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...included a $285 limit on the amount of currency Frenchmen will be allowed to take abroad and a 1% income tax surcharge to help cover the $1.9 billion social security deficit. To many experts, the emphasis on "rigor" was strangely reminiscent of the policies of former President Valéry Giscard d'Estaing and his Premier, Raymond Barre, an approach that Mitterrand had harshly criticized during the 1981 presidential campaign...

Author: /time Magazine | Title: Europe: The Battle for the Franc | 4/4/1983 | See Source »

...machine running so smoothly, Chirac, 50, also boosted his chances of becoming the opposition's leading candidate in the 1988 presidential elections. Appearing before his supporters on election night, Chirac triumphantly declared, "The majority of Frenchmen have served an unequivocal warning to the government." Former President Valéry Giscard d'Estaing, who campaigned for the center-right, though he was not a candidate himself, said the next day, "France is breathing easier this morning...

Author: /time Magazine | Title: France: Message for Mitterrand | 3/21/1983 | See Source »

...good looks and dark curls that seem to stir women, Lang has ambitious plans for the arts in Socialist France. "Our goal," he says, "is to transform all of France into a cultural work site." The transformation of the budget has been dramatic. In 1981, under President Valéry Giscard d'Estaing, the Ministry of Culture received $500 million, or .47% of the national budget; this year the figure has shot up to $1.05 billion, .78% of the total (In contrast, Washington allocates only $500 million, or .06% of the federal budget, to the arts.) But Lang...

Author: /time Magazine | Title: France: Crusader for the Arts | 2/28/1983 | See Source »

...Mauroy points out proudly that inflation has been brought down to 9.7%, the first single-digit rate since 1978. Mauroy can also justly claim that he has "stabilized" unemployment at about 2.1 million, or 8.9% of the work force, vs. 1.66 million, or 7.2%, under former President Valéry Giscard d'Estaing. But the cost has been considerable. The French franc has lost 32% of its value against the dollar since the Socialists were elected in May 1981. The foreign trade deficit has increased about 50%, to $12.7 billion, and the accumulated foreign debt rose to an estimated...

Author: /time Magazine | Title: Local Affair | 2/28/1983 | See Source »

Under this theory the U.S.S.R. "pays" by cutting its land-based warheads in half, and its most potent ICBMs and its ballistic missile throw weight by two-thirds. But the Kremlin can then "buy" reductions in the menacing new weapon ry the U.S. intends to deploy later in the decade. For example, says Rowny, while the Trident II program will go forward in any event, the Soviets might face twice as many Trident II warheads without a START treaty...

Author: /time Magazine | Title: A Tougher Stand for START | 2/7/1983 | See Source »

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