Word: switzerland
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Paris Match called the idea a "new Trafalgar," and reported (probably inaccurately) that $1 billion had flowed out of France toward Switzerland in the one day after the bill was proposed. The powerful Socialist and Communist opposition parties condemned the measure for containing too many loopholes favoring the rich. The Communists have even been acting as defenders of middle-class property-especially over the part of Giscard's proposal that calls for taxes on the sale of vacation homes, the résidences secondaires owned by 14 million...
...moment at any rate, of a massive flight from sterling. Yet the sudden plunge left no doubt about just how vulnerable the buffeted pound is to the gusts of the marketplace. The slide was touched off when Swiss banks, anticipating new import controls on foreign capital moving into Switzerland, converted sterling into the solid security of Swiss francs. Even this light selling wave was enough to tip the pound into its tailspin. Said one London currency dealer gloomily: "It's not so much that people are selling pounds. Nobody wants...
...reans drop their Christian names for African ones, address one another as "citizen" and "citizeness," and wear a form of national dress-batik sarongs for women, tunic suits for men. Absolute wealth has tended to follow absolute power; Mobutu-whose personal interests include property in Spain and Switzerland -has been widely described as one of the wealthiest...
...died of bronchitis in Basel last month at the age of 85, Mark Tobey had long been the favorite American painter of those who, in general, disliked American art. For them, Tobey was the quintessential expatriate: an old man of august refinement and blunt disposition who had settled in Switzerland 15 years before and proved his vision by amplifying it far from his roots on the Seattle coast...
...social problems that have resulted from the watch industry's decline. To a large extent, watchmaking has remained a cottage industry, with production divided among more than 1,000 firms scattered throughout the foothills of the French-speaking Jura region. Unemployment among the workers has inevitably affected Switzerland's normally strike-free labor relations. In January, 189 workers at a U.S.-owned Bulova plant in Neuchátel went on strike to oppose plans for consolidating production in Bienne, 20 miles down the road...