Word: peseta
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Dates: during 1980-1989
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...mood. There is a certain dose of optimism in the country based more on realism than on false expectations. At the risk of some unpopularity, the government has carried out a policy of dealing with real problems, even with a certain amount of harshness. Our devaluation of the peseta and the increase in gasoline prices are examples. This approach has not been unpopular. Quite the contrary: what would be unpopular would be to tell the country the opposite of what is really happening...
...agreement with unions and industry on a target increase of 8%. We are also managing to stem unemployment, but this is probably due less to the merits of the government than to the fact that the industrial crisis has touched bottom. I think that the way the peseta has been holding its own in relation to other European currencies is reassuring. I'm not referring obviously to the dollar, which is going through the clouds. We have made great efforts to contain the budget deficit, which gives us hope from the macroeconomic point of view...
...trade deficit are likely to become even more acute. European nations like France may have to devalue their currencies further or simply allow them to weaken so that these nations can help their sick economies while protecting their domestic markets from cheap imports. In Spain, for instance, the peseta fell to a historic low against the dollar last week, and the new Socialist government is expected to let it continue falling. The U.S. will suffer even more if its economy gets out of sync with the rest of the world. Should business and consumer spending pick up quickly...