Word: european
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Dates: during 1970-1979
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...member raised a question in Parliament about the party's defeat in two November by-elections in Lynch's native County Cork. That was the second humiliation this year: in June, Fianna Fáil was trounced in an election of delegates to the European Parliament. These reversals came on top of a number of economic woes that also undermined Lynch: high inflation (14%), soaring interest rates (up to 20%) and a plague of strikes...
...gutter language is seldom heard in the world of high finance, but a lot of strong oaths were echoing last week through the paneled offices of private bankers. Fearful that they might be trapped in the crossfire of the U.S.Iranian economic war, many European moneymen were distressed at the haste with which U.S. banks have declared Iranian loans in default and have seized Tehran's overseas assets. Complained an angry Luxembourg banker: "Third parties are being unnecessarily drawn into the conflict. The Americans are displaying Wild West manners and throwing clubs that will boomerang." Countercharged a U.S. banker...
...Many European and U.S. bankers have been at odds since mid-November. It was then that Chase Manhattan and six other large U.S. banks in an eleven-member syndicate used their voting majority to declare a $500 million loan to Iran in default. That raised fears of still further defaults and sparked the rush to seize Iranian assets as compensation...
Pressure is mounting on Chase in Europe to reconsider and reverse the default. One reason: the bank apparently did not tell its European partners that Iran had asked for a transfer of its funds to pay the interest on the loan, but that this payment had been blocked by President Carter's freeze on Iranian assets one day before it was due. Some Europeans now charge that the U.S. banks are acting as mercenary scouts of the Carter Administration in its campaign against Iran and that they have stopped playing the banking game under the gentlemanly rules of prior...
...Thanksgiving Day in London, officers of Trans World Airlines and Europe's Airbus Industrie smiled, bantered and made a handshake deal. TWA, the last of the major U.S. lines to order an intermediate-range jet fleet for the 1980s, indicated that it would choose the European-made Airbus A310. But then Boeing, the apparent loser, put its flaps up and accelerated. The Seattle company dispatched E.H. ("Tex") Boullioun, president of its commercial airplane operation, to TWA headquarters in Manhattan. Boullioun improved Boeing's terms and worked some blue-yonder magic...