Word: brink
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Three years of mismanagement by an increasingly corrupt military dictatorship has brought the Republic of Colombia to the brink of economic chaos. Despite good coffee prices and a bumper crop, Colombia is in debt by over 350 million dollars, more than its entire income from coffee exports for the first eight months of 1956. Her currency has depreciated, her credit has been seriously damaged, and her foreign exchange reserves reduced to a dangerously low level...
...relationship with his son, of his duty to and faith in his God - than she has yet power to illuminate. For much of the book, Abraham strides forward with Old Testament credibility. But toward the novel's end, tragedy bows to contrivance which teeters on the brink of absurdity; the writing turns from archaic simplicity to perfervid pleading. Unfortunately for her purpose, the characters who seem most alive are the women : the silly, gabbling, pitiable gossip, Mrs. Plopler, and the bereft Sarah, who had wept so much that "the ocean had drained away, and she cried now with only...
When skidding Studebaker-Packard Corp. was rescued from the brink of bankruptcy last summer (TIME, July 30), President James J. Nance agreed with his benefactor, Curtiss-Wright Corp., that he would surrender his $150,000-a-year job. Nance also gave up a long-term contract that would have paid him $200,000 a year by 1961 plus a guaranteed annual wage of $40,000 if he left. In return, Jim Nance got a fat unemployment compensation settlement. The deal, disclosed last week: a $286,000 trust fund, an additional $75,000 plus for salary through Jan. 31. He also...
...while West Germany has stepped to the brink of complete currency convertibility, it has not yet taken the final plunge for fear of upsetting the other European currencies. The Germans worry that if they free the Deutsche mark while other currencies are weak, so much trade would flow their way that it might torpedo the European Payments Union, to the detriment of all European traders outside West Germany. Belgium, Holland and Switzerland all have stable money and trade balances, could probably compete under the terms of free currency exchange. Italy, too, is moving ahead rapidly; the lira has been stabilized...
...Western diplomacy to date is concerned, Mr. Dulles deserves praise for preventing his own blunders from pushing the West over the brink of both the canal and war. When Britain and France were threatening military action, Dulles stepped in with a strong restraining hand and cogent pleas for negotiation and flexibility and international control. Thankfully, Dulles realized what had to be done...