Voice of America, 98-09-18

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

CONTENTS

[01] ALBANIA CRISIS BY DOUGLAS ROBERTS (TIRANA)

[02] ALBANIA SITREP (L UPDATE) BY DOUGLAS ROBERTS (TIRANA)

[03] KOSOVO FIGHTING (L ONLY) BY PHILIP SMUCKER (SMREKOVNICA)

[04] U-N-H-C-R / KOSOVO (L ONLY) BY LISA SCHLEIN (GENEVA)

[05] ESTONIA / NATO / E-U (L ONLY) BY KEN SCHWARTZ (WASHINGTON)

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

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

[08] FRIDAY'S EDITORIALS BY NICK SIMEONE (WASHINGTON)

[01] ALBANIA CRISIS BY DOUGLAS ROBERTS (TIRANA)

INTRO: THE ALBANIAN CAPITAL, TIRANA, REMAINS IN THE GRIP OF A TENSE POLITICAL CONFRONTATION BETWEEN THE SOCIALIST-LED GOVERNMENT OF PRIME MINISTER FATOS NANO AND THE OPPOSITION DEMOCRATIC PARTY HEADED BY FORMER PRESIDENT SALI BERISHA. WHILE THE SITUATION HAS CALMED SOMEWHAT SINCE VIOLENCE ON MONDAY, THERE IS NO SIGN OF A SOLUTION TO THE CRISIS -- AMID FEARS OF A NEW OUTBREAK OF VIOLENCE AND PERHAPS A REPEAT OF LAST YEAR'S WIDESPREAD CHAOS. V-O-A CORRESPONDENT DOUGLAS ROBERTS IN TIRANA REPORTS MANY ORDINARY ALBANIANS HAVE GROWN WEARY OF THE COUNTRY'S CHRONIC POLITICAL INSTABILITY.

TEXT:

A FEW THOUSAND HARDLINE OPPOSITION SUPPORTERS STAGE A PROTEST MARCH THROUGH THE HEART OF TIRANA IN WHAT HAS BECOME A DAILY EVENT HERE.

THE DEMONSTRATION ELICIT SOME PASSING INTEREST AMONG ONLOOKERS. BUT ONCE THE MARCHERS BEGIN MOVING AWAY, LIFE RETURNS TO NORMAL IN SKANDERBEG SQUARE -- THE VAST OPEN SPACE DOMINATED BY THE NATIONAL OPERA AND MUSEUM AND THE EQUESTRIAN STATUE OF ALBANIA'S 14TH CENTURY NATIONAL HERO.

CHILDREN STAND IN LINE FOR THE FERRIS WHEEL AND MERRY-GO-ROUND ON ONE SIDE OF THE HUGE SQUARE, WHILE ON THE OTHER, THE MUSLIM CALL TO PRAYER ECHOES FROM THE CITY'S MAIN MOSQUE. ARBAN, A SHORT STOCKY MAN SELLING CIGARETTES FROM A SMALL STAND ON THE PAVEMENT BENEATH THE STATUE, MERELY SHRUGS HIS SHOULDERS AS THE PROTESTERS MARCH BY. HE SEEMS INDIFFERENT TO THEIR APPEALS FOR ORDINARY ALBANIANS TO JOIN THE MARCH.

FOR TWO YEARS NOW, I HAVEN'T BEEN READING ANY NEWSPAPERS. I DO NOT WANT TO KNOW ANYTHING MORE ABOUT THE NEWS.

ARBAN SAYS HE SEE LITTLE DIFFERENCE BETWEEN THE TWO PARTIES -- THE DEMOCRATS AND THE SOCIALISTS -- THAT HAVE DOMINATED ALBANIAN POLITICS FOR MOST OF THIS DECADE. THERE IS NO REAL DISTINCTION BETWEEN THEM, HE SAYS, AND THEY EMPLOY THE SAME TACTICS JUST FOR THE SAKE OF STAYING IN POWER.

THAT SENTIMENT IS WIDELY EXPRESSED HERE. MONDA, AN ATTRACTIVE YOUNG WOMAN IN BLUE JEANS AND A CHECKERED BLOUSE, SELLS SOUVENIRS AND TOYS AT A SMALL KIOSK A FEW METERS FROM THE SQUARE. SHE SAYS SHE IS GLAD THE ALBANIAN POLICE HAVE RESTORED AT LEAST SOME SEMBLANCE OF ORDER AFTER THE VIOLENCE AND LOOTING THAT ROCKED THIS CITY AT THE BEGINNING OF THE WEEK.

