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Voice of America, 97-05-07

Voice of America: Selected Articles Directory - Previous Article - Next Article

From: The Voice of America <gopher://gopher.voa.gov>


CONTENTS

  • [01] BRITAIN / CENTRAL BANK BY ANDRE DE NESNERA (LONDON)
  • [02] EDITORIAL: SOROS FOUNDATION IN BELARUS
  • [03] EURO STOCKS (S ONLY) BY JACK HUIZENGA (LONDON)
  • [04] GERMANY SPY (L ONLY) BY KYLE KING (BONN)
  • [05] JAPAN / ISLANDS DISPUTE (L-O)CQ BY THOMAS CALDWELL (TOKYO)
  • [06] N-Y ECON WRAP (S & L) BY BRECK ARDERY (NEW YORK)
  • [07] SENATE / BOSNIA WAR CRIMES (L-ONLY) BY DAVID SWAN (CAPITOL HILL)
  • [08] WEDNESDAY'S EDITORIALS BY ANDREW N. GUTHRIE (WASHINGTON)

  • [01] BRITAIN / CENTRAL BANK BY ANDRE DE NESNERA (LONDON)

    DATE=5/7/97
    TYPE=BACKGROUND REPORT
    NUMBER=5-36353
    CONTENT=
    VOICED AT:

    INTRO: LESS THAN A WEEK IN OFFICE, BRITAIN'S RULING LABOUR PARTY HAS ALREADY MADE A SIGNIFICANT CHANGE IN THE RUNNING OF THE COUNTRY'S ECONOMY BY GRANTING THE BANK OF ENGLAND MORE INDEPENDENCE. IN THIS BACKGROUND REPORT FROM LONDON, V-O-A'S ANDRE DE NESNERA LOOKS AT THE MEANING OF CHANGE DESCRIBED BY SOME AS THE BIGGEST SHAKE-UP SINCE THE BANK WAS NATIONALIZED IN 1946.

    TEXT: FOR DECADES, ONE OF THE POWERS GIVEN BRITAIN'S FINANCE SECRETARIES -- KNOWN AS CHANCELLORS OF THE EXCHEQUER -- WAS TO SET INTEREST RATES TO COUNTER INFLATIONARY TRENDS. EVERY MONTH, THE FINANCE SECRETARY WOULD MEET THE GOVERNOR OF THE BANK OF ENGLAND AND THE TWO MEN WOULD DISCUSS THE COUNTRY'S ECONOMIC PERSPECTIVES. BASED ON THOSE DISCUSSIONS, THE FINANCE SECRETARY WOULD THEN DECIDE WHETHER TO CHANGE THE PREVAILING INTEREST RATES.

    THIS ARRANGEMENT ESSENTIALLY KEPT THE BANK OF ENGLAND UNDER THE POLITICAL DOMINATION OF THE GOVERNMENT OF THE DAY. BUT THAT HAS CHANGED AS NEWLY-NAMED CHANCELLOR OF THE EXCHEQUER GORDON BROWN ANNOUNCED THAT EFFECTIVE IMMEDIATELY, THE BANK OF ENGLAND WOULD SET THE COUNTRY'S INTEREST RATES.

    /// BROWN ACT ///

    WE MUST REMOVE THE SUSPICION THAT SHORT-TERM PARTY POLITICAL CONSIDERATIONS ARE INFLUENCING THE SETTING OF INTEREST RATES. THE GOVERNMENT WILL CONTINUE TO SET THE INFLATION TARGET AND THE BANK WILL HAVE THE RESPONSIBILITY FOR SETTING INTEREST RATES TO MEET THE TARGET.

    /// END ACT ///

    THE MOVE EFFECTIVELY GIVES THE BANK OF ENGLAND SOME INDEPENDENCE FROM GOVERNMENT INTERFERENCE. BUT ANALYSTS POINT OUT MR. BROWN'S PROPOSALS FALL SHORT OF THE INDEPENDENCE GRANTED OTHER CENTRAL BANKS. FOR EXAMPLE THE GERMAN BUNDESBANK, THE AMERICAN FEDERAL RESERVE, AS WELL AS THE FRENCH AND ITALIAN CENTRAL BANKS ALSO HAVE THE POWER TO INTERVENE IN FOREIGN EXCHANGE MARKETS AND TO SET INFLATION TARGETS -- WHICH THE BANK OF ENGLAND CANNOT. FOR YEARS, FINANCIAL CIRCLES HERE HAVE BEEN CALLING FOR A MORE INDEPENDENT BANK OF ENGLAND. FORMER CONSERVATIVE CHANCELLORS NIGEL LAWSON AND NORMAN LAMONT ARGUED FOR SUCH A MOVE -- BUT FIRST PRIME MINISTER MARGARET THATCHER AND THEN HER SUCCESSOR, JOHN MAJOR, VETOED THE PROPOSED CHANGES.

    IN AN INTERVIEW WITH BRITISH RADIO, MR. LAMONT WAS UNDERSTANDABLY PLEASED.

    /// LAMONT ACT ///

    I DO NOT THINK THAT LOW INFLATION OUGHT TO BE A MATTER OF POLITICAL ARGUMENT OR POLITICAL DISCRETION. SOUND MONEY IS A PREREQUISITE FOR A SOUND ECONOMY. SOUND MONEY OUGHT TO BE EVERYBODY'S RIGHT AND A SYSTEM THAT DELIVERS THAT AUTOMATICALLY IS ONLY TO BE WELCOMED. OF COURSE, TECHNOCRATS ARE AS FALLIBLE AS ANYONE ELSE -- BUT I BELIEVE THAT THE TECHNOCRATS ARE MORE LIKELY TO GET IT RIGHT THAN THE POLITICIANS. I BELIEVE THESE DECISIONS SHOULD NOT BE IN THE HANDS OF POLITICIANS WHO ARE SUBJECT TO TOO MANY TEMPTATIONS.

