Word: thirds
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Dates: during 1980-1989
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...Warsaw Pact is both the symbol and the instrument of Soviet domination over what used to be called the captive nations. Even if the forces of the pact were cut to one-third their current size, they could still "protect the gains of socialism" by "extending fraternal assistance" to a regime facing revolt or collapse...
...because he hit but .218 one-handed. As a pitcher, Abbott is excused from batting chores by the American League's designated-hitter rule, though it may be the other pitchers who should celebrate. At Michigan he came to bat a total of three times. After grounding out to third, he singled in the infield and then cracked a clean hit to right. Two for three. That's .667 lifetime...
...President George Bush, Secretary of State James Baker is one of the most powerful men in Washington. But his tenure as Ronald Reagan's Treasury Secretary has left a sorry legacy: the failure of the so-called Baker plan, the 1985 policy designed to ease the debt burden of Third World nations. The 15 largest borrowers, most of them in Latin America, have seen their debt climb to more than $500 billion, from $350 billion in 1981. The debt load has left local economies a shambles and fragile democracies threatened. After 300 people died in Venezuela two weeks ago ( during...
...unveiling a sweeping new approach to the crisis last week, Treasury Secretary Nicholas Brady all but repudiated Baker's program, which promised new loans for debtor countries once they instituted economic reforms. Instead, he called for measures that would help reduce Third World debt. "Our objective," said Brady, "is to rekindle the hope of the people and leaders of debtor nations that their sacrifices will lead to greater prosperity in the present and the prospect of a future unclouded by the burden of debt...
...minimize the change, but the break with past policy is dramatic. The Baker plan adamantly rejected the notion that debt reduction should be achieved by commercial banks writing off a significant portion of their loans. But the Administration is now encouraging U.S. commercial banks to reduce some of their Third World loans by allowing debtor countries to make smaller payments on their principal and interest obligations. Brady left many of the plan's details vague, and the initial response from bankers, Congress and Latin American finance ministers was guarded. The Mexican government called the plan a "first positive step...