BUT MONDA SAYS SHE REMAINS UNCERTAIN AND FEARFUL ABOUT THE FUTURE, ADDING THAT SHE SEES NO SIGN THAT ALBANIA'S POLITICIANS ARE REALLY INTENT ON RESOLVING THE CRISIS.

BECAUSE THE ONLY THING HAPPENING HERE IS THE FIGHT BETWEEN PARTIES TO TAKE THE POWER, AND NO ONE REALLY CARES FOR THE PEOPLE, FOR THEIR WELFARE.

MANY ALBANIANS BLAME THE CRISIS IN LARGE PART ON THE DEEP PERSONAL ANIMOSITY BETWEEN PRIME MINISTER NANO AND OPPOSITION LEADER BERISHA. BOTH MEN ARE HIGHLY EDUCATED. THE PRIME MINISTER IS AN ECONOMIST, AND MR. BERISHA A HEART SURGEON.

BUT ONE OF ALBANIA'S LEADING ACADEMICS, AUREL PLASARI, SAYS THAT IN POLITICS, THE TWO MAIN PROTAGONISTS HERE ARE AMATEURS.

IT WOULD BE BETTER FOR ALBANIA, HE SAYS, IF THESE TWO MEDIEVAL MONSTERS SIMPLY FOUGHT IT OUT WITH SWORDS, WITHOUT INVOLVING OTHERS IN THEIR CONFLICT.

MR. PLASARI -- THE DIRECTOR OF ALBANIA'S NATIONAL LIBRARY -- SAYS NEITHER OF THE TWO PARTIES IS TRULY REPRESENTATIVE. AND THE ALBANIAN PEOPLE ARE INDIFFERENT TO THE CRISIS, HE ADDS, BECAUSE IT SIMPLY DOES NOT REFLECT THEIR CONCERNS.

THE CONSEQUENCES OF THE LATEST POLITICAL IMPASSE ARE READILY APPARENT HERE. MANY LOCAL BUSINESSES ARE STAYING OPEN FOR ONLY A FEW HOURS A DAY, FOR FEAR OF A NEW WAVE OF VIOLENCE. THE START OF THE NEW SCHOOL YEAR HAS BEEN DELAYED. A DONOR'S CONFERENCE ON ECONOMIC AID FOR THE COUNTRY HAS BEEN POSTPONED. AND MANY FOREIGN BUSINESSES HAVE ORDERED STAFF TO LEAVE TIRANA UNTIL THE SITUATION STABILIZES.

A EUROPEAN DIPLOMAT HERE SAYS THERE CAN BE NO REAL PROGRESS OR DEVELOPMENT IN ALBANIA AS LONG AS ITS CHRONIC INSTABILITY PERSISTS. AND UNLESS THE CURRENT CRISIS IS RESOLVED SOON, SHE ADDS, THE SITUATION WILL INEVITABLY EXPLODE AGAIN.

LIKE MANY ALBANIANS, THE DIPLOMAT BLAMES THE POLITICIANS. THESE MEN SIMPLY ARE NOT REASONABLE, SHE SAYS. THEY WOULD RATHER DIE THAN COMPROMISE. (SIGNED)
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18-Sep-98 1:32 PM EDT (1732 UTC)
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Source: Voice of America

[02] ALBANIA SITREP (L UPDATE) BY DOUGLAS ROBERTS (TIRANA)

INTRO: ALBANIAN LAWMAKERS HAVE VOTED TO STRIP OPPOSITION LEADER SALI BARISHA OF HIS PARLIAMENTARY IMMUNITY. THE VOTE COULD PAVE THE WAY FOR MR. BARISHA'S ARREST ON CHARGES OF INCITING VIOLENT UNREST THIS WEEK IN TIRANA. BUT DOUGLAS ROBERTS IN THE ALBANIAN CAPITAL REPORTS THE OPPOSITION LEADER REMAINS DEFIANT.

TEXT: THE PARLIAMENT IS DOMINATED BY THE RULING SOCIALIST PARTY. AND THE DEPUTIES VOTED OVERWHELMINGLY IN FAVOR OF THE MOVE AGAINST MR. BARISHA, OVERRIDING THE OBJECTIONS OF SOCIALIST LEADER AND PRIME MINISTER FATOS NANO. MR. NANO HAS BEEN UNDER INTENSE INTERNATIONAL PRESSURE TO DEFUSE THE WEEK-OLD CRISIS HERE.

