Word: tighteners
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Dates: during 1980-1989
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Mexican President Miguel de la Madrid Hurtado declared in a speech Feb. 21 that his government can tighten its belt no further and that it is time for some "sacrifices" from international bankers. The President proposed that Mexico's payments be reduced to what it can afford, but he offered few specifics. Some Mexican officials have hinted that the country wants a stretched-out repayment schedule and a reduction in the average interest rate on its loans from 10% to 6%, which would reduce its annual debt-service load by $4 billion a year...
Replying to repeated calls by some in Congress to raise taxes to reduce the federal deficit, Reagan said, "I'm sorry, they're asking the wrong people to tighten their belts. It's time we reduced the federal budget and left the family budget alone...
Neighborhood groups, who oppose this move in favor of low-cost housing and blue-collar jobs on the Simplex site, are expected to petition the City Council to tighten the area's zoning restrictions...
...back their output, or else. They apparently hoped their threat alone would make competitors fearful of a superglut and persuade them to slash production. But the message backfired. While it succeeded in panicking oil traders, the tough talk failed to frighten Britain or Norway enough to make them tighten their spigots. British officials said that they would not accede to Yamani's wishes...
...Tighten That Belt...