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...communique called on the Soviet Union to enter into negotiations on the reduction of medium-range weapons as soon as possible. It also made a limited unilateral offer: to withdraw "as soon as feasible" 1,000 of the 7,000 U.S. war heads presently positioned in Europe, most of them in obsolete weapons such as land mines and bombs. The action was intended as a response to the ongoing withdrawal of outmoded Soviet tanks from East Germany, or, as a NATO diplomat acknowledged less than respectfully, "our garbage for their garbage." The Soviets have been giving conflicting signals...

Author: /time Magazine | Title: NATO: A Damned Near-Run Thing | 12/24/1979 | See Source »

...occasion, gathered to witness the latest episode in the propaganda blitz that Moscow is waging against the Western nations' plan to strengthen their nuclear forces in Europe. With fanfare, the Soviets began carrying out an unexpected pledge made by Soviet President Leonid Brezhnev in October to withdraw some forces from East Germany...

Author: /time Magazine | Title: EAST-WEST: Maneuverings over Missiles | 12/17/1979 | See Source »

...hoopla, however, newsmen saw only about 30 tanks and 150 troops aboard the "train of hope and good will" at Wittenberg. Though the Soviets have promised to withdraw 1,000 tanks and "up to" 20,000 soldiers over the next year, that action will not significantly reduce their East German force, which includes 6,700 tanks and 365,000 troops. Moreover, the outfit involved in last week's withdrawal, the Sixth Guards Tank Division, is rated by the Pentagon as the least capable of all the Soviet units in the Warsaw Pact countries. Essentially, say U.S. analysts, the much...

Author: /time Magazine | Title: EAST-WEST: Maneuverings over Missiles | 12/17/1979 | See Source »

...dispel Soviet fears that the new weapons represent a threat to peace, the U.S. is expected to announce that it will withdraw about 1,000 of 6,000 nuclear warheads now based in Western Europe. In addition, NATO next week will almost certainly propose negotiating with the U.S.S.R. a further reduction of nuclear forces in Europe. Deciding the precise terms of this call for arms talks will be one of the main items before NATO Foreign Ministers. Because neither the Pershing II nor the cruise will be ready for deployment for at least three years, some NATO governments hope that...

Author: /time Magazine | Title: NATO: Meeting Moscow's Threat | 12/10/1979 | See Source »

Tremors of foreboding spread through money markets from Tokyo to Bahrain. The dollar plunged steeply on initial reports that Iran would withdraw its deposits from U.S. banks, then rebounded in nervous surprise at the news that Washington was freezing the assets before they could be withdrawn. When rumors circulated in Europe and New York that Iran would counteract the move by refusing to accept dollars as payment for its oil delivered to any nation, the U.S. currency began to gyrate all over again. Brokers and traders passed the week wearing looks of astonishment at what might come next...

Author: /time Magazine | Title: Nation: The Economy Becomes a Hostage | 11/26/1979 | See Source »

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