Word: zuricher
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...have been used to finance municipal borrowing in Britain, imports in Italy and even a national-budget deficit in Belgium. More and more American companies, cajoled or clubbed by President Johnson into keeping their money at home, are financing expansion in Europe out of the Eurodollar pool. Says a Zurich banker, "U.S. companies in Europe are soaking up Eurodollars like a sponge." Last week the International Business Machines World Trade Corp., overseas arm of IBM, opened a $35 million line of Eurodollar credit...
Since January, the rate of stock slippage has stepped up. Thus, Zurich values are down 6½% this year. Amsterdam is down 8½%, the German Herstatt index is off 12½% and Paris Bourse prices are down 2½%. There is one bright spot on the European market scene: after a very bad 1965, stoic British investors, convinced that inflation is here to stay and that stocks are the best protection, have upped the 'London Exchange 5.5% this year. And some groups of stocks, including gas, because of recent North Sea discoveries, and aircraft, because of improved profits...
With such a wealth of art, a favorite guessing game on three continents has been: Who will get the collection? London's Tate Gallery offered to build a museum in Regent's Park to house it. Israel was willing to match all offers; so was Zurich, Switzerland. At home, Los Angeles wanted the collection for its new museum; Governor Nelson Rockefeller wanted it for New York State; the Baltimore museum offered to build a separate wing. Hirshhorn himself at various times was rumored to be alternately considering turning his Greenwich home into a museum or planning to build...
...bloodshed by promising the Dutch full protection for their vast investments in return for freedom, but was turned down cold, a rejection so embittering to Indonesians that they turned away from Sjahrir's conciliatory position to Sukarno's militant anti-Western leftism; after a long illness; in Zurich, where he had lived since 1965, when Sukarno released him from an eight-year jail term for his continuing pro-West sentiments...
Died. Emil Brunner, 76, Swiss theologian who proselytized for the early 20th century Protestant movement against the attenuating liberalism of the day, and argued for a return to a systematic theology that accepted the Bible as the only source of divine revelation; following a stroke; in Zurich. The articulate Brunner carried the dogma of neo-orthodoxy to Protestant seminaries around the world, was often compared to his fellow countryman Karl Earth, who espoused the same biblicism, but the two sometimes disagreed on the application of Christian principles to life...