Word: moneymen
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...drift downward accelerated and the pound fell below the psychologically sensitive $2 mark. The basic cause was economic disarray in Italy and Britain, which have the highest inflation rates among major European countries. The declines immediately made the goods of both countries cheaper in world markets, and moneymen began selling francs in the belief that the French government, which is struggling with a 10% inflation rate, would have to let their value fall to keep French exports competitive...
...people-and a high birth rate -the country is desperately poor. Despite a cash transfusion of $1.2 billion this year from Saudi Arabia, Kuwait and Qatar, Egypt will probably end 1975 with a $500 million deficit, raising the possibility that the country might default on its debts. The Saudi moneymen, moreover, are not happy-or think it impolitic to seem happy-about Egypt's signing of the Sinai accord, and they are likely to be less generous in the future...
Fear of Flying. The Israeli moneymen seem to have won their point, and the Ford Administration was preparing to offer a great deal (see box page 24). "To state it crudely," TIME'S Jerusalem bureau chief Donald Neff cabled, "it appears that since the U.S. cannot negotiate peace in the Middle East, it will...
...desperate economic woes. The usually circumspect Bank for International Settlements, a Basel-based central bank for central banks, issued a blunt report that faulted British authorities for their "not very successful" attempt to cope "with a situation deteriorating on several fronts at once." The infectious gloom of the Basel moneymen spread to the London stockmarket, killing any hopes for an upsurge in the wake of the pro-Market landslide. The day after the B.I.S. report was issued, there was a rush of Arab petrodollars out of London and the pound fell to a record low, 25.9% below the Smithsonian-agreement...
...Foreign moneymen have hope that the dollar may be nearing the end of its decline-especially if prospects for an upturn in the U.S. economy continue to improve. But nobody expects a strong rebound, much less a return to the robust exchange rates of the 1960s. Too many dollars spilled out by years of U.S. international deficits are still sloshing around the world, and as long as that continues, the once mighty greenback is likely to remain an invalid abroad...