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...enjoying an economic recovery that, for all its modesty, promises to accelerate this year and endure well into 1987. And, thanks to falling oil and commodity prices, inflation is expected to drop further. That was the encouraging assessment presented by TIME's European Board of Economists at its twice-yearly meeting, which was held this time in Madrid to mark Spain's and Portugal's entrance into the European Community...

Author: /time Magazine | Title: Heading into the Straightaway | 6/21/2005 | See Source »

While most Congressmen acknowledge this need, some are trying to bring black programs under closer scrutiny. Last week a House Armed Services panel met twice to grill Defense officials on the management of the clandestine projects. One reason for the concern is the astounding growth of the programs during the Reagan Administration. According to an analysis of the Pentagon budget by the National Journal, black budgets for researching, developing and procuring secret weapons increased from a mere $892 million in 1981 to $8.6 billion for the up-coming fiscal year. Legislators are concerned that major strategic and budgetary decisions...

Author: /time Magazine | Title: Keeping Programs in the Black | 6/21/2005 | See Source »

...joined on Jan. 1, or be a "second-rate" partner. Another official hinted that Barcelona would lose its bid for the 1992 Olympics and that plans for a World's Fair in Seville would be scuttled. González, in a last, powerful address that mentioned the Atlantic Alliance only twice and peace 40 times, warned darkly of "political instability," which is something the Spaniards, now in their tenth year of democracy, have reason to fear. Lamented one opposition leader: "They have warned us of everything except an invasion of AIDS...

Author: /time Magazine | Title: Spain: A Stunning Win for NATO | 6/21/2005 | See Source »

...rolling countryside surrounding Florence is the perfect spot for lovers to stroll. Basking in warm breezes under starry nights, couples walk along the winding paths and recline in meadows. The area is also a mecca for campers. This year, however, local lovers and lovers of nature are thinking twice before taking their pleasures alfresco. Italians are simultaneously repulsed and riveted by an 18-year string of ghoulish murders around Florence. With the camping season about to start, Italy is anxiously looking toward that city...

Author: /time Magazine | Title: Italy: The Monster of Florence | 6/21/2005 | See Source »

...exploded, however, and it produced no casualties. An American diplomat was shot in the North Yemen town of San'a, though by week's end he seemed likely to survive. In the southeastern French city of Lyons, a British regional director of the American firm Black & Decker was shot twice in the head. And on Saturday, in the same city, a bomb was set off at the local American Express office. While none of the attacks were necessarily mounted by Libyans, or even by Libyan sympathizers, all suggested that a new fury of terrorist activity had been unleashed...

Author: /time Magazine | Title: Libya: Nearly All Together Now | 6/21/2005 | See Source »

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