ALBANIA'S PROSECUTOR-GENERAL HAS BEEN COMPILING EVIDENCE AGAINST THE OPPOSITION LEADER WHO THE GOVERNMENT BLAMES FOR VIOLENT UNREST ON MONDAY. BUT IT REMAINS UNCLEAR WHETHER THE AUTHORITIES HERE WILL SEEK MR. BARISHA'S ARREST -- A MOVE THAT COULD TOUCH OFF FURTHER VIOLENCE.

WESTERN ENVOYS CLEARLY ARE HOPING THE GOVERNMENT WILL DELAY ANY FURTHER MOVE AGAINST MR. BARISHA TO GIVE THEM MORE TIME TO MEDIATE IN THE CRISIS. IN ADDITION TO THEIR APPEALS TO THE GOVERNMENT, FOREIGN AMBASSADORS ALSO HAVE BEEN URGING MR. BARISHA TO HELP CALM THE SITUATION BY CALLING OFF THE DAILY OPPOSITION PROTESTS.

BUT AT HIS HEADQUARTERS FRIDAY, JUST HOURS BEFORE THE PARLIAMENTARY VOTE, THE OPPOSITION LEADER LEFT NO DOUBT THAT THE DEMONSTRATIONS WILL CONTINUE.

URGED ON BY SEVERAL THOUSAND HARDLINE SUPPORTERS, THE OPPOSITION LEADER VOWED TO PUSH AHEAD WITH THE CAMPAIGN, PORTRAYING IT AS A NON-VIOLENT, POPULAR REVOLT AIMED AT BRINGING DOWN WHAT HE CALLS A NEW COMMUNIST DICTATORSHIP.

THE PROTESTORS STAGED ANOTHER MARCH THROUGH TIRANA'S CENTRAL SQUARE.

ALBANIAN POLICE MADE NO ATTEMPT TO BREAK UP THE RALLY, DESPITE AN OFFICIAL BAN ON DEMONSTRATIONS ANNOUNCED EARLIER THIS WEEK.

BUT THE POLICE PRESENCE IN TIRANA APPEARS TO HAVE BEEN REINFORCED OVER THE PAST 24 HOURS. THE ROAD FROM THE INTERIOR MINISTRY TO OPPOSITION HEADQUARTERS HAS BEEN SEALED OFF. POLICE IN VANS AND ARMORED PERSONNEL CARRIERS ARE CONDUCTING PERIODIC PATROLS THROUGH THE CENTER OF THE CAPITAL. AND TROOPS OF THE ALBANIAN ARMY IN FULL COMBAT GEAR NOW STAND GUARD OUTSIDE THE PRIME MINISTER'S OFFICE AND OTHER KEY INSTALLATIONS.

ALBANIAN AND FOREIGN ANALYSTS HERE SAY THAT UNLESS A POLITICAL SOLUTION TO THE CRISIS IS FOUND SOON, IT IS ONLY A MATTER OF TIME BEFORE A NEW WAVE OF VIOLENCE ROCKS THE CAPITAL. (SIGNED)
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18-Sep-98 10:28 AM EDT (1428 UTC)
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Source: Voice of America

[03] KOSOVO FIGHTING (L ONLY) BY PHILIP SMUCKER (SMREKOVNICA)

INTRO: IN KOSOVO, ETHNIC-ALBANIAN VILLAGERS NEAR THE TOWN OF MITROVICA SAY DOZENS OF YUGOSLAV TANKS HAVE ROLLED THROUGH THEIR VILLAGES, DESTROYING EVERYTHING IN THEIR PATH. PHILIP SMUCKER REPORTS FROM THE AREA IN NORTHEASTERN KOSOVO.

TEXT: VILLAGERS SAY YUGOSLAV ARMY TANKS RAMPAGED THROUGH THEIR VILLAGES NEAR THE TOWN OF MITROVICA.

DOZENS OF TANKS WERE SEEN LEAVING THE AREA FRIDAY. AND EVIDENCE OF THEIR DESTRUCTION -- INCLUDING TANK TRACKS, DEAD BODIES, AND SMOLDERING HOMES -- WAS APPARENT ACROSS A WIDE AREA.

ONE YOUNG MAN -- SPEAKING IN GERMAN -- DESCRIBED WHAT HAPPENED.

HE SAID SCORES OF TANKS SWEPT THROUGH VILLAGES, DESTROYING EVERYTHING IN THEIR PATH.

