U.S.
  • Full Archive
  • Covers


GRAPEVINE

  • Print
  • Email
  • Share
  • Reprints
  • Related

VACLAV HAVEL

Czechoslovakia's President bluntly told his citizens to expect bitter hardship: "What a year ago seemed to be a dilapidated house is in fact a ruin." As the country rapidly moves to free markets, he admitted, "inflation will grow despite all measures designed to curb it."


Connect to this TIME Story

Interact with
this story

  • Facebook







Get the Latest News from Time.com
Sign up to get the latest news and headlines delivered straight to your inbox.

Quotes of the Day »

President GEORGE BUSH, encouraging the American people to have confidence in the economy during a "deeply unsettling period"




U.S.
  • Full Archive
  • Covers