Word: setbacks
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Baker appeared to undergo another setback with last month's decision of major U.S. banks, led by Citicorp, to write off sizable portions of their < Third World loan portfolios. As a result of that move, many economics experts now think the so-called Baker Plan for developing economies is essentially dead. The Treasury Secretary, however, remains sanguine. He lauded Citicorp's debt write-off, for example, as a "positive" step. One reason: the approach reduces the likelihood of wholesale default by debtor nations...
Fiji's relations with its neighbors have suffered a setback. Air New Zealand has suspended flights to Fiji, and labor unions in Australia, whose government refused to recognize the interim military council, have forced its % planes to fly empty into Fiji before taking normal loads out. Maritime unions in both countries have also banned the handling of cargo going to Fiji. No matter what happens now, the island paradise will never again be quite the same...
...group of anti-apartheid protesters billing themselves as the "Harvard Seven" were dealt a major setback this week when a local judge barred them from using a necessity defense to rebut charges that they unlawfully blockaded a University fundraising dinner at the Fogg Art Museum in November...
...P.F.P. was the official opposition party in the outgoing Parliament, but that role will now be assumed by the Conservatives. The New Republic Party, another liberal group, lost four of its five seats. Acknowledged Progressive Leader Colin Eglin: "I cannot deny that the results pose a major setback for the P.F.P. and the concept of a reform alliance developing into an alternative government. There is no doubt that the election in its totality represents a lurch to the right...
Killed in the gun battle were all eight I.R.A. terrorists, along with a 38- year-old man caught in the cross fire. It was the most serious setback for the I.R.A. in 18 years of sectarian violence in Ulster. Said Tom King, London's Secretary of State for Northern Ireland: "We are determined to ensure that terrorism does...