Money: Where It Isn't

The European money market is running out of money. Items:

> In West Germany, credit is so tight that Frankfurt last week canceled plans to build a new subway system, while Düsseldorf was forced to call off construction of a new city hall, auditorium and athletic stadium. The credit squeeze is even tougher on private industry. Corporations with Triple-A credit ratings are offering 9% interest and are still unable to raise the money they need for capital expansion. Thus, capital investment this year will drop to its lowest level since World War II. Order backlogs are falling, and the rise...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!