Word: schmidts
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Dates: during 1970-1979
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...than its European neighbors. Like the rest of the export-oriented European economies, it was hard-hit by the downturn in world trade and the quadrupling of oil prices in 1973. Nevertheless, while an 8.5 per cent rate of inflation and a 6.5 per cent rate of unemployment earned Schmidt sharp criticism from the right and the left, these figures were downright enviable compared to the double-digit inflation and widespread unemployment of other Western nations, including the United States. Replacing the disgraced Willy Brandt, Schmidt immediately clamped down on inflation: his monetary policies were so strict that the German...
German economists are happy to point out that moderate wage demands on the part of German labor unions paved the way for Schmidt's successful fiscal and monetary policies. Unlike British, French, or Italian labor unions, German labor unions practice a remarkable degree of cooperation with corporate management and do not regard government as an adversary...
Continuing the more independent and assertive diplomatic line laid down by his predecessor, Schmidt has not hesitated to mount the continental political stage. Intelligent, forceful, and pragmatic, Schmidt has already become the leading European statesman. Despite international mutterings of "Iron Chancellor" and the "Germany of old," Schmidt has not hesitated to use German economic muscle to safeguard German interests. He has warned the European Economic Community that Germany would no longer provide open ended funds to subsidize poorly conceived Community projects or stagnant, obsolete economic sectors of other countries. "Germany," according to Schmidt, "will no longer be the 'milch...
...Schmidt has been successful in irritating each and all of his European partners, it should also be pointed out that European unity is a key concern of the Bonn government. Many convinced Europeanists hoped that the growing entente between Giscard d'Estaing and Schmidt would give way to a discreet Franco-German directorate that would carry the idea of European unity beyond its present customs union status. Unfortunately, Schmidt lost his partner less than six months ago. Giscard d'Estaing's pro-European ideas were fiercely opposed by conservative Gaullists, ever so jealous of French sovereignty. Depending on the Gaullists...
With 31 Soviet divisions on the German border, Bonn is understandably concerned with security. Here, the vital German-American relationship has changed in style but not in substance. Both Brandt and Schmidt have pursued policies more independent from Washington than either Adenauer or Erhard. For example, harsh words were exchanged between Bonn and Washington during the 1973 Arab-Israeli conflict. On the one had, Brandt was irritated by Washington's failure to consult its Allies during the conflict; on the other hand, Washington criticized West European refusal to provide the American airlift with logistical support. Washington added that developments...