    /// END ACT ///

    LONDON FINANCIAL MARKETS HAVE REACTED FAVORABLY TO A MORE INDEPENDENT BANK OF ENGLAND. BUT MANY ANALYSTS WARN IT IS NOT SOME SORT OF MAGICAL SOLUTION FOR ALL OF THE DIFFICULTIES INVOLVED IN PUTTING TOGETHER MONETARY POLICY.

    THE CHIEF ECONOMIST FOR THE JAPANESE BANK D-K-B -- GERARD LYONS SAYS GRANTING THE BANK OF ENGLAND MORE INDEPENDENCE COULD RESULT IN WHAT HE DESCRIBES AS "MONETARY OVERKILL."

    /// LYONS ACT ///

    THEY ARE GOING OUT OF THEIR WAY TO REDUCE INFLATION AND TO REDUCE INFLATION, THEY HAVE GOT ONLY ONE POWER -- ONE INSTRUMENT -- TO DO SO, NAMELY INTEREST RATES. AND THE DANGER IS THAT THAT ALWAYS MEANS THEY COULD PUT INTEREST RATES UP QUITE CONSIDERABLY -- MAYBE GREATER THAN IS REALLY REQUIRED. SO IT MEANS THAT WE COULD WELL SEE AN INDEPENDENT BANK OF ENGLAND UNDER A NEW LABOUR GOVERNMENT COMMITTING ITSELF TO EVEN HIGHER INTEREST RATES AND AT THE SAME TIME PUSHING THE POUND EVEN STRONGER.

    /// END ACT ///

    MR. LYONS SAYS WITH A STRONGER POUND, BRITISH PRODUCTS ARE MORE EXPENSIVE, DECREASING THE AMOUNT OF EXPORTS -- THAT WILL ALSO HAVE A NEGATIVE EFFECT ON THE BRITISH MANUFACTURING SECTOR. SO THE BRITISH ECONOMIST CAUTIONS THAT LETTING THE BANK OF ENGLAND SET INTEREST RATES COULD TURN OUT TO BE A DOUBLE-EDGED SWORD. (SIGNED)
    NEB/ADEN/JWH/RAE
    07-May-97 10:00 AM EDT (1400 UTC)
    NNNN
    Source: Voice of America


    [02] EDITORIAL: SOROS FOUNDATION IN BELARUS

    DATE= MAY 8, 1997
    TYPE= EDITORIAL
    NUMBER= 0-07265
    CONTENT=THIS IS THE FIRST OF TWO EDITORIALS BEING RELEASED FOR
    BROADCAST MAY 8, 1997.

    ANNCR: THE VOICE OF AMERICA PRESENTS DIFFERING POINTS OF VIEW ON A WIDE VARIETY OF ISSUES. NEXT, AN EDITORIAL EXPRESSING THE POLICIES OF THE UNITED STATES GOVERNMENT.

    VOICE:

    ATTACKS BY THE BELARUSIAN GOVERNMENT AGAINST THE SOROS FOUNDATION ARE MOUNTING. THE FOUNDATION IS INVOLVED IN A WIDE RANGE OF ACTIVITIES IN BELARUS AND OTHER NEWLY INDEPENDENT STATES AND EASTERN EUROPE. SINCE ITS CREATION FOUR YEARS AGO, THE BELARUS SOROS FOUNDATION HAS SPENT MORE THAN THIRTEEN MILLION DOLLARS TO SUPPORT DEMOCRATIC REFORMS, THE GROWTH OF A CIVIL SOCIETY, INDEPENDENT MEDIA, CULTURE, AND EDUCATION.

    IN MARCH, THE FOUNDATION'S AMERICAN DIRECTOR WAS HELD INCOMMUNICADO IN MINSK BEFORE BEING EXPELLED FROM BELARUS. BELARUSIAN AUTHORITIES CONDUCTED AN AUDIT OF NON-GOVERNMENTAL ORGANIZATIONS, INCLUDING THE BELARUSIAN SOROS FOUNDATION. RECENTLY, AUTHORITIES LEVIED FINES ON THE FOUNDATION TOTALING SOME THREE-MILLION DOLLARS, ALLEGEDLY FOR CURRENCY VIOLATIONS AND TAX IRREGULARITIES. ACCORDING TO GEORGE SOROS, WHO FINANCES THE FOUNDATION, THE FINE "IS NOT MEANT TO BE PAID. IT IS MEANT TO CLOSE US DOWN. AND IT IS PART OF A CONCERTED CAMPAIGN BY [PRESIDENT ALEKSANDR] LUKASHENKO TO CONSOLIDATE HIS POWER BY SUPPRESSING THE INDEPENDENT SECTOR IN BELARUS."

    TWO OTHER NON-GOVERNMENTAL GROUPS HAVE HAD TO CURTAIL OR SUSPEND OPERATIONS AFTER THE GOVERNMENT OF BELARUS MADE IT NEARLY IMPOSSIBLE FOR THEM TO CONTINUE THEIR WORK. THE U.S.-BASED CITIHOPE DISTRIBUTED FOOD AND MEDICAL SUPPLIES IN BELARUS. BUT IT HAS BEEN TAXED BY BELARUSIAN AUTHORITIES IN VIOLATION OF A U.S.-BELARUS AGREEMENT. CITIHOPE STILL OPERATES AT A MINIMAL LEVEL, FLYING IN MEDICINES FOR CHILDREN SUFFERING LIFE-THREATENING ILLNESSES. THE GERMAN-FINANCED CHILDREN OF CHERNOBYL FUND HAS PLACED THOUSANDS OF ILL CHILDREN IN HEALTH CARE FACILITIES ALL OVER THE WORLD. IT HAS NOW HAD TO SUSPEND OPERATIONS. THE FUND HAS BEEN FALSELY CHARGED BY THE BELARUSIAN GOVERNMENT WITH FINANCIAL IRREGULARITIES.

