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...will almost certainly grant the urgent request, but will probably impose stringent conditions under which the Callaghan government will have to run the economy. Earlier this year the Group of Ten (industrial nations) had set up a credit line of $5.3 billion for Britain to be used as a weapon against the rapid deterioration of what was at one time the world's mightiest and proudest currency. About $1.23 billion of that total already borrowed by Britain must be paid back by December. Part of the debt will have to be paid with the new loan applied for last...

Author: /time Magazine | Title: BRITAIN: Saga of the Plunging Pound | 10/11/1976 | See Source »

Last week's sell-off was attributed mainly to the perception of international bankers and investors that Callaghan's Labor Party government, split between warring radical leftists and moderates, was less serious than it professed to be about applying stringent policies for controlling inflation. Those policies -among them wage and price controls -were effective up to a point; the rate of inflation has been slowed from 23% a year ago to 13.8% now. Also, Healey has announced ambitious plans for even more cuts in the 1977-78 budget...

Author: /time Magazine | Title: BRITAIN: Saga of the Plunging Pound | 10/11/1976 | See Source »

...black doctors and asked that white doctors examine them. Blacks were insulted; by using such words as awarding diplomas on a charitable basis, Davis had cheapened the blacks' hardwon gains. And students, who believed Davis's comments would lead admissions people to reevaluate their minority programs and adopt more stringent standards, felt compelled to correct the situation...

Author: By Jim Cramer, | Title: Underneath the Davis Affair | 9/24/1976 | See Source »

...black doctors and asked that white doctors examine them. Blacks were insulted; by using such words as awarding diplomas on a charitable basis, Davis had cheapened the blacks' hardwon gains. And students, who believed Davis's comments would lead admissions people to reevaluate their minority programs and adopt more stringent standards, felt compelled to correct the situation...

Author: By Jim Cramer, | Title: Underneath the Davis Affair | 9/20/1976 | See Source »

...government decree aimed at keeping potential subversives out of public service jobs. Universally known as the Radikalenerlass (radicals' decree), its tough guidelines have actually barred a mere 428 job applicants out of a total of 496,000. Even though other European democracies -notably France-have taken equally stringent actions to protect themselves from internal subversion, the decree has recently triggered mounting outrage both within and outside Germany...

Author: /time Magazine | Title: GERMANY: The Radicals Issue | 7/5/1976 | See Source »

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