IN THE VILLAGE OF VELIKI KICIC, FAMILY MEMBERS STOOD AT THE BASE OF A HILL AFRAID TO RETRIEVE THE BODY OF A RETIRED MINER.

AFTER THE SERB FORCES WITHDREW, THEY SAID, THEY FOUND THE OLD MAN'S BODY RIDDLED WITH BULLETS. HIS BLACK MUSLIM BERET (SKULLCAP) WAS STILL ON HIS HEAD AND A WALKING STICK WAS AT HIS SIDE. A VILLAGE DOG SAT GUARDING THE BODY.

GUERRILLA FIGHTERS APPEARED TO HAVE SLIPPED OUT OF THEIR TRENCHES AND INTO THE HILLS ABOVE THE VILLAGE BEFORE THE SERBIAN TANKS ROLLED THROUGH.

THE VILLAGERS SAID YUGOSLAV PRESIDENT SLOBODAN MILOSEVIC IS DESTROYING VILLAGE AFTER VILLAGE IN HIS ATTEMPT TO CRUSH THE ETHNIC ALBANIAN UPRISING. ETHNIC ALBANIANS -- KNOWN AS KOSOVARS MAKE UP ABOUT 85 PERCENT OF KOSOVO'S POPULATION

THE KOSOVAR VILLAGERS BLAME EUROPEAN INACTION FOR THE DEATH OF THE MINER AS WELL AS DOZENS OF OTHER CIVILIANS KILLED IN THE RECENT SERB OFFENSIVE.

WESTERN GOVERNMENTS HAVE MADE REPEATED THREATS OF POSSIBLE NATO INTERVENTION AND HAVE ACCUSED THE SERB FORCES OF USING DISPROPORTIONATE FORCE TO SMASH THROUGH VILLAGES.

DIPLOMATS SAY THEY FEAR THE HEAVY FIGHTING IN NORTHEASTERN KOSOVO POINTS TO A WIDENING OF THE FIGHTING TO NEW AREAS IN KOSOVO WHERE 300-THOUSAND CIVILIANS HAVE ALREADY BEEN DISPLACED. (SIGNED)
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18-Sep-98 1:37 PM EDT (1737 UTC)
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Source: Voice of America

[04] U-N-H-C-R / KOSOVO (L ONLY) BY LISA SCHLEIN (GENEVA)

INTRO: THE U-N REFUGEE AGENCY, U-N-H-C-R, SAYS THE CRISIS IN SERBIA'S KOSOVO PROVINCE IS GETTING WORSE. LISA SCHLEIN IN GENEVA REPORTS THE REFUGEE AGENCY IS ACCUSING SERBIAN SECURITY FORCES OF BLOCKING HUMANITARIAN ACCESS TO THE CONFLICT-STRICKEN AREAS.

TEXT: THE U-N REFUGEE AGENCY SAYS A SERBIAN GOVERNMENT OFFENSIVE WHICH BEGAN THREE DAYS AGO HAS FORCED AN ESTIMATED 10-THOUSAND PEOPLE TO FLEE AT LEAST 13 VILLAGES IN KOSOVO. U-N-H-C-R SPOKESMAN, KRIS JANOWSKI SAYS THE SERB ARMY AND POLICE HAVE BEEN PREVENTING AID WORKERS FROM ENTERING THE VILLAGES.

OUR STAFF COULD SEE SMOKE RISING FROM THE VILLAGES IN THE AREA. WE SPOKE TO SOME OF THE PEOPLE WHO FLED WHO SAID MOST OF THE VILLAGES WERE NOW EMPTY. WITH ONE PARTICULAR VILLAGE, THEY SAID THAT 80 PERCENT OF THE POPULATION FLED.

MR. JANOWSKI SAYS A TEAM OF INTERNATIONAL OBSERVERS HAS LOCATED ABOUT 25-THOUSAND ETHNIC ALBANIANS WHO FLED THEIR HOMES IN THE DRENICA REGION. HE SAYS THE REFUGEES ARE CAMPED OUT IN THE CENTRAL PART OF THE RUGOVA CANYON ALONG THE BORDER WITH MONTENEGRO.

MR. JANOWSKI SAYS THE PEOPLE ARE REPORTEDLY IN VERY BAD CONDITION. MANY ARE SICK AND WOUNDED. HE SAYS THEY ARE LIVING IN THE OPEN WITHOUT FOOD OR MEDICINE. AND HE SAYS THE UNITED NATIONS WILL TRY TO DELIVER BASIC RELIEF SUPPLIES TO THEM AS SOON AS POSSIBLE.

