Word: would
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Dates: during 1980-1989
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...international reinsurers -- Lloyd's of London is the biggest -- which protect insurers against catastrophic losses. Still, the earthquake claims, coming less than a month after the devastation caused by Hurricane Hugo, could set off a chain reaction. Reinsurers might become reluctant to continue backstopping American insurers, which in turn would write fewer policies and raise premiums -- and not just on earthquake insurance...
...revolt began in 1978 with Proposition 13 rolling back property levies, will have to consider a tax boost. The state has begun payments out of a $1 billion emergency fund, but Governor George Deukmejian does not intend to drain that fund, and even if he did, more would be required. The Governor is expected to call the state legislature into special session in another week or so to decide how much more relief is needed and how to pay for it. It is hard to see how any significant amount could be made available without a hike in either sales...
...Politburo, giving itself plenty of time to reconcile the currency with reality, voted a year ago to begin "steps to ensure the ruble's convertibility" by the year 2000. So Sovietologists in the West were caught by surprise last week when Gosbank announced that it would devalue the Soviet currency 90% for transactions that do not involve imports or exports. Foreign visitors will get much more bang for their buck: 6.26 rubles per dollar. But Soviet citizens traveling abroad will receive a paltry 16 cents per ruble instead of the official $1.60, which will seriously hamper their ability...
...cash, a so-called monetary overhang, which has ballooned under Mikhail Gorbachev because the Soviet government has run increasingly large budget deficits to maintain social peace by subsidizing prices for essential goods and services. The government prints more money to cover the gap, which in a free-market economy would increase inflation. But under the severe price controls of a command economy, the money has no place to go but under the mattress. Jan Vanous, research director of PlanEcon, a Washington-based consulting firm, estimates that by the end of 1989 the store of unspent, readily available money will exceed...
...Follow the West German example of encouraging joint ventures by establishing a fund that would insure companies against Soviet default or expropriation...