Word: storm
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Dates: during 1990-1999
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France's worst storm ever recorded continued a string of worldwide storm disasters this month. Flash floods drowned crops and damaged buildings and roads, leaving at least 38 people dead. An additional 80 were injured or missing, and thousands were evacuated from the popular Southeastern region of Vaucluse, where most of the death and destruction occurred. "It's an indescribable tragedy," said Mayor Claude Haut of Vaison-la-Romaine, an ancient Roman town of 5,000 people 25 miles north of the city of Avignon, where 23 died...
...this situation of mistrust, no political or monetary union is possible. Europe is in turmoil. There is nothing to do now but sit and weather out the storm...
...cornerstone of some future monetary union. Britain, where a parliamentary vote in favor of the treaty on European unity had once been a foregone conclusion, emerged from the tempest in a shaken and vengeful mood, facing a political crisis. Europeans elsewhere were praying that what they experienced was the storm before the calm. But nobody was foreseeing that the good ship Europa would reach safe haven anytime soon...
Like many a natural catastrophe, Europe's monetary storm blew up with little warning, though the clouds had been darkening since June, when Denmark narrowly rejected the Maastricht treaty. Named for the Dutch city where it was signed last February, the pact provides for the eventual political union of the European Community, a common foreign and security policy, and most important, a single European currency...
...much more happened in Europe last week than the reconfiguration of exchange rates. The storm's main casualty was not currencies that one day will rise again if managed properly but rather Europe's listing ship of state, which has been blown off its course toward political and economic union. "The markets held their own referendum a week early," said David Roche, chief European strategist with the U.S. investment bank Morgan Stanley International in London, "and voted no, a thousand times...