Word: states
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Dates: during 1970-1979
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During the erratic presidency of Luis Echeverria, the system came closer to breaking down than at any other time since the 1910 revolution. Frightened by his leftist economic proposals, like forming state enterprises and financing them with freshly printed money, many businessmen quietly transferred funds to safer havens, in Europe and the U.S. Inflation and a declining balance of trade forced Echeverria to devalue the peso in 1976 by about 50%, incurring the anger
...Pepe," says an admiring countryman, "is a real he-man." Far from being an otherworldly intellectual, Lopez Portillo is a tough-minded leader with an abrasive streak and a bent for professorial oratory: he often salts his speeches with fire-and-brimstone references to the Aztec past. During his state of the union address, for example, in speaking of the oil spill in the Bay of Campeche, he made references to an ancient god and the Aztec mistress of the Spanish conquistador Hernando Cortes. "In the depths of this flaming well," he intoned, "we Mexicans have seen ourselves reflected...
...General Assembly, Secretary of State Cyrus Vance cited the clash and announced a U.S. initiative for a "broader truce" in southern Lebanon. The American plan had actually been hatching since late August, when a series of heavy bombings convinced State Department officials the time might be ripe. Washington policymakers felt the Israelis were concerned that reports of civilian casualties in Lebanon were undermining their support in the U.S. The P.L.O., riding the crest of a successful diplomatic wave, might be amenable to moderation. The Syrians were believed eager to withdraw some of their troops in the face of mounting political...
...prestige was hit by an even more bruising blow: the defection in Switzerland last week of Figure Skating Champions Oleg Protopopov, 47, and Ludmila Belousova, 43. So alarmed were Soviet officials over the rash of recent defections that they canceled a scheduled 28-concert U.S. tour by the Moscow State Symphony. Before the drastic decision was made, the orchestra's U.S. booking agent, Samuel Niefeld, was suddenly summoned to Moscow. Niefeld was reportedly asked to give "guarantees" that there would be no defections from the orchestra. Obviously Moscow was as dissatisfied with his reply as it was distrustful...
...fear now is that bureaucratic meddling may create distribution bottlenecks and local shortages later in the winter. New York state officials, for example, are concerned that in order to maintain their inventories at levels mandated by the Energy Department, oil companies are holding back shipments to jobbers, distributors and other middlemen, something the oil firms deny...