Word: muniching
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...visitor to West Germany might logically assume that cheery, beery Munich, with its renowned art galleries and swinging student quarter, or perhaps the hothouse glitter of West Berlin, might offer the most congenial milieu for artists. Hardly anyone would think of busy Düsseldorf, a conglomeration of shimmering steel-and-glass office buildings on the Rhine that epitomizes the commercial hubbub of the Wirtschaftswunder. Nonetheless, the lion's share of West Germany's most adventurous artists today find in Düsseldorf just the setting they need. Says Munich's grand old man of art, onetime...
...increased by almost half, their industrial output by two-thirds, their gold and foreign exchange reserves by 100%. Thousands of European firms have merged to take advantage of the market of 180 million that the European Economic Community has created, sending Volkswagens to Belgium, French cheese to Munich, Chianti to Holland, Dutch chocolate to Milan, in a great, borderless swirl of what were once national products...
Appeasement in Munich. Indeed, France and the U.S., the chief protagonists in the long battle, are scarcely playing in the same key. The U.S. has been pressing for quick creation of a new international currency-"paper gold"-as the best way to finance expanding world trade and keep free-world economies prosperous. In the past two years, there has been no growth of world money reserves needed for those functions. Last year, for the first time in modern history, the store of gold in the free world's central banks actually dwindled (by $100 million), as private hoarders bought...
...French argue that the international money plan would be a mere device to help Britain and the U.S. dodge the consequences of their persistent balance-of-payments deficits. Two weeks ago at Munich, to the consternation of U.S. officials, the French swung the other Common Market Finance Ministers to the restrictive Gaullist recipe for monetary reform: larger credit facilities through the IMF. To achieve that, France merely dropped its two-year opposition to devising any contingency plans at all and its generally unpopular demand to study whether the price of gold should be raised. Comparing the Six's action...
...APPOLDT Munich...