Word: bailing
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Dates: during 1980-1980
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...indefinitely, leaving the matter for its successor. But Washington officials were already raising questions about the security of Western loans to East bloc nations, which now total about $70 billion. The matter is also increasingly being seen as a test of Moscow's willingness to bail out its overextended satellites. "It is not just a question of loans and credits and money," says a senior member of the Belgium banking community, "but a supreme matter of state in East-West relations...
...Western eyes, the Soviet Union has contributed to the creditworthiness of the East bloc economies because no one believes that Moscow would allow one of its allies to go bankrupt. True, North Korea defaulted on a Western loan in 1975, but bankers attributed Moscow's failure to bail out Pyongyang to Sino-Soviet rivalry. The Kremlin has helped Poland in the past and could do so again, for example, and today it is flush with funds. Thanks to foreign sales of gold and oil, the Soviets have paid off $2.5 billion in private bank loans. Thus far, however, they...
...Washington or private banks were to bail out Poland again, it could be taken as a vote of confidence in the Soviet Union: lenders would be saying that they expect the Polish economy to be nursed back to health by Moscow so that it will eventually be able to repay its loans. In the international financial community the prevailing sentiment is that the West cannot afford to turn down Poland's money request for fear of a more pronounced Soviet intervention in the country's internal affairs. Says Lawrence Brainard, a Bankers Trust vice president: "The real issue...
Franklin, who was being held on $1 million bail, faces a hearing this week on whether he should be transferred to Salt Lake City, where he was indicted for violating the civil rights of two black men Theodore Fields, 20, and David Martin 18, who were shot to death in August while jogging with two teen-age white girls. Franklin had been arrested two months ago in Florence, Ky., but had soon escaped, leaving behind a Chevrolet camaro, two rifles and two handguns. Said he of the charges: "They are all trumped up because of my white racist views...
...farming estate outside Salisbury. Only minutes before, Gerald William Adams, 68, a white farm manager, had been gunned down in a daring afternoon raid, while calling for help on his emergency radio. After his arrest, Tekere was held in Chikurubi Prison for a fortnight and released on $75,000 bail. Maximum possible sentence if convicted at his trial: death by hanging...