Word: zuricher
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DIED. E.F. Schumacher, 66, German-born economist and author of the underground bestseller Small Is Beautiful; of a heart attack; while en route by train from Lausanne to Zurich, Switzerland. Schumacher, who immigrated to England before World War II, served as economic adviser to Britain's National Coal Board from 1950 to 1970. In his 1973 book, Schumacher maintained that continuous growth was not necessarily desirable; that small, energy-saving units of production could often best serve human needs...
...appearances, divine purpose is still faithfully served along Zurich's elegant Bahnhofstrasse, where the great names of Swiss banking conduct their worldwide affairs behind stately fagades of Alpine granite. Yet the air of heavenly serenity on the stylish street provides a curtain for mundane turmoil. After the worst scandal in Swiss banking history, that sedate and secretive industry has moved-or rather been pushed-to tighten up some practices that have proved shockingly loose. The changes may turn out to be far-reaching...
Kuhrmeier concealed this operation from his superiors in Zurich. Whenever bank auditors visited the Chiasso branch, the books that recorded Kuhrmeier's Texon dealings and other incriminating papers were spirited through a private doorway into a collaborating law firm next door. Crédit Suisse's Chiasso branch, says Bernhard Miiller, director of the Swiss Banking Commission, "was a bank within a bank...
...Italian government, which hoped to lure home lire, offered a blanket amnesty to all Italians who would bring back their money. Result: withdrawals were so large that Crédit Suisse's branch in Chiasso was forced to turn for help to the home office in Zurich. The head office's investigation led to police involvement. Three Chiasso bankers, including Branch Manager Ernst Kuhrmeier, have been arrested on charges of criminal mismanagement...
Police found pistols, revolvers and a stiletto in the captured couple's rucksacks, as well as train tickets to Zurich and several forged identity documents. Authorities suspect that Sonnenberg and Becker had been bringing the arms and documents to a secret meeting of terrorists in Switzerland when they were recognized from newspaper photos by the sharp-eyed old lady in Singen. German and Swiss police were on high-priority alert last week as they searched for two other suspects in the Buback assassination conspiracy...