Word: pound
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Dates: during 1970-1979
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...Firm Evidence. On the more mundane penny and pound level, the pro and con arguments seem to consist, as Tory Shadow Foreign Secretary Reginald Maudling put it, "of diametrically opposed conclusions drawn from the same inadequate facts." Pro-Marketeers, rather indifferently led by Prime Minister Harold Wilson, himself a convert to that position, argue that continued membership will lead to more jobs and lower food prices for Britons. Anti-Marketeers on both far right and far left say that it will lead to fewer jobs and higher food prices. And an exhaustive study by the National Institute for Economic...
When he returned to Britain recently after a fortnight's absence in Washington and Jamaica, Prime Minister Harold Wilson had little cause for cheer. As last week began, the pound fell to its lowest level ever against the currencies of all Britain's major trading partners, down a disastrous 24.9% from the Smithsonian Agreement level of 1971. Any sharper decline would give the nation's already soaring inflation rate of 30% an explosive new thrust. Labor Cabinet members were warring openly over economic policy and the Common Market referendum, and a rash of strikes had slashed output...
...Israel in recent months has been longstanding if less severe economic isolation; the Jewish state belongs to no trade bloc in which it can sell its products under low tariffs, a fact that aggravated a $3.5 billion trade deficit that last year forced a 43% devaluation of the Israeli pound. But in Brussels last week Israel achieved a significant breakout from its loneliness. The nine-nation European Economic Community signed an agreement that greatly reduces tariff barriers on sales of Israeli goods to the Common Market and assures Israel there will be no arbitrary cutoff of supplies of such essential...
...nation might muddle through one more time: Britain is in the position of the debtor whose creditors can ill afford to force him under because they would lose too much in the process. For example, if oil-rich Arabs started withdrawing their huge deposits from London, the pound would skid much further, thus diminishing the value of the Arabs' sterling holdings before they could convert them to some other currency. But the dependence on foreign money is not only humiliating for the nation that was once the world's greatest financial power, it is risky in the extreme...
...secrets, he confided, is to eat and make love with equal ardor; although figures differ, Halpern averred that sex on the average consumes 100 calories per minute. On disembarking with his Japanese wife, le docteur observed happily that in the course of the cruise he had shed one pound...