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Brazil has the dubious distinction of being the largest international debtor in the developing world; the country's public institutions and private businesses owe an estimated $87 billion to foreign creditors, $67 billion of it to banks. As TIME's Board of Economists met last week, some were fearful that the cash-strapped South American nation would default, an event that could shatter the increasingly fragile international banking system. The possibility sent world financial leaders scrambling to prevent a crisis...

Author: /time Magazine | Title: Back from the Brink | 12/27/1982 | See Source »

...Musberger believes that universities do owe something to an athlete. "Oklahoma owes it to him that he knows how to talk contract," the Northwestern University graduate stated Major college football players will never do anything as well as they block, tackle or catch passes. Musberger said, adding that a university's responsibility is to give athletes the basic education they need to carry on their careers...

Author: By Mike Knobler, | Title: Take the Money and Run | 12/15/1982 | See Source »

...over the place. The two former astronauts owe their high "name recognition" in good part to TV, and Borman helps keep his alive with TV commercials. lacocca also gives himself heavy exposure as TV pitchman; it is an expressive face, an appealing tough-guy personality and, who knows, if he could pull Chrysler out of the hole, save American jobs ... The president of CBS is an unknown face, but any heir apparent who can avoid being fired by Bill Paley has undeniable political talents...

Author: /time Magazine | Title: The Presidency: Job Specs for the Oval Office | 12/13/1982 | See Source »

...Never owe anybody anything-my mother always told me that." says Bachelor Walter Sala, 70. "When they bury me, I'm even with the world." That includes the U.S. Social Security system...

Author: /time Magazine | Title: No Deadbeat | 12/6/1982 | See Source »

...ready to improve relations with the U.S., but we don't think we owe you anything or that preconditions should be put to us by American leaders, including Secretary Shultz. We don't have to prove first that we are good boys, and only then will you be kind enough to talk about normalizing relations. You demand from us that we yield at the Geneva arms talks, at Madrid, over human rights, Afghanistan and Poland. We could make a similar menu of demands to the U.S. as a precondition...

Author: /time Magazine | Title: You Americans Make It Difficult | 12/6/1982 | See Source »

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