Word: zuricher
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...major default by cash-starved borrowers ranging from Mexico to Poland. And though unemployment is currently at 10.5% of the labor force in Western Europe as a whole, and rising, the specter of inflation is receding. By next December, according to Board Member Hans Mast, a University of Zurich lecturer and executive vice president for Crédit Suisse, inflation should have been driven down from a current level of 8.5% to an annual rate of no more than about 7.5%, the lowest in more than a decade...
Herbert Frei Zurich...
...ades, cost about $45 million to furbish and furnish. It is largely the inspiration of René E. Hatt, 55, a beefy Swiss developer known to the hotel's 280 employees as Le Big Boss. Hatt, whose Nova-Park chain owns Switzerland's biggest hotel, in Zurich, also has hotels in Jiddah, Saudi Arabia and Cairo. This fall the chain will open its first U.S. hotel, in New York City; it will occupy the Gotham, a well-loved 77-year-old structure that is being totally rebuilt. Its presidential suite will rent for $1,750 a night, plus...
Some board members regarded the prolongation of the recession as the painful price of wringing inflation out of the system. Others, like Hans Mast, a University of Zurich lecturer and executive vice president for Crédit Suisse, feared that the deflationary cure has become too dangerous. He noted that trade protectionism is growing and that there is also the risk of an international financial squeeze that could dry up bank lending. It was time, said Mast, "to go on the economic offensive" against present policies...
...marshals' performance last week required both daring and diplomacy. Although top law-enforcement officials in Switzerland and Spain were notified about Wilson's journey, airport officials at Zurich and Madrid were not told the true identity of McCormick. High-ranking Dominican police officials were briefed on the plan, and cooperated fully at the airport. Since Wilson was never officially admitted to the Dominican Republic, he did not need to be extradited. One top U.S. law-enforcement official said of the delicate operation: "If at any time Wilson had turned left instead of right, it would have ruined...