Word: switzerland
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Dates: during 1970-1979
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...jitters were high on the agenda of government bankers from the U.S., Western Europe and Japan when they gathered in Basel, Switzerland, last week for a meeting at the Bank for International Settlements, a sort of central bankers' central bank. The central bankers reportedly agreed "in principle" to lend money to bail out private banks caught in a liquidity squeeze just as the U.S. Federal Reserve has kept Franklin National in business by lending it more than $1 billion. However, they specifically ruled out aid for banks caught in "irresponsible" foreign exchange dealings. The decision was no comfort...
...nothing to bolster confidence in the German banking system, or indeed banking generally. Herstatt had incurred, and concealed, massive losses through speculation in foreign currencies. Similar fates have overtaken banks in other countries. In the U.S., currency trading has cost the Franklin National Bank dearly (TIME, July 1); in Switzerland, the Union Bank reportedly dropped $50 million; in Germany, Westdeutsche Landesbank Girozentrale has lost perhaps $110 million...
...Juive (The Jewess) is grand in style, massive in its demands for choral, orchestral and solo forces and spectacular in stage effects; in accordance with the Parisian fondness for such stuff, it was one of the favorites of 19th century French opera. Set in 1 5th century Switzerland, the story concerns the persecution of Eleazar, a Jewish goldsmith, and his foster daughter Rachel. Before his execution, Eleazar gets to sing one of the tenderest arias in tenor literature, Rachel, quand du Seigneur. Caruso and Martinelli sang the role, and Richard Tucker has been begging for years to sing...
...preliminary heats are this Friday, with the finals for the fours on Saturday, and the eights on Sunday. The national champion will then be eligible to represent the U.S. at the World Championships at Lucerne, Switzerland in September...
...Harding Jones (Princeton, '72) is not happy with his alma mater. Neither is Shelby Cullom Davis (Princeton, '30), U.S. Ambassador to Switzerland...