Word: mikhail
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...longer. Now, Soviet leader Mikhail Gorbachev announces major policy initiatives to the press on a daily, rather than a quintannual, basis. Eastern European nations are stumbling over each other to declare their independence--witness the recent resignation of the entire East German Politburo. At this torrid pace, the Communist Bloc will soon generate more headlines than the Jane Pauley-Today Show feud...
...when the breathtaking events of 1989 are assessed, hindsight is unlikely to dilute the amazement of the moment. For suddenly, amid a barrage of headlines that a year ago would have seemed unimaginable, the architecture of Europe is being redrawn and the structure of international relations transformed by Mikhail Gorbachev's redefinition of Soviet security...
More important, the Soviet Union has a glut of cash, a so-called monetary overhang, which has ballooned under Mikhail Gorbachev because the Soviet government has run increasingly large budget deficits to maintain social peace by subsidizing prices for essential goods and services. The government prints more money to cover the gap, which in a free-market economy would increase inflation. But under the severe price controls of a command economy, the money has no place to go but under the mattress. Jan Vanous, research director of PlanEcon, a Washington-based consulting firm, estimates that...
...economic arrangements that have guided East bloc relations since 1945, the first impulse is to check its force on the Richter scale. But the next task, the part where the debris must be cleared away and planners must construct something new, has not been addressed. No one -- not Mikhail Gorbachev, not George Bush, not any of the bloc's reform-minded leaders -- has presented a blueprint for the future of the Continent as a whole. Will Gorbachev's "common European house" mean political as well as economic integration with the West? Will the Warsaw Pact remain intact? Will...
...Union. It frees Moscow from expensive policing operations and could head off, in Eastern Europe, the sort of protests that plague many of the Soviet republics. East Europeans are far less concerned about a Moscow-initiated crackdown than about a heavy-handed backlash from within the bloc. So is Mikhail Gorbachev. If Czechoslovakia were to launch an anti-opposition campaign, warns Bromke, "it would undermine Gorbachev's prestige at home and in the bloc and make it more difficult for him internationally...