Word: zuricher
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...jack up their own interest rates to compete with U.S. levels if they hope to keep the money from departing. But the higher rates will then dampen their economies. "Germany has already let its interest rates drift up since spring," notes Hans Mast, chief economist for Credit Suisse in Zurich. "If American rates don't drop by fall, European rates will have to start moving up." Says Economist Heller: "The international costs and consequences of our interest rates are really incalculable...
...company declined to pay the seven-figure commission he demanded and he left in a huff. With partner Pincus ("Pinky") Green, a fellow Wunderkind trader from Philbro, he established his own firm with headquarters in Zug, an Alpine town 14 miles south of the financial center of Zurich...
...approaches the Continent as a kind of Disneyland for post-adolescents, and brims with a wide-eyed sense of wonder. But after one too many meals in department-store cafeterias, one too many Dickensian bed-and-breakfasts and one too many afternoons of hauling dirty laundry around Zurich in a vain search for the cheap laundromats that Frommer assures us "abound" (they do not), even the most economical tourist may sneak a look at what Birnbaum...
Hans Mast, a University of Zurich lecturer and executive vice president of Crédit Suisse, feared that persistently high interest rates could even abort the incipient European recovery. Warned Mast, who attributed the high rates, at least in part, to lingering worries about a resurgence of inflation in the U.S. and to the Federal Reserve Board's tight-money policy: "The prospects as seen from Switzerland are very chilling indeed. The three major short-term economic problems of our time have not been resolved." The first, in Mast's view, is unemployment, which "could rise to socially...
Aggravating the controversy was Stern's angry charge that Newsweek, after withdrawing a bid to publish the diaries, had unethically broken an agreement to keep secret the material that had been shown to Parker and a paid historical consultant in a Zurich bank vault. The major leak: the content of passages about Hitler's attitude toward Jews and the Holocaust, which Newsweek assessed, but which Stern had not planned to publish until next year. Said Stern's Koch: "That was a nice dirty trick. We would like to sue. We were cheated, and I guarantee Newsweek will...