Word: germane
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Dates: during 1960-1960
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Most of the rest of the world cheered the West German economic miracle. Infinite hard work, self-denial and good direction had put a war-racked people back on its feet; in an exposed sector of the cold war, a trouble spot became a source of strength. Now, with its industry rebuilt and its commerce thriving, how was West Germany using its strength? To the alarm of many of its allies who had helped the Germans in their time of trouble, West Germany is acting like a penny- pinching miser among nations, more intent on adding to its riches than...
Adenauer's experts claimed that West German aid abroad in 1959 amounted to $820 million. But the claim is more impressive than the reality. The Germans include in the total their contributions and their profitable loans to the World Bank. Also included is the "cost" of sales abroad under Bonn's short-term credit plan that gives guarantees to German firms selling in hard-up areas of the world; in many cases, struggling small nations operating under this system repaid the Germans with dollars granted them under U.S. aid programs, adding further to West Germany's currency reserves. Actually, West...
Letter from Ike. All this did not go down well with those who recalled that sympathetic creditors, mostly U.S., for-gave over $1 billion in German prewar debts at the 1952 London Debt Conference, and that the U.S. Government agreed to wipe $2.2 billion in postwar aid debts off the books to help the Germans along. And though West Germany's defense depends largely on keeping U.S. and British troops stationed on its territory, the Germans have doggedly insisted on trimming their share of the costs of maintaining and supporting them. In 1958, German troop-support payments to Britain were...
...lowered U.S. bullion reserves from $24 billion in 1948 to $18.5 billion today. In September, U.S. officials spoke bluntly to Bonn's visiting Economics Minister Ludwig Erhard. But the real holdout appears to be Chancellor Konrad Adenauer. President Eisenhower himself has private- ly written Adenauer asking for more German help. Later this month, both Secretary of the Treasury Robert Anderson and Under Secretary of State Douglas Dillon will travel to Bonn to put the case to the Chancellor in person. They are considering slashing local purchases of German supplies for U.S. troops stationed in Germany; there is even talk...
...chief of the Soviet Rocket Command; in a plane crash while on an undisclosed mission. A much-decorated Hero of the Soviet Union, a deputy Defense Minister and alternate member of the Communist Party Central Committee. Nedelin defended Moscow's western front during the German attack of 1941, later in the war shifted to the Ukraine (where he first gained favor with Khrushchev) and rose swiftly but anonymously through the ranks of artillerymen until Khrushchev casually revealed his top spot last May, after Russian rockets allegedly hit their biggest target: the U-2 piloted by Francis Gary Powers. Hailed...