Word: switzerland
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Dates: during 1960-1969
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...Russians also ruled out expanded trade with the West. Moreover, Brezhnev demanded the ouster of two key liberals: National Assembly President Josef Smrkovsky and Ota Sik, the architect of Czechoslovakia's economic reforms, who retains a seat on the Central Committee despite his self-imposed exile in Switzerland since Russia's invasion. As he was about to fly home for the meeting last week (''He had his ticket in his pocket," said a Swiss official), Sik was warned that he faced disciplinary measures under a new order to "investigate" political figures who live abroad...
...Protestant theologian who labored quietly in university towns of Switzerland and Germany for half a century. The other was a Roman Catholic monk who worked hermitlike on his writings in the hills of central Kentucky. But while Karl Barth gave his life to scholarship and Thomas Merton to contemplation, both men were Christian activists who found in the Word a command to do. Barth stood courageously against Nazi totalitarianism. Merton drove himself endlessly in championing the cause of the poor and oppressed. On their journey toward their deaths last week, each brought to his age, and to his fellow...
...restrictions on trading by "insiders," for example, corporate officers sometimes buy or sell stock in their own companies through Swiss banks. Other U.S. investors use the banks to sidestep margin requirements. The Government estimates that all foreign banks -in Panama, Nassau and West Germany as well as in Switzerland-account for at least 8% of the transactions on the New York Stock Exchange. In singling out Switzerland, U.S. officials seemed most disturbed about their lack of precise knowledge about all that may be going on. Swiss bankers, Assistant U.S. Attorney General Fred M. Vinson Jr.* told the committee, "are difficult...
That difficulty is understandable. Switzerland owes its famous banking prowess to the soundness of its currency, the secrecy of its financial men and the neutrality of its politicians. Numbered accounts were introduced in the 1930s to thwart Nazi Germany from hunting down assets hidden abroad by its citizens, mostly German Jews. As a rule, only one or two top bank officers know the identity of holders of such accounts. Under Swiss law, those who do know have a "duty to observe silence of professional secrecy." Otherwise they face a fine of up to $5,000 and six months in jail...
...believe that basic changes in the international monetary system can no longer be avoided. Last week Roy Jenkins, British Chancellor of the Exchequer, called for "an urgent review" of the world's monetary arrangements. In varying degrees, that view was echoed in France, West Germany, Italy and Switzerland. More and more, the experts talk of the urgent need to convene another Bretton Woods-style conference, perhaps in Washington, as soon as possible after the Nixon Administration is sworn...