Word: petros
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Dates: during 1980-1989
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...Barclay perform two vital and interrelated functions. Operating largely from London's money center, the big financial institutions have first of all provided a safe and secure place for Croesus-rich oil exporters, particularly Kuwait, the United Arab Emirates and Saudi Arabia, to park their unspent petro-profits, which by now amount to over $90 billion. The security and peace of mind that comes from feeling that their money is safe in these banks have been crucial factors in encouraging oil sheiks to go on pumping and selling more crude than they really need to. This in turn...