    THE ACTIONS TAKEN AGAINST THE BELARUSIAN SOROS FOUNDATION AND OTHER NON-GOVERNMENTAL ORGANIZATIONS UNDERMINE EFFORTS TO BUILD A CIVIL SOCIETY BASED ON RESPECT FOR THE RULE OF LAW IN BELARUS. THE UNITED STATES CALLS ON THE GOVERNMENT OF BELARUS TO CEASE ITS DICTATORIAL POLICIES, WHICH WILL ONLY SERVE TO DEEPEN ITS SELF-ISOLATION.

    ANNCR:

    THAT WAS AN EDITORIAL EXPRESSING THE POLICIES OF THE UNITED STATES GOVERNMENT. IF YOU WOULD LIKE TO BE HEARD ON THIS ISSUE, PLEASE WRITE TO EDITORIALS, VOICE OF AMERICA, WASHINGTON, D-C, 20547, U-S-A. YOU MAY ALSO SEND US A FAX AT (202) 619-1043. YOUR COMMENTS MAY BE USED ON THE AIR.
    07-May-97 2:15 PM EDT (1815 UTC)
    NNNN
    Source: Voice of America


    [03] EURO STOCKS (S ONLY) BY JACK HUIZENGA (LONDON)

    DATE=5/7/97
    TYPE=CORRESPONDENT REPORT
    NUMBER=2-213938
    CONTENT=
    VOICED AT:

    INTRO: STOCK PRICES WERE OFF TUESDAY IN PARIS AND FRANKFURT, BUT THEY ROSE IN LONDON. V-O-A'S JACK HUIZENGA HAS THE DAY'S STOCK MARKET REPORT FROM WESTERN EUROPE.

    TEXT: STOCK PRICES IN LONDON SET NEW RECORD CLOSING HIGHS FOR THE THIRD CONSECUTIVE DAY.

    ANALYSTS SAID TRADERS IN LONDON STILL ARE ENCOURAGED BY THE NEW LABOUR GOVERNMENT'S DECISION TO TAKE INTEREST RATE POLICY OUT OF THE POLITICAL ARENA. THE FOOTSIE-100 INDEX ENDED THE DAY UP MORE THAN 18 POINTS, FOUR-TENTHS OF ONE PERCENT.

    BUT PRICES WERE OFF IN BOTH FRANKFURT AND PARIS.

    IN FRANKFURT, THE DAX-30 INDEX ENDED FLOOR TRADING DOWN MORE THAN 16 POINTS, FOUR-TENTHS PERCENT, AND IT CONTINUED TO FALL IN LATER COMPUTERIZED TRADING, IN PARIS, THE CAC-40 INDEX WAS OFF ALMOST NINE POINTS, JUST OVER THREE-TENTHS PERCENT.

    ON THE LONDON CURRENCY EXCHANGE, THE U-S DOLLAR DROPPED IN VALUE AGAINST THE GERMAN MARK AND THE JAPANESE YEN. BUT IT ROSE A LITTLE AGAINST THE BRITISH POUND. (SIGNED)
    NEB/JWH/KL
    07-May-97 1:18 PM EDT (1718 UTC)
    NNNN
    Source: Voice of America


    [04] GERMANY SPY (L ONLY) BY KYLE KING (BONN)

    DATE=5/7/97
    TYPE=CORRESPONDENT REPORT
    NUMBER=2-213930
    CONTENT=
    VOICED AT:

    INTRO: GERMAN PROSECUTORS ARE CALLING FOR A THREE-AND-ONE-HALF YEAR JAIL TERM FOR FORMER EAST GERMAN SPYMASTER MARCUS WOLF. V-O-A'S KYLE KING REPORTS FROM BONN.

    TEXT: IT IS PROBABLY THEIR LAST CHANCE TO PUNISH THE LEGENDARY EAST GERMAN SPY CHIEF, WHO GERMAN AUTHORITIES HAVE BEEN TRYING TO JAIL SINCE 1992.

    PROSECUTORS SAW THE ESPIONAGE CHARGES IN THEIR LATEST CASE DROPPED BY A COURT LAST WEEK. BUT THEY SAY MARCUS WOLF SHOULD BE SENTENCED TO THREE-AND-ONE-HALF YEARS IN PRISON FOR HUMAN RIGHTS VIOLATIONS.

    IN THEIR FINAL ARGUMENTS TO THE COURT, PROSECUTORS CITED SOME OF THE MOST SPECTACULAR CASES OF COLD WAR GERMAN ESPIONAGE.

    PROSECUTORS SAY MARCUS WOLF -- AS HEAD OF THE FEARED EAST GERMAN INTELLIGENCE SERVICE -- WAS RESPONSIBLE FOR THE 1962 KIDNAPPING OF A FORMER AGENT WHO HAD DEFECTED TO THE WEST.

    PROSECUTORS ALSO HOLD MR. WOLF RESPONSIBLE FOR THE ABDUCTION OF A TRANSLATOR AT A U-S AGENCY IN WEST BERLIN AND AN EAST GERMAN WRITER LIVING IN NORWAY.

    AUTHORITIES DENY THE LONG-RUNNING CASE AGAINST THE 74-YEAR-OLD MR. WOLF IS BASED ON REVENGE. THEY SAY HE SHOULD BE JAILED OUT OF RESPECT FOR THE VICTIMS OF THE ONCE FEARED EAST GERMAN SPY AGENCY.

