Word: westerner
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Dates: during 1980-1989
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...Western Europe pursues the promise of a more prosperous and safer era, the recent past seems impossibly remote. Only a few years ago, the area's decline seemed assured. Euro-Communists loomed large, Spain's infant democracy was threatened by a military coup, and terrorists operated so boldly that a former Italian Prime Minister was kidnaped and murdered. West Europeans seemed trapped in a twilight zone of economic entropy and declining international influence. After the deep OPEC-induced recession that ushered in the 1980s, millions of workers remained sidelined, victims of an affliction dubbed Eurosclerosis -- a hardening of the business...
What a wonderful word, Europhoria. Western Europe seems to have rediscovered the political will to advance the stalled process of economic integration and further the old dream of Continental unity. In a bold venture eyed warily by the rest of the globe, the twelve members of the European Community* have pledged to unite their markets by Dec. 31, 1992, creating the world's largest market and trading bloc. West Europeans have few illusions about their ability to create a United States of Europe. Even within individual countries, regional rivalries are still pronounced, and the Continent's cultural diversity will continue...
Europe's new assertiveness poses a special challenge for Washington, which has long been accustomed to treating Western Europe as a junior partner, particularly when it comes to managing the global economy and East-West security. At last May's NATO summit meeting, President Bush asserted traditional U.S. leadership with his proposals for an accelerated timetable of reductions in conventional arms. But he was forced to bow to West German demands that the alliance postpone a decision on deploying a new U.S. tactical missile to modernize NATO's nuclear arsenal...
...approaches, there is fear that Western Europe will erect protectionist ramparts to shelter its rich new market. Dependent on global trade for their prosperity, most Europeans recognize the need to prevent such an outcome. But even if Western Europe remains open for business, the Continent's growing stature is bound to produce further strains in its relationship with...
Predictions of Western Europe's demise, however, proved to be premature. The U.S. recovery and appetite for imports helped spur the Continent's economies. But self-help played a major role as well. With one eye on the impact of the Reagan Revolution in the U.S., the area's governments reduced taxes, scissored red tape and encouraged investment. A new breed of hard-driving Euroentrepreneurs has emerged, bent not only on streamlining the Continent's industries but also on spearheading a European invasion of corporate America. Last year British raiders alone spent $32 billion on U.S. companies, compared with...