron Copland, Virgil Thomson and Roger Sessions; in Paris. Though a promising composer, she taught indefatigably for five decades and had great influence on such American-born artists as Classicist Roy Harris and Experimentalist Philip Glass. She was also the first woman to conduct London's Royal Philharmonic, New York's Philharmonic and the Philadelphia and Boston symphony orchestras...
Uncertainty envelops the figures because nobody has ever seen or touched these ''Eurodollars'' or any of the other ''Eurocurrencies.'' They exist only as bookkeeping entries at banks in such hot-money havens as London, Luxembourg and the Cayman Islands...
Eurocurrency began as an offspring of the cold war. After the 1956 Hungarian revolt, Soviet officials feared that the U.S. would seize the dollar deposits that Moscow had in New York City banks, so they transferred the cash to London. After moneymen began lending the state less dollars to companies in Europe, U.S. bankers and businessmen recognized a promising new source of capital. The lending of hard foreign currencies soon spread out from London. Among the first to handle such loans was the Soviet-owned Banque Commerciale pour I'Europe du Nord in Paris, which has the telex address...
Private bankers warn that attempts to regulate will fail. If Eurocurrency lending is regulated in London or Luxembourg, they say, it will only sail away to Singapore or Bahrain, where no controls are likely to be imposed. If the Federal Reserve restricts U.S. bank branches, borrowers will simply shift their Eurodollar business to foreign branches. Bankers also insist that these markets will be needed to lend the developing countries the $50 billion they will need over the next year to pay their oil and industrialization bills...
...they simply borrowed, say, dollars in New York or pounds in London, they would be forced to pay stiffer rates than for Eurocurrencies...