Word: bonne
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Actually, Bonn had not granted the Arabs any credit at all in the usual sense of the word. Under Erhard's policy of guaranteeing exports to underdeveloped countries, German firms which intend to do business in the "regions" of Egypt or Syria may submit their plans to Bonn for approval. They must finance their own shipments; only if the U.A.R. should fail to pay would the guarantee operate. For Cairo's ambitious list of factories, bridges and port projects, the West German government would promise only to provide technical advice and training...
...Bonn also turned down the Egyptian demand to buy more Egyptian cotton; West Germany's textile factories still seem to get as much Egyptian cotton as they need by buying at cut-rate prices from the Soviet-bloc countries, which got the cotton from Egypt in payment for Red arms to Nasser...
RUSSIA'S diplomacy was busy last week, in a private luncheon with prominent French ministers and ex-ministers in Paris, and in a gesticulating private conversation with Konrad Adenauer in Bonn. But for all the activity, there was an emptiness in the total performance, reflecting a confusion at home. For the symptoms see FOREIGN NEWS, Bad Week for Them...
...young German Federal Republic stepped down from a silvery Tu-104 jet airliner in Frankfurt, and in his honor West Germany grudgingly broke out the Soviet Russian flag. First Deputy Premier Anastas I. Mikoyan had come to sign the $750 million, three-year trade agreement recently negotiated between Bonn and Moscow (TIME, April 21). As the ink dried on his signature, Mikoyan delivered a short and pointed speech: "If the American crisis continues it will have its effect on Europe. There will be more sellers than buyers in the world. Keep that in mind...
...check to the fund for rebuilding Coventry Cathedral, which German bombers destroyed in a 1940 raid. After three glowing days Adenauer returned to Germany, where this week he will play host to Russia's No. 2 man, First Deputy Premier Anastas Mikoyan, whose visit to Bonn to sign the new Russia-West Germany trade pact is further evidence of West Germany's heightened prestige...