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April 7, 1986 | ERNEST CONINE, Ernest Conine is a Times editorial writer
Milton Friedman, Nobel Prize-winning economist whose ideas have had a global effect, told a California audience a few nights ago that despite all the talk about the reform of the international monetary system, nobody should lose any sleep waiting for it to happen. Friedman's prophecy is worth keeping in mind during the next few weeks.
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BUSINESS
April 24, 2002 | CHRIS KRAUL, TIMES STAFF WRITER
After a decade of false starts, optimism is running high that Brazil's economy may finally take off this year and enable the nation to get closer to its ambition of becoming a major global economic power. But there's a political caveat: the rising popularity of a far-left candidate in this November's presidential election who has said he would reverse some of the economic reforms of the last eight years if elected.
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NEWS
March 13, 1986 | JUAN de ONIS, Times Staff Writer
"This is the first time in my life that I have seen someone in power do something for the poor," a thin, dark-skinned woman said the other day at the Disco supermarket in Tijuca, a middle-class neighborhood of Rio de Janeiro. Regina dos Santos, 26, was comparing prices stamped on packages of noodles with prices on a government list. The list, published on Feb. 28, puts a ceiling on the prices of more than 1,000 consumer items.
NEWS
June 21, 1998 | SONNI EFRON, TIMES STAFF WRITER
International finance officials meeting here Saturday ratcheted up the pressure on Japan to fix its floundering financial sector fast, with U.S. Deputy Treasury Secretary Lawrence Summers warning that Japan's window of opportunity for reform won't last.
NEWS
June 21, 1998 | SONNI EFRON, TIMES STAFF WRITER
International finance officials meeting here Saturday ratcheted up the pressure on Japan to fix its floundering financial sector fast, with U.S. Deputy Treasury Secretary Lawrence Summers warning that Japan's window of opportunity for reform won't last.
BUSINESS
April 21, 1986 | JUAN de ONIS, Times Staff Writer
President Jose Sarney, bursting with optimism, has declared inflation dead in Brazil. Six weeks after the government's dramatic monetary reform of Feb. 28, Sarney said in a televised speech last week that the cost of living during March had been rolled back by 1.48%. In February, prices went up by 15%. This was the first time since the world economic crisis of 1929 that Brazilians have experienced a price contraction.
BUSINESS
February 10, 1988 | WILLIAM D. MONTALBANO, Times Staff Writer
A 40-year-old dream of bringing arithmetical simplicity to the Italian lira is being revived here as a celebration of national economic maturity. The government of Prime Minister Giovanni Goria proposes to remove three awkward zeroes from the lira. Zero-stripping is most common in Latin America, where it is often required by runaway inflation. In Italy, in contrast, the Goria government argues that economic stability and the conquest of inflation are the reasons that it is possible.
NEWS
February 7, 1986 | BILL SING, Times Staff Writer
President Reagan's call this week for a study of a possible international monetary conference has strengthened a movement demanding a curb on volatile exchange rates, monetary experts said Thursday. Although the volatility has disrupted world trade and swelled the U.S. trade deficit, chances of a major overhaul, such as a return to fixed exchange rates, are seen as extremely slim.
BUSINESS
November 16, 1992 | JAMES RISEN, TIMES STAFF WRITER
When President-elect Bill Clinton moves into the White House in January, the Democratic Party will gain control of all of the major levers of economic policy-making, with one critical exception--the Federal Reserve Board. In fact, it appears that the nation's independent central bank could be controlled by appointees of Ronald Reagan and George Bush throughout Clinton's four-year term. In addition, conservatives dominate key posts in many of the Fed's influential regional banks.
BUSINESS
April 15, 1998 | ART PINE, TIMES STAFF WRITER
The Clinton administration on Tuesday proposed modest changes in the international financial system designed to help prevent the kind of economic turmoil that has enveloped several Asian countries in recent months. The package, outlined in a speech by Treasury Secretary Robert E. Rubin, includes measures aimed at forcing big international banks and other investors to assume greater losses when they have made shaky loans--a politically charged issue in Congress.