THE UNITED NATIONS ESTIMATES NEARLY 300-THOUSAND PEOPLE HAVE BEEN DISPLACED BY THE KOSOVO WAR. SERBIAN SECURITY FORCES ARE PREVENTING PEOPLE FROM CROSSING INTO NORTHERN ALBANIA. AND, RECENTLY, THE YUGOSLAV REPUBLIC OF MONTENEGRO SHUT ITS BORDERS TO REFUGEES FROM KOSOVO.

THE U-N REFUGEE AGENCY REPORTS MORE AND MORE KOSOVO REFUGEES NOW ARE GOING TO BOSNIA-HERZEGOVINA. AND MR. JANOWSKI SAYS THIS IS PUTTING A BIG STRAIN ON THE AGENCY AND LOCAL AUTHORITIES IN BOSNIA.

YESTERDAY, WE HAD ABOUT 500 PEOPLE MASSED OUTSIDE THE U-N-H-C-R OFFICE IN SARAJEVO ASKING FOR HELP. SO FAR, WE'VE BEEN APPROACHED DIRECTLY BY ABOUT THREE-THOUSAND PEOPLE FROM KOSOVO. ACCORDING TO THE BOSNIAN GOVERNMENT, THERE ARE AS MANY AS NINE-THOUSAND KOSOVO REFUGEES IN BOSNIA SINCE THE FIGHTING STARTED IN KOSOVO IN EARLY MARCH.

MR. JANOWSKI SAYS BETWEEN 150 AND 175 NEW REFUGEES ARE ARRIVING IN THE BOSNIAN CAPITAL, SARAJEVO EVERY DAY. (SIGNED)
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18-Sep-98 8:27 AM EDT (1227 UTC)
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Source: Voice of America

[05] ESTONIA / NATO / E-U (L ONLY) BY KEN SCHWARTZ (WASHINGTON)

INTRO: ESTONIA'S FOREIGN MINISTER SAYS HIS COUNTRY IS ON TRACK FOR MEMBERSHIP IN THE EUROPEAN UNION AND NOW HAS ITS SITES ON JOINING NATO. V-O-A'S KEN SCHWARTZ REPORTS.

TEXT: AT A WASHINGTON NEWS CONFERENCE, ESTONIAN FOREIGN MINISTER TOOMAS HENDRICK ILVES (PRON: ' EEL-VIS) SAID ONE OF ESTONIA'S FOREIGN POLICY OBJECTIVES HAS BEEN MET -- GETTING AN INVITATION TO JOIN THE EUROPEAN UNION.

MR. ILVES SAYS THE UNION LOOKED AT ESTONIA'S SUCCESSFUL ECONOMIC REFORMS THAT RESULTED IN AN 11 POINT FOUR PERCENT GROWTH RATE LAST YEAR, AND HAS BEGUN THE FIRST PHASE OF NEGOTIATIONS WITH THE BALTIC STATE.

BEING INVITED TO BEGIN NEGOTIATIONS ALONG WITH POLAND, HUNGARY, THE CZECH REPUBLIC, AND SLOVENIA HAS HAD A GENERALLY POSITIVE EFFECT. THE ECONOMY HAS ALREADY BENEFITED FROM THIS INVITATION BECAUSE IT HAS PUT ESTONIA ON THE MAP. I THINK THAT THERE IS A FAIRLY DECENT AWARENESS WHERE ESTONIA IS IN EUROPE AND EVEN HERE BECAUSE I THINK IT IS QUITE CLEAR THAT FOR EVEN U-S INVESTORS, THOSE COUNTRIES THAT HAVE BEEN INVITED TO BEGIN NEGOTIATIONS WITH THE E-U ARE INTERESTING AS PLACES TO INVEST.

FOREIGN MINISTER ILVES SAID HE IS LOOKING FORWARD TO NEXT APRIL'S NATO SUMMIT IN WASHINGTON.

WITH POLAND, HUNGARY AND THE CZECH REPUBLIC APPROVED FOR MEMBERSHIP, HE SAID SOME NATO MEMBERS ARE SUFFERING FROM WHAT HE CALLS ENLARGEMENT FATIGUE. HE SAYS ESTONIA WILL TAKE WHAT HE SAYS IS A RATIONAL APPROACH TO THE ISSUE.

BUT HE SAYS ESTONIA WILL MAKE IT CLEAR TO CURRENT MEMBERS THAT AT LEAST ONE BALTIC STATE SHOULD BE ALLOWED TO JOIN THE MILITARY ALLIANCE.