    LAWYERS FOR MR. WOLF WILL MAKE THEIR FINAL ARGUMENTS TO THE COURT IN TWO WEEKS, AND A VERDICT IS EXPECTED BY THE END OF THE MONTH. IF HE IS NOT CONVICTED IN THIS CASE, LEGAL EXPERTS SAY HE PROBABLY NEVER WILL BE.

    /// REST OPT ///

    MR. WOLF, WHOSE LEGENDARY LIFE WAS THE SUBJECT OF MANY SPY NOVELS, WAS CONVICTED OF TREASON AND ESPIONAGE IN 1993.

    BUT THE GERMAN CONSTITUTIONAL COURT THREW OUT THE CONVICTION AND THE SIX-YEAR JAIL TERM IN 1995, RULING THAT AS AN EAST GERMAN, HE COULD NOT BE PROSECUTED FOR BREAKING WEST GERMAN LAWS. THE CHARGES HE FACES NOW ARE BASED ON INTERNATIONAL HUMAN RIGHTS STANDARDS. (SIGNED)
    NEB/KBK/JWH
    07-May-97 10:49 AM EDT (1449 UTC)
    NNNN
    Source: Voice of America


    [05] JAPAN / ISLANDS DISPUTE (L-O)CQ BY THOMAS CALDWELL (TOKYO)

    DATE=5/7/97
    TYPE=CORRESPONDENT REPORT
    NUMBER=2-213923
    CONTENT=
    VOICED AT:

    /////

    ADDS GOUP OF ISLANDS TO TEXT GRAF 1, CHANGES DAY TO TUESDAY IN FINAL TEXT GRAF. /////

    INTRO: THE VISIT TO A SMALL GROUP OF BARREN, DESERTED, ROCKY ISLANDS BETWEEN JAPAN AND TAIWAN BY A JAPANESE LAWMAKER IS BEING TERMED "ILLEGAL" BY HIS GOVERNMENT. THOMAS CALDWELL REPORTS FROM TOKYO.

    TEXT: THE VISIT BY A JUNIOR MEMBER OF JAPAN'S PARLIAMENT TO A GROUP OF REMOTE ISLANDS AT THE SOUTHERN MOST PART OF THE JAPANESE ARCHIPELAGO HAS TURNED INTO A FOREIGN RELATIONS NIGHTMARE FOR THE NATION'S GOVERNMENT.

    ALTHOUGH STILL CLAIMING SOVEREIGNTY OVER THE DISPUTED ISLANDS, THE JAPANESE GOVERNMENT IS CALLING DIET MEMBER SHINGO NISHIMURA'S LANDING ON ONE OF THE ISLANDS AN ILLEGAL ACT. AT A NEWS CONFERENCE IN TOKYO, GOVERNMENT SPOKESMAN SEIROKU KAJIYAMA SAID FROM A FOREIGN AFFAIRS POINT OF VIEW MR. NISHIMURA'S ACTIONS WERE NOT A GOOD IDEA.

    THE ISLANDS WHICH ARE LOCATED BETWEEN TAIWAN AND THE JAPANESE ISLAND OF OKINAWA, HAVE BEEN IN DISPUTE SINCE THE END OF WORLD WAR II. CALLED THE SENKAKU BY THE JAPANESE AND THE DAIOYU BY CHINA, THE JAPANESE CLAIM THE ISLANDS HAVE BEEN THEIRS SINCE THE END OF THE LAST CENTURY, WHILE CHINA CLAIMS THE ISLANDS HAVE BEEN THEIR TERRITORY SINCE ANCIENT TIMES.

    MR. NISHIMURA, WITH THREE OTHER PEOPLE, CAME ASHORE TUESDAY AT ONE OF THE REMOTE ISLANDS. THE GROUP PLANTED A JAPANESE FLAG, SPENT TWO HOURS LOOKING AROUND, AND HELD WHAT HAS BEEN TERMED A MEMORIAL CEREMONY.

    THE ACTION INFURIATED ACTIVISTS IN MAINLAND CHINA, TAIWAN, AND HONG KONG WHO CALLED THE LANDINGS ILLEGAL AND A THREAT TO CHINESE SOVEREIGNTY. ONE GROUP OF ACTIVISTS IN TAIWAN STORMED THE JAPANESE GOVERNMENT'S REPRESENTATIVE OFFICE IN TAIPEI AND, WHILE SHOUTING FOR AN END TO JAPANESE IMPERIALISM, PELTED OFFICE EQUIPMENT AND FURNITURE WITH EGGS.

    THE DISPUTE RESURFACED LAST YEAR WHEN A JAPANESE RIGHT-WING GROUP BUILT A MAKESHIFT LIGHTHOUSE ON THE ISLANDS, AN ACTION WHICH LED TO CHINESE ACTIVISTS ARRIVING AND PLANTING THE FLAGS OF TAIWAN AND MAINLAND CHINA.

    MR. NISHIMURA, A RELATIVELY UNKNOWN POLITICIAN UNTIL TUESDAY, IS UNREPENTANT OF HIS ACTIONS. HE TOLD REPORTERS THE JAPANESE GOVERNMENT'S HANDLING OF THE DISPUTE IS NOT THE RESPONSE ONE SHOULD EXPECT FROM A SOVEREIGN STATE. (SIGNED)
    NEB/TC/RAE
    07-May-97 9:18 AM EDT (1318 UTC)
    NNNN
    Source: Voice of America


    [06] N-Y ECON WRAP (S & L) BY BRECK ARDERY (NEW YORK)

    DATE=5/7/97
    TYPE=CORRESPONDENT REPORT
    NUMBER=2-213945
    CONTENT=
    VOICED AT:

    INTRO: STOCK PRICES IN THE UNITED STATES WERE DOWN SHARPLY TODAY (WEDNESDAY) ON HEAVY PROFIT-TAKING AND NEW CONCERNS ABOUT INFLATION. VOA CORRESPONDENT BRECK ARDERY REPORTS FROM NEW YORK.