BUSINESS
April 15, 1998 | ART PINE, TIMES STAFF WRITER
The Clinton administration on Tuesday proposed modest changes in the international financial system designed to help prevent the kind of economic turmoil that has enveloped several Asian countries in recent months. The package, outlined in a speech by Treasury Secretary Robert E. Rubin, includes measures aimed at forcing big international banks and other investors to assume greater losses when they have made shaky loans--a politically charged issue in Congress.
BUSINESS
October 2, 1997 | DAVID HOLLEY, TIMES STAFF WRITER
Despite U.S. criticism, Asian nations are planning to set up a regional monetary fund modeled after the $17.2-billion Japanese-led rescue package cobbled together in August for Thailand's troubled economy, Japan's Finance Ministry said Wednesday. A proposal for an "Asian Monetary Fund" of as much as $100 billion was a hot topic of discussion at an International Monetary Fund meeting in Hong Kong last month.
BUSINESS
March 10, 1995 | TYLER MARSHALL, TIMES STAFF WRITER
It has been dubbed a dollar crisis, but one of the biggest casualties of the recent turmoil on the world's money markets may be Europe's trouble-plagued effort to create a single currency. The dream that the 15 member states of the European Union can achieve a unified currency by the end of the century is still alive amid the wreckage of the past week, but it has clearly suffered another setback.
BUSINESS
August 3, 1993 | JAMES FLANIGAN
One really important outcome of Europe's latest readjustment of currencies--and visions--may well be fulfillment of the promise of the Berlin Wall's fall in 1989. The 12-nation European Community may climb out of deep recession, thanks to the abandonment of a narrow currency agreement that was strangling its major economies, causing nearly 12% unemployment in France.
BUSINESS
August 3, 1993 | SCOT J. PALTROW, TIMES STAFF WRITER
The European currency system all but died over the weekend--and with it immediate hopes for European economic and political union stalled. And while some European leaders woke up Monday in a vituperative mood, currency traders around the globe were reflective, pausing from their frenzy to sort out the meaning of the exchange mechanism's collapse. The French franc lost 2% of its value against the German mark, and other weak European currencies fell as well.
BUSINESS
August 2, 1993 | TOM PETRUNO
The latest crisis that has enveloped European currency markets has far greater potential ramifications than may be obvious. This is about much more than how many French francs it takes to buy a German mark. Here are some questions and answers about the possible short-term and long-term impact of the currency crisis on investors in the stock and bond markets here and abroad, and on the U.S. and global economies: Q: What is likely to happen next in Europe?
BUSINESS
October 2, 1997 | DAVID HOLLEY, TIMES STAFF WRITER
Despite U.S. criticism, Asian nations are planning to set up a regional monetary fund modeled after the $17.2-billion Japanese-led rescue package cobbled together in August for Thailand's troubled economy, Japan's Finance Ministry said Wednesday. A proposal for an "Asian Monetary Fund" of as much as $100 billion was a hot topic of discussion at an International Monetary Fund meeting in Hong Kong last month.
NEWS
February 8, 1992 | From Times Wire Services
European Community ministers signed a treaty Friday on political and monetary union, cementing the EC's plans to create a super bloc with a single market, one currency and a unified voice for more than 300 million people. The Treaty on European Union was signed by foreign and finance ministers of the EC's 12 member states at a ceremony in this southern Dutch market town.
NEWS
August 2, 1993 | JOEL HAVEMANN, TIMES STAFF WRITER
In a desperate effort to salvage Europe's quest to become a unified economic power on the world stage, European Community finance ministers decided early today to radically alter their currency system. The decision to loosen the system's ties to Germany's strong currency--and high interest rates--will leave France and other EC countries free to pursue economic policies, particularly low interest rates, aimed at pulling them out of recession. That in turn could help the anemic U.S.
NEWS
August 2, 1993 | TOM PETRUNO, TIMES STAFF WRITER
Here are answers to some key questions about the disarray in Europe's currency markets: Question: What does the crisis mean for the U.S. economy? Answer: U.S. firms should benefit if the crisis leads, as expected, to lower interest rates in Europe. This would spur Europe's economy and raise demand for U.S. goods. Also, the expected additional devaluation of key European currencies will mean that Americans traveling on the Continent can buy more with their dollars.
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