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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - June 12, 1974, Lethbridge, Alberta Wednesday, June 12, iHt LEiHBRIDGE HERALD Crisis and gloom Fallen premier Rumor, left, and Finance Minister Colombo Chaos in Italy ROME (AP) Italy s leaders on Tuesday faced the job of forming a new government to cope with mounting economic problems that swamped the government of Premier Mariano Rumor The stock market, reacting to Rumor's resignation, dropped another three per cent to a 1974 low Tuesday and the lira declined further The government's resignation came in an atmosphere of crisis and gloom Inflation in Italy is running at 20 per cent a vear the lira has slumped 18 per cent, and the foreign trade deficit is more than SI billion a vear cannot afford to spare any effort to save ourselves, said Gianni Agnelli, chairman of the Fiat auto company. Italy's biggest private employer Hopes for quick formation of a new government dimmed Tuesday when the Socialist partv said it is unlikely to return to a coalition with Rumor's Christian Democrats Politicians speculated the dominant Christian Democrats may try to form a one-party minority government to muddle through until the centre- left can resolve its differences I do not see the possibility of rebuilding the current the outgoing budget minister Socialist Antonio Giohtti, told reporters The most likelv possibility is a minority government of Christian Democrats leaving other parties to negotiate with them some form of parliamentary support single party commands a majority in Italv The alliance of Catholics and Socialists has ruled the countn for most of the past decade but has been unable to slow the pace of economic slump and extremist vio- lence A clash over economic led to the downfall of Rumor s three-month-old government Monday, with the Christian Democrats and the Socialists stalemated over whether inflation can be checked without increasing unemployment Giolitti's statement ended hopes that the centre-left parties might again succeed in rapidly joining forces It took Rumor only 10 days to reunite his coalition partners last March after the collapse of his fourth government President Giovanni Leone began talks with leading politicians concerning appointment of a new premier-designate He is expected to announce his choice later this week Politicians now are awaiting the results of weekend elections on the island of Sardinia, when about 750.000 voters will elect a regional government a month after a countrywide referendum on divorce shook the political scene STAMPEDE to Ranch Red Atco Ranch Red Steel Roofing and Siding 34" WIDE V RIB IN LENGTHS OF 8', 10', 12' Sears Sports Coats and Co-ordinates '40 33% off Sport Jacket and Co-ordinates 40% off Sport Jacket to Larqe selection of polyester and wools. Check Lightweight jacket with wide lapel centre vent If o on nonniarc and Tails Checks design. Red, Blue, Rust, Brown. Size f Regulars and Tails Reg K6Q. TO 40% off Sport Suits and Co-ordinates to Machine washable clothes by Jantzen Plains and Checks Navy, Beige, Grey, Brown, Gold 36 to 46 Reg. S70 to only per lineal foot at UNITED FARMERS !N LETHBRIDGE JUNE 12, 13, 14, 15, 1974 GREAT STEALS ON GALVANIZED STEEL TOO' 7WPER LINEAL FOOT IN 8' 10' 12 14 16 LENGTHS .11 Simpsons satisfaction or money refunded Simpsons-Sears Ltd Store Hours: Open Daily 9'30 a.m to p.m. Thursday and Friday a.m. to p.m. Centre Village Telephone 328-9231 ;