    TEXT: THE DOW JONES INDUSTRIAL AVERAGE CLOSED AT SEVEN THOUSAND 85, DOWN 139 POINTS, ALMOST TWO PERCENT. THE BROADER AND MORE REPRESENTATIVE STANDARD AND POOR'S 500 INDEX CLOSED AT 815, DOWN 12 POINTS.

    ANALYSTS SAY THAT SINCE THE INDUSTRIAL AVERAGE HAD GAINED ALMOST 250 POINTS SINCE FRIDAY, SOME PROFIT-TAKING WAS INEVITABLE. IN ADDITION, THERE WAS SOME NEW CONCERN THAT A TIGHT LABOR MARKET IN THE UNITED STATES COULD CAUSE INFLATIONARY PRESSURES.

    THE U-S CENTRAL BANK SAYS THE ECONOMY GREW MODESTLY DURING THE PAST TWO MONTHS WITH INFLATION STILL VERY SUBDUED. HOWEVER, IN A SUMMARY OF U-S ECONOMIC ACTIVITY (BEIGE BOOK) THE CENTRAL BANK SAID THERE IS SOME NEW EVIDENCE OF UPWARD PRESSURE ON WAGES.

    BUT RISING WAGE RATES DO NOT ALWAYS MEAN INFLATION IF PRODUCTIVITY INCREASES. THE LABOR DEPARTMENT REPORTED THE PRODUCTIVITY OF AMERICAN BUSINESSES GREW IN THE FIRST QUARTER OF THIS YEAR AT ITS FASTEST RATE SINCE 1993.

    /// REST OPT ///

    IN BUSINESS NEWS, UNILEVER, THE ANGLO-DUTCH CONSUMER PRODUCTS COMPANY, WILL SELL ITS SPECIALTY CHEMICAL BUSINESS TO THE IMPERIAL CHEMICAL COMPANY OF BRITAIN FOR EIGHT BILLION DOLLARS. UNILEVER SAYS IT WILL USE THE MONEY TO ELIMINATE ITS DEBT AND TO SHARPEN ITS FOCUS ON CONSUMER PRODUCTS, ESPECIALLY IN EMERGING MARKETS.

    THE CHRYSLER CORPORATION HAS REACHED A TENTATIVE AGREEMENT WITH THE AUTO WORKERS UNION TO END A MONTH-LONG STRIKE AT AN ENGINE PLANT. THE STRIKE, WHICH HAS CRIPPLED PRODUCTION OF SOME OF CHRYSLER'S MOST POPULAR VEHICLES, IS SAID TO HAVE COST THE COMPANY MORE THAN 300 MILLION DOLLARS IN LOST REVENUE.

    THE AMERICAN STOCK EXCHANGE IS NOW REQUIRING THAT ALL STOCKS MUST TRADE IN INCREMENTS OF ONE-SIXTEENTH OF A DOLLAR INSTEAD OF ONE-EIGHTH AS IS THE CASE AT THE NEW YORK STOCK EXCHANGE AND NASDAQ (NAS-DAK), THE TWO OTHER LARGE U-S STOCK MARKETS. THE AMERICAN STOCK EXCHANGE SAYS THAT BY NARROWING THE DIFFERENCES BETWEEN OFFERS TO BUY AND SELL STOCKS, BOTH BUYERS AND SELLERS WILL GET BETTER DEALS. (SIGNED) NEB/NY/BA/LSF/LWM
    07-May-97 4:54 PM EDT (2054 UTC)
    NNNN
    Source: Voice of America


    [07] SENATE / BOSNIA WAR CRIMES (L-ONLY) BY DAVID SWAN (CAPITOL HILL)

    DATE=5/7/97
    TYPE=CORRESPONDENT REPORT
    NUMBER=2-213943
    CONTENT=
    VOICED AT:

    /// EDS: CAN BE USED WITH GILLIAN SHARPE CRS FROM THE HAGUE ///

    INTRO: WHILE THE U-N TRIBUNAL AT THE HAGUE HAS CONVICTED A BOSNIAN SERB OF WAR CRIMES, DOZENS OF SUSPECTS ARE STILL AT LARGE. AS A RESULT, SEVERAL U-S SENATORS ARE CALLING FOR CUTS IN AMERICAN AID TO ANY FORMER YUGOSLAV REPUBLICS THAT HARBOR ACCUSED WAR CRIMINALS. V-O-A'S DAVID SWAN REPORTS.

    TEXT: THE LAWMAKERS SAY POST-WAR RECONSTRUCTION MONEY SHOULD BE TIED TO THE ARREST AND EXTRADITION OF INDICTED WAR CRIMINALS. DEMOCRATIC SENATOR DIANNE FEINSTEIN (OF CALIFORNIA) SAYS SHE WANTS NO PART OF REBUILDING A COUNTRY WHERE RAPISTS AND OTHER CRIMINALS GO UNPUNISHED.

    // FEINSTEIN ACT //

    YOU HAVE PERHAPS 25-THOUSAND TO 50-THOUSAND WOMEN WHO HAVE BEEN RAPED SYSTEMATICALLY AS AN INSTRUMENT OF WAR. AND YOU HAVE THE MAIN PERPETRATORS OF THIS SYSTEMATIC RAPE FREE AND LIVING RIGHT NEAR NATO CAMPS, RIGHT NEAR AMERICAN FORCES, SOME (ARE) MEMBERS OF POLICE DEPARTMENTS -- AND IT IS WRONG.

