Word: schiller
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West Germany, which still does not recognize Ulbricht's government diplomatically, is all in favor of stepping up trade. Economics Minister Karl Schiller last month urged West German businessmen to attend the Leipzig Fair. Bonn later adopted a Schiller proposal for expanded credit guarantees to West German firms trading with East Germany. Finally, Bonn has put off for a year-until June 30, 1968-the repayment deadline for some $100 million in trade deficits already owed by East Germany...
...Bonn conference room crowded with bankers, aides and newsmen, Krupp sat silently while Socialist Economics Minister Karl Schiller spelled out what he called "a brave step that will remove unrest" about Krupp's future. In mid-April, the firm must appoint an "administrative council" of private but non-Krupp businessmen who will vote on all major management decisions. By the end of 1968, Krupp will be transformed into a public company, possibly some sort of foundation...
Banker's Rights. Schiller's move was the price extracted by the Bonn government and a group of West German banks for providing the financing that is urgently needed for $250 million worth of export orders that Krupp has on its books. The company's troubles began last year when Krupp, already suffering from the depressed coal market and declining prices for steel, which accounts for 30% of its total production, began grasping for export orders so as to keep its 100,000 loyal Kruppianers at work...
...economy, Bonn's Bundesbank last month lowered the country's bank rate from 5% to 4½%, last week reduced it to a flat 4%. Though he welcomes such stimulants as "the first signs of a change in the economic trend," West German Economics Minister Karl Schiller cautiously adds that "there is no reason for hasty optimism...
...ultimate concern is that waste will end in consuming basic resources. It is an insistent theme of conservationists, but it does not presently worry serious economists. Herbert Schiller of the University of Illinois speaks for most of his colleagues when he says flatly: "We won't be overwhelmed by the disaster aspects of waste." Not only is the U.S. constantly developing substitutes (aluminum for iron, oil for coal, synthetic fabrics for wool), but detection and discovery techniques have so greatly improved that the reserves known to be available are actually larger than before...