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Citicorp's bolstered reserves give the bank a cushion against a default by any of its Third World debtors. That alone, predicts the head of a U.S. banking office in Brazil, "will change the renegotiating process forever." Says he: "The idea that a debtor can threaten the international financial system with collapse and get whatever it wants just won't work anymore...

Author: /time Magazine | Title: Citicorp Breaks Ranks | 6/1/1987 | See Source »

...Falklands war in 1982 when an Argentine aircraft dispatched an Exocet missile to sink the British frigate Sheffield some 40 miles away. In the next two years the French-built sea- skimming missiles were snapped up by 27 nations. Even third-rate powers suddenly acquired the ability to threaten valuable warships from over the horizon...

Author: /time Magazine | Title: When Attackers Become Targets | 6/1/1987 | See Source »

Although the Nigerian leaders' fervent anti-communism hardly made credible a close alliance between Nigeria and the Soviet Union, the possibility of a rapprochement between the two nations was sufficient to cause one State Department official to threaten: "the United States government will do everything in its power to block" private citizens from organizing a relief effort...

Author: By Mitchell Berman, | Title: The Lessons of War | 5/29/1987 | See Source »

Militarily, just as Viet Nam revealed the limits of our power to commit American troops to combat, so have the last few years demonstrated the practical limits to military spending. As armaments grow ever costlier, and more and more countries threaten to build their own nuclear weapons, the pressures for more effective cooperation will undoubtedly grow in this domain as well...

Author: NO WRITER ATTRIBUTED | Title: President Bok: | 5/20/1987 | See Source »

...many issues, Aquino is caught between the right and left wings of her fractious government. Her liberal advisers charge that the vigilantes threaten to become the Philippine equivalents of Latin American death squads. Says Haydee Yurac, a former member of Aquino's Presidential Commission on Human Rights: "It's a dangerous phenomenon that can easily get out of hand." Conservatives, including many officials of the Roman Catholic Church, counter that the people have a right to self-protection. The vigilantes, says Jaime Cardinal Sin, the outspoken Archbishop of Manila, represent the "people reacting to the violence of the rebels." Says...

Author: /time Magazine | Title: The Philippines Rise of the Vigilantes | 5/11/1987 | See Source »

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