    // END ACT //

    A BILL PROPOSED WEDNESDAY WOULD IMPOSE SANCTIONS ON BOSNIA-HERZEGOVINA, CROATIA OR ANY STATE WHERE INDICTED WAR CRIMES SUSPECTS ROAM UNMOLESTED. THE MEASURE WOULD BAN MOST AMERICAN AID TO THE BIG RECONSTRUCTION PROJECTS NOW PLANNED, THOUGH HUMANITARIAN PROGRAMS, SUCH AS FOOD AND LAND MINE CLEARING, COULD CONTINUE.

    AT A CAPITOL HILL NEWS CONFERENCE, TWO BOSNIAN RAPE VICTIMS LENT SUPPORT TO THE PLAN. SPEAKING THROUGH AN INTERPRETER, JADRANKA CIGELJ SAID SHE AND OTHER SURVIVORS HAVE WAITED YEARS FOR JUSTICE.

    // CIGELJ ACT //

    I ASK YOU TO NOT MAKE THE TRIBUNAL IN THE HAGUE A THEATER SPECTACLE, BUT TO HAVE IT BE AN EFFECTIVE INSTITUTION THAT WILL DO ITS WORK.

    // END ACT //

    THE BILL'S SPONSORS SAY IT PROVIDES IMPORTANT LEVERAGE OVER LOCAL AUTHORITIES. DEMOCRATIC SENATOR FRANK LAUTENBERG (OF NEW JERSEY) DENIES SUGGESTIONS IT COULD CRIPPLE THE RECONSTRUCTION, SAYING BOSNIA MUST ALSO REBUILD ITS DEMOCRACY BEFORE ALLIED PEACE-KEEPERS PULL OUT.

    // LAUTENBERG ACT //

    WE'RE OUT OF THERE IN JUNE 1998. WE'D LIKE TO SEE THAT THERE IS A SYSTEM OF LAW AND PROCESS INSTALLED BECAUSE THAT'S THE BEST WAY, I THINK, OF PRESERVING THE DEMOCRATIC CHARACTER.

    // END ACT //

    THE BILL HAS SUPPORTERS IN BOTH PARTIES, BUT FOR NOW IT IS SIMPLY A PROPOSAL. IT IS NOT CLEAR WHEN THE HOUSE (OF REPRESENTATIVES) AND SENATE MAY ACT ON THE PLAN. (SIGNED)
    NEB/DS/RRM
    07-May-97 4:14 PM EDT (2014 UTC)
    NNNN
    Source: Voice of America


    [08] WEDNESDAY'S EDITORIALS BY ANDREW N. GUTHRIE (WASHINGTON)

    DATE=05/07/97
    TYPE=U-S EDITORIAL DIGEST
    NUMBER=6-10149
    TELEPHONE=619-3335
    EDITOR=NEAL LAVON
    CONTENT=
    // EDITORS, PLEASE NOTE: THIS IS PERISHABLE MATERIAL AND BECOMES DATED AFTER 10 P-M E-D-S-T ON WEDNESDAY MAY SEVENTH //

    INTRO: THE SITUATION IN ZAIRE IS A POPULAR EDITORIAL TOPIC AT MIDWEEK IN THE U-S PRESS, WHILE OTHER PAPERS ARE DISCUSSING SUCH THINGS AS THE RECENTLY-CONCLUDED FEDERAL BUDGET AGREEMENT AND A POTENTIAL ARMS SALE TO LATIN AMERICA; [OPT] AS WELL AS THE WEBSTER HUBBELL CONTROVERSY. [END OPT]

    THERE ARE ALSO EDITORIALS COMMENTING ON POLICY TOWARDS NORTH KOREA; AND HOPES FOR THE EFFORT TO NEGOTIATE A SETTLEMENT IN NORTHERN IRELAND.

    NOW, HERE IS ____________________ WITH A CLOSER LOOK AND SOME QUOTES IN THIS WEDNESDAY'S EDITORIAL DIGEST.

    TEXT: WITH ZAIRE'S PRESIDENT MOBUTU SESE SEKO TRAVELING OUT OF THE COUNTRY FOR A CONFERENCE ON THE FUTURE OF HIS WAR-TORN LAND, REBEL FORCES ARE DESCENDING ON THE CAPITAL OF KINSASHA. SEVERAL PAPERS ARE SPECULATING HE MAY NEVER RETURN. ONE IS THE WASHINGTON POST, WHICH SUMS UP ITS FEELINGS THIS WAY:

    VOICE: "ABOUT MR. MOBUTU, NO FURTHER DISCUSSION IS NECESSARY. HE IS KNOWN FOR WHAT HE IS, AN AFRICAN RULER WHO EXPLOITED THE WEST'S POST-COLONIAL ANXIETIES FOR HIS OWN POWER AND ENRICHMENT. WASTING FROM CANCER, HE DESERVES EXILE AND PEACE. MR. KABILA IS MUCH LESS KNOWN AND HAS A CHANCE TO DO MUCH BETTER IF HE CAN BREAK THROUGH THE WALL OF PRIDE THAT OFTEN SEPARATES SUCCESSFUL MILITARY 'LIBERATORS' FROM THE ELEMENTS WHO HAD STRUGGLED IN PROTRACTED FRUSTRATION IN THE POLITICAL OPPOSITION. HE HAS TO DEMONSTRATE SWIFTLY ... THAT HE IS PREPARED TO MOVE ZAIRE INTO A NEW WORLD."