OBVIOUSLY, IF WE WERE TAKEN (I.E. ACCEPTED FOR MEMBERSHIP) WE'D BE HAPPIER, BUT THE KEY ISSUE HERE IS THAT ONE BALTIC COUNTRY BE TAKEN IN, BE IT ESTONIA, LATVIA, OR LITHUANIA, BECAUSE THAT WOULD SEND THE SAME SIGNAL THAT THE EUROPEAN UNION ENLARGEMENT SENDS. BY TAKING IN ONE BALTIC COUNTRY, IT MEANT THAT ALL THREE BALTIC STATES ARE ELIGIBLE AND ARE NOT RELEGATED TO SOME KIND OF SPHERE OF RUSSIAN INFLUENCE.

DISCARDING ITS IMAGE AS JUST ANOTHER FORMER SOVIET STATE STRUGGLING WITH MARKET REFORM AND DEMOCRACY AND NOT ELIGIBLE FOR NATO MEMBERSHIP IS, ACCORDING TO MR. ILVES, ONE OF ESTONIA'S TOUGHEST CHALLENGES.

I SAY THE SOVIET UNION IS ONE OF THE MOST DISGUSTING AND AWFUL THINGS THAT WAS CREATED, CERTAINLY IN THIS CENTURY, AND ITS DEATH IS ONE OF THE MOST WONDERFUL THINGS THAT HAS HAPPENED. AND TO HAVE IT LIVE ON IN THE SENSE OF THE TERRITORY OF THE FORMER SOVIET UNION I THINK IS FAIRLY OBNOXIOUS.

DESPITE HIS CONTEMPT FOR THE SOVIET UNION AND ITS OCCUPATION AND ANNEXATION OF ESTONIA, MR. ILVES SAYS HE WISHES RUSSIA WELL IN OVERCOMING ITS ECONOMIC CRISIS.

BESIDES HIS UNWILLINGNESS TO SEE A NEIGHBOR DISINTEGRATE INTO CHAOS, ESTONIA AND RUSSIA ARE TRADING PARTNERS AND DO NOT WANT TO SEE THAT MARKET DISAPPEAR. (SIGNED)
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18-Sep-98 12:58 PM EDT (1658 UTC)
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Source: Voice of America

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

INTRO: STOCK PRICES WERE DOWN IN TRADING FRIDAY IN EUROPE. V-O-A'S JACK HUIZENGA HAS THE CLOSING MARKET REPORT FROM LONDON.

TEXT: THE DROP IN STOCK PRICES IN EUROPE FOLLOWED THE WORLD-WIDE PATTERN. ANALYSTS SAY INVESTORS ARE CONCERNED THAT CORPORATE EARNINGS WILL FALL AS THE GLOBAL ECONOMY SLOWS.

ALL OF THE MAJOR EUROPEAN MARKETS WERE DOWN. AND THE OPENING ON WALL STREET -- WHERE THERE WAS LITTLE CHANGE -- DID NOTHING TO HELP.

THE BIGGEST DROP FOR THE DAY WAS IN PARIS. THE CAC-40 INDEX CLOSED DOWN 60 POINTS, ONE-AND-SEVEN-TENTHS PERCENT.

LONDON ALSO SUFFERED A BIG DECLINE. THE FOOTSIE-100 INDEX WAS OFF 77 POINTS, ONE-AND-ONE-HALF PERCENT.

AND IN FRANKFURT, THE DAX INDEX DIPPED SIX POINTS, ABOUT ONE-TENTH PERCENT.

ON THE LONDON CURRENCY EXCHANGE, THE VALUE OF THE U-S DOLLAR WAS UP A LITTLE AGAINST THE GERMAN MARK AND THE JAPANESE YEN, BUT DOWN AGAINST THE BRITISH POUND. (SIGNED)
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18-Sep-98 1:36 PM EDT (1736 UTC)
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Source: Voice of America

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

INTRO: STOCK PRICES IN THE UNITED STATES WERE UP TODAY (FRIDAY) IN SOMEWHAT CAUTIOUS TRADING. V-O-A CORRESPONDENT BRECK ARDERY REPORTS FROM NEW YORK.

TEXT: THE DOW JONES INDUSTRIAL AVERAGE CLOSED AT 78 HUNDRED 95, UP 21 POINTS. FOR THE WEEK, THE INDUSTRIAL AVERAGE GAINED 100 POINTS, MORE THAN ONE PERCENT. THE STANDARD AND POOR'S 500 INDEX CLOSED FRIDAY AT ONE THOUSAND 20 UP ONE, POINT.

