Italy Receives Financial Aid To Curb Inflationary Trends
Page 3
By Phil Newsom UPI Foreign News Analyst
The end of the first 100 days of Italian Premier Aldo Moro's center-left government finds important changes occurring, both in the nation's "miracle" economy and among its left-wing political parties.
Italy's economic growth in recent years has surpassed even that of France and West Germany. But it also has led to galloping inflation which recently has caused a flight of capital and a trade deficit threatening her gold and dollar reserves.
Over the weekend, the United States and a number of European banks moved to tide Italy over its financial emergency until the government's own attempts to put on the inflation brakes take hold.
The government's own efforts have included new taxes to help meet a budget deficit and measures to curb consumer spending.
THE HELP CAME in the form of a billion dollars in credit designed to halt speculation in the Italian Lira.
Particularly hard hit was the booming business in new automobiles which rapidly has been converting Italy to a nation on wheels
The curbs include tightened restrictions on instalment buying, a new auto sales tax and vastly increased gasoline taxes.
Leaders representing 40 per cent of the party membership announced in January they were breaking away from the Nenni leadership and forming a party of their own to be known as the Italian Socialist Party of Proletarian unity.
THE AUSTERITY measures have brought complaints from both labor and business and have led to strains within the Moro government in which left-wing socialists are participating for the first time since the years just after World War II.
However, since there seems no practical alternative to the center-left cooperation of Socialists and Christian Democrats, the government is expected to survive and there are hopes that steps to hail the inflationary spiral have been taken in time.
Directly connected with Socialist Leader Fietro Nenni's decision to lead his left-wing party into the government has been an important party split.
IT GAVE ITALY three socialist parties, including the democratic Socialists of Giuseppe Saragat who now is Italian foreign minister. Nenni is a deputy premier.
Outside the government, but pressuring for a voice, are the Italian Communists who themselves are split.
One out of four Italians votes Communist, but in the party conference which ended Sunday in Naples there were complaints of a declining membership and charges that the leadership had lost touch with the people.
Chi Omegas Begin Work On Construction of Wing
Erected in 1925, the Chi Omega sorority house is now undergoing its first major addition.
The construction, which began Feb. 27, should be completed by next September, Mrs. Paul R. Dring,
1654 University Drive and a member of the corporation board of the Chi Omega, said.
The new addition became necessary, Jo Lynne Talbott, Shawnee Mission senior, and a member of Chi Omega, said, because the original building was constructed to handle only 48 women. There are 60 women living in the present chapter house.
Miss Talbott explained that when the new addition is finished the capacity of the house will be 70 women, and each room will provide living quarters for two women.
An important element in the debate was the split between a pro-Chinese faction and the leadership of Palmiro Togliatti, the Communist veteran who cautiously advocates the co-existence line of Nikita Khrushchev.
The $125,000 project includes a
large dining room and kitchen on the ground floor, and five new bedrooms and a bath on both the second and third floor, Mrs. Dring said.
"Basically, it will make the house look double its present size," Mrs. Dring said. She explained that the new wing will be constructed to look as much like the present house as possible.
Thursday, March 19.1964 University Daily Kansan
The new wing will be constructed so that it will connect with the north side of the present house. Mrs. Dring said. It will not be necessary to knock out the present north side of the house completely. Mrs. Dring explained. "There will just be enough construction to connect the hallways," she said.
There will also be some remodeling of the housemother's quarters and the area directly right of the main entrance to the house, Mrs. Dring said.
Khrushchev's suggestion that Italian Communists improve their relations with the Catholic church in a spirit of coexistence view little public reaction from the delegates. It had been interpreted as a move by Khrushchev to improve Communist chances for a role in government and to check the pro-Chinese.
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