Word: payments
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Dates: during 1970-1979
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BELGIUM. As in France, there is a two-tier foreign exchange market that makes speculation in the Belgian franc expensive. Banks cannot increase their lending to nonresidents above the level of last March 9, and there are restrictions on payment of interest on some foreign-owned bank accounts...
...where many other cities have grown disillusioned with their downtown business districts-in spite of all the new civic centers, office buildings, freeways and other signs of progress-Atlanta, which in 1970 became 51% black in population, seems determined to use the first round of renewal as the down payment on a second, even bigger round in the '70s. Moreover, the courtly businessmen and politicians who engineered the city's renaissance a decade ago are rapidly turning over their jobs to a group of men in their 30s and 40s, who should be around to oversee new rounds...
However, the Nixon Administration wants to hold off any real progress on monetary reform until after the presidential election and perhaps longer, depending on the U.S. balance of payment outlook. Many Europeans feel that they will be in a stronger bargaining position when the Common Market's monetary union, now just in its infancy, be comes more powerful. The danger in continuing to delay basic reforms is that both sides will keep on meeting each mini-crisis by tacking on still more restrictions on the international movement of capital, ultimately damaging world trade, tourism and investment. Last week West...
...Western boycott of its newly acquired oil, and loss of oil revenues that approach $1 billion annually. Even so, the government may still be in difficulty. The French could insist on taking oil as compensation for their investment in I.P.C., thus paying nothing for it; or they could offer payment in goods-chiefly heavy equipment-tagged with artificially high prices...
...Almost daily," he said, "there are new infringements on the way we practice, intrusions by government and by other third parties. Almost daily there are attacks on our methods of practice, on our methods of payment, even on our motives and lifestyles. And always there hangs over us the looming specter of a massive government health program...