STOCKS TRADED IN A RELATIVELY NARROW RANGE ALL DAY. WORRIES ABOUT THE INTERNATIONAL SITUATION AND THE FUTURE OF PRESIDENT CLINTON CONTINUED. HOWEVER, THE DECISION TO RELEASE THE VIDEOTAPE OF THE PRESIDENT'S GRAND JURY TESTIMONY WAS EXPECTED AND HAD NO IMPACT ON STOCK PRICES.

THERE IS STILL HOPE AMONG MANY TRADERS THAT THE FEDERAL RESERVE BOARD, THE U-S CENTRAL BANK, WILL LOWER SHORT-TERM INTEREST RATES AT ITS NEXT MEETING ON SEPTEMBER 29TH.

FINANCIAL ADVISOR STEVEN LEIB SAYS LOWER INTEREST RATES COULD HELP BOOST THE STOCK MARKET.

IF THE FED LOWERS INTEREST RATES THE MARKET COULD REALLY PICK ITSELF UP. BUT IF THE FED DISAPPOINTS, THERE COULD BE MORE DOWNSIDE ACTION.

THE GOVERNMENT REPORTS THE PACE OF HOME BUILDING IN THE UNITED STATES SLOWED IN AUGUST BUT WAS STILL WELL AHEAD OF LAST YEAR.

CHRYSLER CORPORATION CHAIRMAN ROBERT EATON SAYS THE COMPANY'S MERGER WITH DAIMLER BENZ OF GERMANY IS UNUSUAL BECAUSE IT IS NOT MEANT TO REDUCE COSTS BUT TO PRODUCE GROWTH. MR. EATON SPOKE AS CHRYSLER SHAREHOLDERS GAVE THEIR FORMAL APPROVAL TO THE MERGER.

U-S DRUG REGULATORS HAVE GIVEN APPROVAL TO THE DUPONT PHARMACEUTICAL COMPANY FOR A NEW SINGLE-PILL-A-DAY TREATMENT FOR THE VIRUS WHICH CAUSES AIDS. MANY CURRENT TREATMENTS REQUIRE PATIENTS TO TAKE NUMEROUS PILLS AT VARIOUS TIMES OF THE DAY.

UNION CARBIDE IS THE LATEST U-S CORPORATION TO WARN THAT THE ASIAN FINANCIAL CRISIS WILL HURT EARNINGS. UNION CARBIDE SAYS ITS QUARTERLY PROFIT COULD BE DOWN BY AS MUCH AS 35 PERCENT.

THE STOCK OF NIKE, THE ATHLETIC FOOTWEAR AND APPAREL MAKER, ROSE BY MORE THAN 10 PERCENT AFTER THE COMPANY REPORTED BETTER-THAN-EXPECTED EARNINGS. HOWEVER, NIKE SAYS ITS GROWTH PROSPECTS REMAIN VERY LIMITED IN THE NEAR TERM.

TWO U-S OIL COMPANIES -- TEXACO AND ATLANTIC RICHFIELD -- WILL JOIN WITH THE CHINESE NATIONAL OIL COMPANY TO DEVELOP CHINA'S SECOND LARGEST OILFIELD. THE SITE IS LOCATED ABOUT 250 KILOMETERS SOUTHEAST OF BEIJING AND IS ESTIMATED TO CONTAIN MORE THAN ONE BILLION BARRELS OF OIL.(SIGNED)
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18-Sep-98 5:18 PM EDT (2118 UTC)
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Source: Voice of America

[08] FRIDAY'S EDITORIALS BY NICK SIMEONE (WASHINGTON)

INTRO: THE DEBATE IN CONGRESS OVER WHETHER TO RELEASE INFORMATION CONTAINED IN THE STARR REPORT ON PRESIDENT CLINTON'S AFFAIR WITH MONICA LEWINSKY CONTINUES WAS A MAJOR TOPIC OF EDITORIAL COMMENT IN SOME OF THE NATION'S LEADING NEWSPAPERS. HERE IS ______________ WITH A LOOK AT WHAT SOME OF THE NATION'S NEWSPAPERS ARE SAYING IN TODAY'S EDITORIAL DIGEST.

