Word: switzerland
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Dates: during 1970-1979
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...collateral. News of the loan came amid the ever increasing cost of living (Rome's food prices were up 20% in August), shortages of pasta and sugar, poor harvests and mounting business failures. Tens of thousands of Italian workers have lost their jobs in France, West Germany and Switzerland and are returning home, swelling the ranks of Italy's unemployed...
...Lugano, Switzerland, had lost a walloping $79 million because of "unauthorized foreign exchange dealings...
Fourteen other nations are potential members of the club: Algeria, Bangladesh, Belgium, Chile, Colombia, Indonesia, Libya, North Korea, Portugal, Saudi Arabia, Spain, Switzerland, Turkey and Venezuela. Though they are not nearly as advanced as the first group, they could become atomic powers by the end of the century-and sooner if they decide that it serves their interests...
Others are using expensive but reliable courier services, paying as much as $8 to ensure delivery within 24 hours of a letter from Milan to Palermo. Northern Italians routinely drive an hour or more to mail letters in Switzerland...
What is most striking is the American edge in profitability: the 24 U.S. companies account for 71% of the total net income. Besides the U.S., only seven countries are represented: Germany, Britain, Japan, Italy, France, Switzerland and The Netherlands. The top 50, with sales and earnings for 1973 or the latest available fiscal year...