Word: switzerland
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Dates: during 1970-1979
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...dollar, which most money traders consider to be the weakest currency after the pound because of the gigantic U.S. balance of payments deficit, quickly came under attack. The West German Bundesbank had to buy almost $900 million in 90 frenzied minutes Friday morning before officials finally halted trading. In Switzerland, monetary authorities decided not to buy dollars to hold up the price, letting the dollar float down against the Swiss franc. As the situation worsened, French Finance Minister Valéry Giscard d'Estaing conferred with President Georges Pompidou and then announced that Common Market central bankers would meet...
German Journalist Horst Knaut estimates that at least 3,000,000 West Germans subscribe to some form of the occult, and perhaps 7,000,000 more "sympathize with the secret sciences." Staid Switzerland abounds with oddball sects, including one in which a supposedly "possessed" girl was tortured to death a few years ago. In Italy, it is not so much the quantity as the quality of occultism that has changed. Long a part of Italy's superstitious southern peasant culture, occultism has moved north to the industrialists, the doctors and lawyers of the affluent upper class...
...intensifying war of the watches involves the technological and marketing savvy of companies in three nations: Switzerland, Japan and the U.S. As usual, the Swiss dominate, with export sales of $650 million last year, a total that amounted to nearly four-fifths of world exports. But the Swiss have been losing ground to the Japanese, whose watches generally are of somewhat lower quality and command lower prices than the Swiss. Last year Japanese watchmakers accounted for $106 million in exports, and their sales jumped 10% in Europe and 50% in the U.S. Meanwhile, U.S. manufacturers, led by Timex and Bulova...
Spreading round the world, Holiday Inns have opened in places as varied as Greece and Swaziland, Switzerland and Hong Kong, Morocco and Nassau. Last month the company opened an eleven-story inn in Monte Carlo. On his Brazil trip, Wilson closed deals to build six inns, with local investors putting up most of the capital in return for Holiday Inns' name and know-how. Over the next five years, Holiday Inns will build seven outlets in Israel alone, some of them in kibbutzim...
Hippie Heroes. Although Wisconsin v. Yoder was the first Supreme Court case in the long history of the Amish in the U.S., the Amish have always been a people apart, at odds with society. Their founder, Jakob Ammann, was a Mennonite bishop in 17th century Switzerland. After Ammann clashed with the sect's leaders over fine points of observance and demanded strict excommunication of backsliders, he and his followers broke away in 1693 and became the Amish. They sought refuge in America after William Penn's colony became a haven of religious freedom...