    TEXT: WHILE THE NEW YORK TIMES VIEWS THE IMMEDIATE FUTURE OF THE COUNTRY AS A BIG QUESTION MARK; BETWEEN DEMOCRACY OR TYRANNY.

    VOICE: "AS LAURENT KABILA AND HIS GUERRILLA ARMY CLOSE IN ON ZAIRE'S CAPITAL AND VICTORY, THE OUTSIDE WORLD HAS AN IMPORTANT ROLE TO PLAY. ..... AFRICAN AND WORLD LEADERS MUST PRESS HIM TO GOVERN DEMOCRATICALLY. MR. KABILA HAS NO GOVERNING EXPERIENCE OR RECORD, HAVING SPENT THE LAST FEW DECADES AS A SMALL-TOWN WARLORD, GOLD SMUGGLER AND GUERRILLA FIGHTER. ..... [HE] WILL NEED WESTERN FINANCIAL SUPPORT TO STABILIZE ZAIRE. ....... AFTER ITS LONG SUPPORT FOR MR. MOBUTU AND HIS DESPOTIC WAYS, THAT IS THE LEAST WASHINGTON CAN DO FOR ZAIRE."

    TEXT: IN TEXAS, THE DALLAS MORNING NEWS BELIEVES SOUTH AFRICA'S PRESIDENT NELSON MANDELA DESERVES CREDIT FOR HIS ROLE IN AVERTING BLOODSHED.

    VOICE: "AS THE CONTINENT'S STRONGEST MORAL VOICE, MR. MANDELA SUPPLIED THE STATURE TO SPEAK ABOUT PEACEFUL CHANGE AND RECONCILIATION...HIS MORAL SUASION MIGHT EVENTUALLY IMPRESS UPON MR. KABILA THAT ONLY BY MOVING IN THE DIRECTION OF SOUTH AFRICA'S EXAMPLE WILL ZAIRE, AND OTHER AFRICAN NATIONS, END AGE-OLD HOSTILITIES AND CATCH THE INTERNATIONAL WAVE OF PLITICAL AND ECONOMIC PLURALISM."

    TEXT: DOMESTICALLY, LAST WEEK'S BUDGET AGREEMENT BETWEEN PRESIDENT CLINTON AND THE REPUBLICAN CONGRESSIONAL LEADERSHIP, WHICH BOTH SIDES SAY WILL BALANCE THE BUDGET EARLY IN THE NEXT CENTURY, IS GENERATING PLENTY OF ATTENTION. THE CHRISTIAN SCIENCE MONITOR SAYS THE DEAL DESERVES CHEERS.

    VOICE: "THREE CHEERS, THAT IS, FOR THE U-S ECONOMY, WHICH .... MADE THIS ACHIEVEMENT POSSIBLE. AND TWO CHEERS EACH FOR PRESIDENT CLINTON, HIS UNFLAPPABLE [NOT EASILY DISTRACTED] BUDGET DIRECTOR, FRANKLIN RAINES, AND GOP CONGRESSIONAL LEADERS .....THE COMPROMISE THEY WROUGHT WAS HARD FOUGHT ..... MANY DEMOCRATS AND SOME REPUBLICANS FELT THEY GOT ONLY HALF A LOAF. THAT'S COMPROMISE. WE URGE THEM TO ACCEPT THE GENERAL OUTLINES OF BUDGET DEAL ONE ....."

    TEXT: IN THE OPPOSITE CAMP IS USA TODAY, WHICH DISPARAGES THE ARRANGEMENT.

    VOICE: "OK. THE STOCK MARKET IS AT RECORD LEVELS. UNEMPLOYMENT IS AT A 23-YEAR-LOW OF FOUR-POINT-NINE-PERCENT. SO WHERE'S THE EVIDENCE THAT THE ECONOMY NEEDS, AND INVESTORS DESERVE, A CAPITAL GAINS TAX CUT? NOWHERE. YET THANKS TO SOME BACKSCRATCHING [COMPLEMENTARY AGREEMENTS BETWEEN OPPONENTS] IN THE BUDGET DEAL BETWEEN PRESIDENT CLINTON AND GOP LEADERS LAST WEEK, INVESTORS ARE LIKELY TO GET A HEFTY [LARGE] ONE. THE WHITE HOUSE SIGNALED CAPITULATION .... SAYING IT COULD LIVE WITH A CUT IN THE TOP RATE .... TO 20 PERCENT. ... BY ANY ACCOUNTING, SUCH PROPOSALS WOULD BLOW A HOLE THROUGH THE BUDGET AGREEMENT AND HAND WINDFALLS TO THE RICHEST ONE PERCENT OF TAXPAYERS ..... THAT'S TOO MUCH. ... IT'S TIME TO SPREAD THE WEALTH TO THOSE LOWER DOWN THE INCOME LADDER."

    TEXT: OVERSEAS, IN THIS HEMISPHERE, TODAY'S ATLANTA CONSTITUTION IS UPSET AT THE PROSPECT OF SELLING SOPHISTICATED WEAPONS, INCLUDING THE LATEST JET FIGHTERS, TO CHILE. THE PAPER CALLS IT A "BAD IDEA" WHICH WILL ONLY CAUSE ARGENTINA, AND THEN, PROBABLY, BRAZIL, TO WANT SIMILAR DEALS.

