Innsbruck, March 1, 1985
The High Flight
The U.S. Dollar is presently on a high flight. The psychological threshold of 3 DM to the Dollar has been passed for a long time. Today one gets for 1 Dollar 3.32 DM, 10.18 French Francs, 2,020 Italian Lira, or 23.20 Austrian Schilling. The exchange rate is fluctuating like a temperature curve. It remains, nevertheless, on highs that have not been seen in fifteen years. The high Dollar exchange rate also has its drawback. It upsets the balance of payments and heats up inflation, while prices for trade can hardly be calculated in advance. The United States is being flooded with imports, drastically increasing the trade deficit. Nonetheless, the trust in the Dollar as reserve currency for world trade and in the political stability of The United States has not been so strong for a long time. The extraordinary high flight of the Dollar cannot be sustained for the long run. Whether the exchange rate of the Dollar will fall as fast as it has risen will be seen in a few months from now.
March 11, 1985
The Succession of Generations in the Kremlin
Today at noon, the news was broadcast that the Head of State of the Soviet Union and Chief of the Communist Party Konstantin Chernenko has died. After only 13 months, the USSR has again to deal with a change in the leadership of the State and the Party. Without wasting time and certainly not without being prepared, today Mikhail Gorbachev was appointed to succeed Chernenko in office. With Gorbachev, age 54, a succession of generations is about to begin in the Kremlin.
March 21, 1985
The Bach Year
Three hundred years ago today, Johann Sebastian Bach was born in Eisenach. The numerous musical performances and commemorative events on this tercentenary celebration vividly call to mind the monumental work of Johann Sebastian Bach. Bach sounds old and yet also surprisingly modern. His influence on Western musical culture can hardly be fully measured. Especially by his sacred music, Bach has also become in America an integral part of the general culture.
Innsbruck, March 29, 1985
Marc Chagall (1887 - 1985)
Yesterday, Marc Chagall, at the age of 97, has died in Southern France. With him, one of the most headstrong and significant figures of the visual arts in our century has passed away. Chagall’s form and intensive colors are unmistakable. His paintings radiate a poetic touch; his freely floating figures have a magic, mystical effect. Wherever one encounters Chagall - in Zurich, New York or Chicago - , he leaves an unforgettable impression.
Commentary
[Marc Chagall was born on July 7, 1887, in the Russian city of Vitebsk on the Daugava River. He was first trained in St. Petersburg, but came to Paris as early as 1910. Chagall spent most of his life in France. He moved to Southern France in 1939. An invitation from The Museum of Modern Art in New York in 1941 made it possible for him to come with his family to America. When he returned to Southern France in 1947, he chose Vence near Nice as his permanent residence. Based on his profound religious feelings, he used many themes and motifs from the Old Testament in his art. Chagall’s works are spread throughout the world. One may come across his stained glass works, paintings, mosaics, and murals in churches, synagogues, on public squares, in theaters and opera houses in Europe as well as in America. In 1966 Chagall created the two large murals, “The Triumph of Music,” for the new Metropolitan Opera in Lincoln Center in New York. The famous painting from his early creative period, “The Rabbi of Vitebsk” (1914), can be seen in the Art Institute of Chicago. Marc Chagall died on March 28, 1985, in Vence, Southern France.]
March 29, 1985
The Europe of 12
After a marathon session last night in Brussels, Spain and Portugal have been admitted to the European Community (EC). The EC has now increased to 12 members. Thus, the fragmented Europe is gradually becoming a credible unified whole. Especially the Southern expansion, including the Iberian Peninsula in the Community, may have a positive effect upon Europe. After centuries of isolation, an area with a rich cultural tradition will be revived in the general European consciousness. Spain and Portugal, on their part, will be connected to the modern economy and the advanced technological development of the European Community.