Word: schmidts
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...summit did serve that purpose. Ford, who is at his best in small groups, enhanced his status as a world statesman last week by playing the charming and well-briefed host to British Prime Minister James Callaghan, French President Valery Giscard d'Estaing, West German Chancellor Helmut Schmidt, Italy's lame-duck Premier Aldo Moro, Japanese Premier Takeo Miki and Canada's Prime Minister Pierre Trudeau...
...fellow leaders to commit themselves to a go-slow approach to recovery. That is scarcely a policy that entrances voters. As Treasury Secretary William Simon put it: "Preaching moderate growth is like trying to sell leprosy." But Ford had a powerful ally in West Germany's Schmidt, a former Finance Minister who believes that combatting inflation should be the No. 1 priority among the industrialized democracies. By,contrast, Britain and Italy, which are lagging behind in the recovery, would still like to achieve U.S. and German-style growth rates as a means of reducing their unemployment...
...started the discussion. The leaders were flanked by their Foreign and Finance Ministers, but the aides did not speak unless invited. Usually a leader would raise his hand to signal his desire to speak, and Ford would recognize him. But Canada's Trudeau and West Germany's Schmidt, both highly forceful types, often interrupted in English...
Hard to Take. The commotion over the decree indicates how sensitive Bonn's neighbors are to any possible sign of new authoritarianism in Germany. The uproar further betrays a European envy of Germany's healthy economy and stable politics and an annoyance with Chancellor Helmut Schmidt's penchant for lecturing other countries about their internal problems. Observed Luxembourg's liberal Premier Gaston Thorn: "One looks at West Germany, and one recalls that this was the country that started two world wars, lost both, and is now 'No. 1' in Western Europe; this...
...government could try to shrink the value of the mark, by having the Bundesbank sell deutsche marks for other currencies. But with Chancellor Helmut Schmidt running for re-election in October, such a move is improbable: it would irritate voters by reducing their ability to buy foreign goods and add to European dissension. More important, such a move would anger Germany's trading partners. Anyway, it might not succeed: in these days of free exchange markets, whenever a currency weakens, speculators sell it and buy Swiss francs or deutsche marks. So Germany will probably keep on struggling with...