    VOICE: "..... SOUTH AMERICA IS JUST BEGINNING TO SHOW REAL ECONOMIC STRENGTH AND VIGOR AND IS EMERGING AS AN IMPORTANT TRADING PARTNER FOR THE UNITED STATES. IF THAT GROWTH IS TO CONTINUE, THOSE COUNTRIES NEED TO INVEST EVERY CHILEAN PESO AND BRAZILIAN CENTAVO IN SCHOOLS, MEDICAL CLINICS, HIGHWAYS AND FACTORIES. SIPHONING OFF BILLIONS .... INTO A HIGH-TECH ARMS RACE WILL SLOW THAT NECESSARY TRANSITION FROM THIRD WORLD TO FIRST WORLD. .... DANGLING HIGH-TECH WEAPONS UNDER THE NOSES OF SOUTH AMERICAN GENERALS IS LIKELY TO ENDANGER THAT PROGRESS."

    [OPT]

    TEXT: THE CONTROVERSY SURROUNDING LONG TIME CLINTON FAMILY FRIEND, AND FORMER ASSOCIATE ATTORNEY GENERAL WEBSTER HUBBELL CONTINUES TO GENERATE EDITORIALS. NEW EVIDENCE THAT CLOSE CLINTON ADVISERS KNEW MR. HUBBELL WAS A TARGET OF A GRAND JURY INVESTING THE WHITEWATER AFFAIR. AT THE SME TIME, THEY WERE HELPING HIM FIND TEMPORARY LEGAL WORK WORTH AT LEAST HALF-A-MILLION DOLLARS, SAYS THE WASHINGTON TIMES. THIS, SAYS THE PAPER, HEIGHTENS THE BELIEF THAT HE WAS BEING AIDED IN RETURN FOR HIS SILENCE.

    VOICE: "IT'S CLEAR THAT AT LEAST TWO PEOPLE VERY CLOSE TO THE CLINTONS KNEW VERY WELL THAT [MR.] HUBBELL HAD A LOT TO FEAR FROM [WHITEWATER INDEPENDENT COUNSEL KENNETH] STARR. AND IT IS WELL KNOWN BY NOW THAT AFTER PROMISING COOPERATION (AND AFTER RECEIVING HIS VERY GENEROUS STIPEND FROM CLINTON SUPPORTERS) [MR.] HUBBELL WAS MUCH LESS THAN FORTHCOMING WITH THE INDEPENDENT COUNSEL. WHY? THAT IS A QUESTION PERHAPS BEST LEFT TO MR. STARR AND HIS GRAND JURIES TO ANSWER."

    TEXT: IN A RELATED EDITORIAL, THE NEW YORK TIMES SAYS THE WHITE HOUSE IS USING WHAT THE PAPER CALLS "AN UNJUSTIFIED CLAIM OF [LAWYER-CLIENT] PRIVILEGE IN TRYING TO KEEP NOTES OF CONVERSATIONS WITH HILLARY CLINTON AWAY FROM THE STARR INVESTIGATION.

    [END OPT]

    TURNING TO ASIA, THE ORLANDO SENTINEL SAYS TRYING TO FIGURE OUT WHAT IS HAPPENING IN NORTH KOREA WOULD TAX THE BEST INTELLIGENCE EXPERTS, BUT SO FAR, U-S POLICY SEEMS TO BE ON TRACK...FOR NOW.

    VOICE: "AMERICANS HAVE SEEN TWO SHARPLY CONTRASTING IMAGES OF NORTH KOREA DURING RECENT MONTHS. IMAGE ONE: A STARVING COUNTRY REACHING OUT TO THE REST OF THE WORLD, WILLING TO REFORM AND .... TALK PEACE. IMAGE TWO: A PARANOID NATION THAT APPEARS TO BE A HEARTBEAT AWAY FROM TURNING LOOSE IT MASSIVE MILITARY MACHINE ON SOUTH KOREA AND JAPAN. WHAT'S THE REALITY? ACTUALLY, A FAIR AMOUNT OF BOTH. .... THE CLINTON ADMINISTRATION HAS ADOPTED AN APPROPRIATE POLICY OF OFFERING CARROTS TO WIN CRITICAL CONCESSIONS FROM NORTH KOREA. .... THE UNITED STATES ALSO HAS BEEN ATTENTIVE TO NORTH KOREA'S ECONOMIC WOES, PROVIDING EMERGENCY HEALTH AND FOOD AID. BUT THERE IS A LIMIT TO HOW FAR THIS COUNTRY SHOULD BEND TO NORTH KOREA'S DEMANDS. ...."

    TEXT: AND LASTLY, THIS NOTE FROM THE LOS ANGELES TIMES ON THE RECENT BRITISH ELECTIONS AND ITS EFFECT ON RE-STARTING THE PEACE EFFORT IN NORTHERN IRELAND.

    VOICE: "BRITAIN'S NEWLY ELECTED LABOR GOVERNMENT HAS MOVED QUICKLY ON THE NORTHERN IRELAND QUESTION, RAISING CAUTIOUS HOPES THAT THE STALLED PEACE PROCESS WILL BE RESUMED. THE NEW NORTHERN IRELAND SECRETARY, MO MOWLAM, HAS ALREADY ORDERED A SERIES OF MEASURES INTENDED TO RESTORE CONFIDENCE IN THE PROCESS, WOUNDED BY HARDBALL POLITICS AND THE VIOLENT OPPOSITION OF THE IRISH REPUBLICAN ARMY. .... [MS] MOWLAM SAYS, 'THE BALL IS IN THE IRA'S COURT,' INVITING THE UNDERGROUND ARMY TO DELIVER A CREDIBLE CEASE-FIRE AS AN OPENING TO NEW TALKS AIMED AT A POLITICAL SOLUTION."

    TEXT: ON THAT NOTE, WE CONCLUDE THIS BRIEF LOOK AT SOME OF TODAY'S EDITORIALS IN THE U-S PRESS.
    NEB/ANG/NL
    07-May-97 10:52 AM EDT (1452 UTC)
    NNNN
    Source: Voice of America


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