Word: uses
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Dates: during 1960-1969
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...call options are exercised. "We are asked over and over whether we are encouraging people to pour money down a rathole," admits Paul Farmer, head of Goodbody & Co.'s option department. Farmer does not think so. "The problem," he says, "is to teach people how to use options." By doing that, brokerage firms figure they can expand the market...
Considering S.D.R.'s complexity, it is just as well that tourists and businessmen will continue to pay their bills in national currencies. Governments alone will be eligible to use S.D.R. and even then only to settle international debts in limited quantity. The idea is to test the plan gently at first by creating between $1 billion and $2 billion worth of S.D.R. a year over a five-year period. But a solid decision remains some years...
...last week's agreement "the greatest step forward since the creation of the IMF" 23 years ago at Bretton Woods, N.H. It was also a considerable personal triumph for U.S. Treasury Secretary Henry Fowler, who had to overcome the fears of skeptical central bankers that the U.S. would use S.D.R. to cover up its chronic payments deficit...
...created, but their stand won scant support from other countries. More worrisome was French Finance Minister Michel Debré's demand (supported by West Germany) that IMF's charter be revised to give the Common Market veto power over all future expansion of IMF reserves and the use of IMF loans by debt-laden countries. "If we don't get our way," threatened one European finance chief, "the Americans aren't going to get any monetary reform in the foreseeable future...
...central determinant of success, he said, "is whether or not the applicant has the intellectual capacity to do the work required of him and the emotional maturity and motivation to use his intelligence effectively...