Word: still
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Dates: during 1980-1989
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...branch manager, Christopher Drogoul, apparently issued the credits and kept the records at home. Drogoul, whose possible motives are still being investigated, has been dismissed. The Italian bank contends that it will suffer no losses from the scheme because the credits were guaranteed by U.S. and Iraqi agencies, but banking experts believe debt-laden Iraq may be hard pressed to make good if the deals go sour...
...version of perestroika. "Well, I just looked out the window from the plane, and there is in fact just one Europe." From aloft the Solidarity leader could not, of course, see the very real partition of Europe into East and West. Nor could he detect the many barriers that still separate the countries of Western Europe. But what Walesa did discern is that Europe is changing fast: ideological divisions are disappearing, borders are blurring, and the Continent is coming together in ways that are forcing the rest of the world to take notice...
...globe, the twelve members of the European Community* have pledged to unite their markets by Dec. 31, 1992, creating the world's largest market and trading bloc. West Europeans have few illusions about their ability to create a United States of Europe. Even within individual countries, regional rivalries are still pronounced, and the Continent's cultural diversity will continue to be a barrier to political unification. Only last week the E.C. warned of "worrying delays" by member countries in implementing single-market legislation. But Project 1992 has given fresh momentum to a process that has taken Western Europe further down...
...Eurotycoons the U.S. may be an attractive investment, but for most West Europeans home is now where it's happening. Vice President Dan Quayle's campaign claim that the U.S. "is the envy of the world" puzzled many prosperous West Europeans. Though still much admired, America, with its violent streets, racial tensions, drug addiction and homelessness, is no longer the beckoning place it once was. Says Jean Manuel Bourgois, vice president of Groupe de la Cite, France's second largest publishing house: "The magic of the American dream has gone. Today Europeans find less to envy in America...
...strategically vital field of computers, no European firm is capable of competing with America's IBM or Japan's Fujitsu. "We know very well that European companies still are a long way away from having the critical mass necessary to stand up to the competition," concedes Gianni Agnelli, chairman of Italy's Fiat. Still, some success stories show that Western Europe has not been entirely eclipsed at the high-tech end of the market, where the battle for survival will be keenest. Airbus Industrie has emerged as Boeing's main competitor in the lucrative commercial aviation sector. While...