1992 Miracle Yearbook

Economic Summit Leadersofthe world'sseven largest industrial democracies began arriving in London on July 14,1991,for the July 15- 17 economic summitfocusing on aid for the Soviet Union. Mikhail Gorbachev made a two-hour presentation to the leaders of the United States, Britain, Canada,France, Ger- many, Italy and Japan that closely followed the 23-page letter he had sent to each of them the week before. By the close ofthe summit, the Group of Seven had of- fered Gorbachev technical as- sistance as a special associa- tion with the International Monetary Fund,but not the enor- mouseconomicaidhehadsought. Althoughfinancial aid wasnot forthcoming,Ljubo Sirc,director of the center for Research into CommunistEconomies,said,"The very fact that this meeting has taken place has improved the chances for the Soviet Union to attract investment." "It always makes a difference when the posers that be in West- ern countries become interested in thefate ofacountry with which to trade. Businessmen become aware ofthe possibilities." Chancellor Helmut Kohl will host the next summit in Munich, Germany in July 1992. LEADERS OFTHE WORLD'Sseven largest industrial democracies began arriving in London on July 14, 1991,for the July 15-17 economic summit focusing on aid for the Soviet Union. 11O27 Student Life CONVOYSOFSOVIET TANKS moved into Moscow,less than two miles from the Kremlin. THESTATUE OFTHE FOUNDER of the KGB was toppled while thousands of Muscovites watched.