TEXT: THE BREAKDOWN IN BIPARTISANSHIP AMONG MEMBERS OF THE HOUSE JUDICIARY COMMITTEE OVER WHETHER TO LET THE NATION SEE THE PRESIDENT'S VIDEOTAPED TESTIMONY BEFORE A FEDERAL GRAND JURY IS PROVOKING SHARP COMMENT FROM NEWSPAPERS, SUCH AS THE NEW YORK TIMES. THAT PAPER FULLY SUPPORTS RELEASE OF THE VIDEOTAPE.

VOICE: MR. CLINTON HIMSELF MADE THE VIDEOTAPE OF HIS GRAND JURY APPEARANCE RELEVANT BECAUSE OF HIS INSISTENCE THAT HE DID NOT COMMIT PERJURY IN DENYING THAT HE HAD SEXUAL RELATIONS WITH MS. LEWINSKY. HIS ASSERTION THERE AND IN THE ACCOUNT HE GAVE IN THE PAULA JONES CIVIL SUIT IS DEBUNKED BY THE EVIDENCE PRESENTED IN KENNETH STARR'S REPORT. BUT SINCE MR. CLINTON HAS TAKEN A POSITION CONTRARY TO THE FACTS NOW ON RECORD, THE AMERICAN PEOPLE SHOULD HAVE THE CHANCE TO SEE HIS TESTIMONY IN ITS TOTALITY SO THEY CAN ASSESS HIS CANDOR.

TEXT: A CONTINENT AWAY, THE SAN FRANCISCO CHRONICLE WARNS THAT THE ON-GOING INVESTIGATION INTO THE LEWINSKY MATTER, WHICH IS NOW IN THE HANDS OF CONGRESS, IS LIKELY TO DO THE NATION LITTLE GOOD.

VOICE: THE LIKELY OUTCOME IS NEITHER SIDE WILL WIN. INSTEAD, THERE WILL BE DISGUST AND CYNICISM THAT MAKES VOTERS WALK AWAY FROM POLLING BOOTHS AND CAMPAIGN VOLUNTEERISM. FADING AWAY IS A BELIEF THAT ELECTED LEADERS ESPOUSE SUPPORTABLE BELIEFS. POLITICS IS LOSING THE BELIEF SYSTEM THAT SUSTAINS ITS. THE CLINTON SCANDAL, MORE SO EVERY DAY, IS BECOMING A TEST OF WASHINGTON'S ESSENTIAL CHARACTER.

TEXT: THE DALLAS MORNING NEWS COMES OUT FIRMLY AGAINST RELEASING THE CLINTON VIDEOTAPE TO THE PUBLIC, WARNING IT COULD HAVE RAMIFICATIONS FOR THE FUTURE.

VOICE: THE (JUDICIARY) COMMITTEE SHOULD RESIST THE URGE TO RELEASE THE VIDEOTAPES. THE COMMITTEE SHOULD INSTEAD PRESENT MR. CLINTON'S VIDEOTAPED TESTIMONY TO OTHER HOUSE MEMBERS BEHIND CLOSED DOORS. TO RELEASE THE GRAND JURY VIDEOTAPES WOULD CREATE A TROUBLING PRECEDENT THAT WOULD AFFECT FUTURE PRESIDENTS FROM EITHER PARTY.

TEXT: ON FOREIGN AFFAIRS, U-S-A TODAY EXAMINES THE SITUATION IN RUSSIA. IN A FRIDAY EDITORIAL, THE PAPER EXPRESSES CONCERN ABOUT THE APPROACH THE NEW RUSSIAN GOVERNMENT MAY BE TAKING TOWARD THE ECONOMY -- AND RAISES QUESTIONS ABOUT WHAT, IF ANYTHING, THE UNITED STATES SHOULD DO AT THIS POINT TO HELP.

VOICE: PERHAPS THE ANSWER IS TO HELP WITH SOMETHING OTHER THAN MONEY -- AN IDEA THAT HAS BEEN ON THE AID COMMUNITY'S BACK BURNER IN RECENT YEARS. OFFERING FOOD PACKAGES, FUEL AND HOUSING MAY SEEM QUAINT AND COULD PROMPT RUSSIA TO SNIFF THAT IT'S NOT ETHIOPIA. BUT DIRECT AID WOULD MEET U-S OBJECTIVES OF BUILDING GOOD WILL AND HELPING RUSSIANS IN NEED.

TEXT: THAT'S JUST A SAMPLING OF FRIDAY'S EDITORIALS IN THE AMERICAN PRESS.
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18-Sep-98 1:21 PM EDT (1721 UTC)
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Source: Voice of America

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