September 25, 1989 |
Citizens of eight West European countries, led by Switzerland, earned more than Americans in 1988, according to figures made available by the World Bank on Friday. Switzerland's per-capita income last year was $20,130, while in the United States per capita income was $14,080. The others ahead of the United States: Luxembourg, $19,960; Sweden, $17,160; Iceland, $16,480; West Germany, $15,880; Norway, $15,250; Denmark, $14,530 and France, $14,130.
February 2, 1996 |
Germany, France Cut Interest Rates: The Bundesbank again cut its key money market rate, reducing it to 3.30% from 3.40%, one day after shaving the rate from 3.55%. The Bank of France lowered its intervention rate, the "floor" rate for French short-term rates, to 4.05% from 4.20%. The moves came a day after the U.S. Federal Reserve Board cut its key interest rates for a third time in six months. All mark an effort by central banks worldwide to prevent economies from slipping into recession.
December 13, 1996 |
President Jacques Chirac, the victim of such a calamitous drop in popularity that he is now distrusted by more than half of the French, went on television Thursday to try to convince his people that he is leading them in the right direction. "We need to modernize, we need to adapt," he said. "If we don't want to understand that France has to adapt to its time, then, it is true--we have no chance to get her running again."
May 18, 1995 |
Jacques Chirac had a promise for everyone as he ran for the French presidency. He vowed he would reduce unemployment, increase wages, lower taxes, encourage entrepreneurs, help society's castoffs, keep the franc strong and cut the national deficit. Now that he has won and taken office, giving conservatives control of the presidency for the first time in 14 years, the question is: Can he deliver?
September 24, 1992 |
The French and German governments took drastic action Wednesday to bolster the French franc as global financial markets continued to roil amid growing concern about the ability of major nations to control their economies. Wednesday's developments demonstrated that the calm predicted last weekend when French voters narrowly approved a treaty that would unite Europe's economies has not materialized. They also discouraged hopes that interest rates in Europe will drop--a move that would give the U.