Word: rying
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Dates: during 1970-1979
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Foremost among the issues was the proposed European monetary system, which came under the scrutiny of the Community's Finance Ministers in Brussels last week. Devised by West German Chancellor Helmut Schmidt and French President Valéry Giscard d'Estaing to insulate Europe from fluctuations of the dollar, the plan had won approval in principle at a Common Market summit in Bremen last month, and had been presented to President Carter and other leaders of the industrial West at the subsequent Bonn summit. British Prime Minister James Callaghan, however, remained cool toward the idea. In the first place, the British?...
...forming a monetary union. Each time, attempts at linking national currencies were abandoned as premature because of widely different rates of inflation and economic growth within the European Community. The foundering dollar, though, has overshadowed these objections. Spurred by West German Chancellor Helmut Schmidt and French President Valéry Giscard d'Estaing, the Common Market is moving rapidly and seriously toward a new monetary scheme that would stabilize currencies of the nine member nations and thus enhance trade among them. It would also distance members from the influence of the weakening dollar and create a rival reserve currency...
...Britain's James Callaghan, who faces elections in the fall, was the most cautious. He pledged only to continue his present policy of expanding output by a modest 1 % while keeping up the fight against inflation, now down to 7.4% from 27% four years ago. President Valéry Giscard d'Estaing promised to pep up the French economy a bit by more government spending, doubling the nation's deficit to $4.4 billion this year...
Schmidt is likely to be an equally loquacious host in Bonn. Strengthened by the results of last March's parliamentary elections, French President Valéry Giscard d'Estaing also has been exercising more clout. The team of Schmidt and Giscard, in fact, has raised worries among the others about an emerging "EC directorate" composed of the Community's two most powerful members...
...spokesman for President Valéry Giscard d'Estaing called the bombing "a deplorable injury to an essential part of the French heritage." Indeed, the chateau that was once the residence of the Bourbon kings is now one of France's major tourist attractions. Ten galleries displaying some of the country's greatest art treasures were damaged. A huge hole gaped in the floor of a hall devoted to art of the Napoleonic era. Chandeliers lay in a carpet of crystal shards. Rare Louis-Philippe furniture and exquisite ornamental paneling were reduced to matchsticks. Busts...