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Ronald Reagan realized that a half-day summit with Mexican President Miguel de la Madrid last week could not begin to resolve differences between their two countries. So he used his four-hour stopover in Mexicali to drive home U.S. concern over Mexico's $96 billion foreign debt. The U.S. has been urging Mexico to cut government spending and increase private investment. De la Madrid told Reagan that Mexico was making "increasingly strenuous efforts," but was hampered by factors like the dropping world price of oil. The Mexican President seemed close to endorsing a plan by U.S. Treasury Secretary James...

Author: /time Magazine | Title: World Notes: Jan. 13, 1986 | 6/21/2005 | See Source »

...there was little progress on other bilateral issues. Reagan reiterated his concern over cross-border drug trafficking and his frustration with Mexico's backing of anti-U.S. resolutions at the United Nations and its support for Nicaragua's lefist Sandinista regime. De la Madrid reminded Reagan that the U.S. and Mexico must sometimes take separate paths. Said he: "Our political and economic reality cannot be identical." THE PHILIPPINES No More Mrs. Nice...

Author: /time Magazine | Title: World Notes: Jan. 13, 1986 | 6/21/2005 | See Source »

...modesty, promises to accelerate this year and endure well into 1987. And, thanks to falling oil and commodity prices, inflation is expected to drop further. That was the encouraging assessment presented by TIME's European Board of Economists at its twice-yearly meeting, which was held this time in Madrid to mark Spain's and Portugal's entrance into the European Community...

Author: /time Magazine | Title: Heading into the Straightaway | 6/21/2005 | See Source »

...countries will take on both the risks and rewards of in creased trade with their neighbors. For an assessment of what this change will mean for the economies of Spain and Portugal, TIME invited Jose Luis Leal, Spain's Minister of the Economy in 1979 and 1980, to the Madrid meeting of its European Board of Economists. His conclusion: Spain and Portugal might suffer a few short-run shocks from E.G. membership but would ultimately benefit. Leal admitted, though, that the two nations were "jumping into the unknown...

Author: /time Magazine | Title: New Members of the Club | 6/21/2005 | See Source »

...Well, it looks like they've pulled it off," said one Western ambassador in Madrid as a wide smile spread across his face. There were similar signs of relief around Europe and in Washington last week after Spanish Prime Minister Felipe González Márquez achieved a remarkable turnaround in public opinion and won a referendum that will keep Spain in the North Atlantic Treaty Organization...

Author: /time Magazine | Title: Spain: A Stunning Win for NATO | 6/21/2005 | See Source »

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