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Voice of America, 99-01-04Voice of America: Selected Articles Directory - Previous Article - Next ArticleFrom: The Voice of America <gopher://gopher.voa.gov>CONTENTS
[01] EURO TRADING (S ONLY) BY RON PEMSTEIN (BRUSSELS)DATE=1/3/99TYPE=CORRESPONDENT REPORT NUMBER=2-243710 CONTENT= VOICED AT: INTRO: EUROPE'S SINGLE CURRENCY -- THE EURO -- MAKES ITS DEBUT ON THE WORLD'S CURRENCY MARKETS MONDAY. RON PEMSTEIN REPORTS FROM BRUSSELS THERE IS CONFIDENCE BANKS AND STOCK MARKETS IN EUROPE WILL BE READY. TEXT: THE NEW SINGLE CURRENCY BECAME LEGAL AT MIDNIGHT ON NEW YEAR'S DAY, BUT MONDAY IS THE FIRST BUSINESS DAY TO TEST THE EURO'S VALUE IN THE WORLD'S MONEY MARKETS. IN ALL 11 OF THE 15 EUROPEAN UNION MEMBERS, PEOPLE WILL BE ABLE TO OPEN BANK ACCOUNTS IN EUROS AND WILL BE ABLE TO WRITE CHECKS AND CARRY OUT OTHER NON-CASH TRANSACTIONS. BANKNOTES AND COINS WILL NOT BE INTRODUCED UNTIL THE YEAR 2002, WHEN THE 11 NATIONAL CURRENCIES WILL BE ELIMINATED. EUROPEAN BANKERS AND STOCK MARKET ANALYSTS REPORT THEIR COMPUTERS
ARE READY TO HANDLE TRADING IN THE NEW CURRENCY. SUPPORTERS OF
THE SINGLE EUROPEAN CURRENCY EXPECT ITS VALUE TO RISE OVER TIME
AND FOR THE EURO TO BECOME AN ALTERNATIVE TO THE AMERICAN DOLLAR
AS THE WORLD'S PREFERRED CURRENCY. (SIGNED)
[02] EURO / ASIAN DEBUT (L) BY AMY BICKERS (HONG KONG)DATE=1/4/99TYPE=CORRESPONDENT REPORT NUMBER=2-243738 CONTENT= VOICED AT: INTRO: THE NEW EUROPEAN CURRENCY -- THE EURO -- DEBUTED ON PACIFIC RIM MARKETS MONDAY. AS AMY BICKERS REPORTS, ASIAN INVESTORS WELCOMED THE NEW CURRENCY DESPITE CONCERNS IT COULD LEAD TO A WEAKER DOLLAR. TEXT: THE WORLD'S NEWEST CURRENCY -- THE EURO -- WAS LAUNCHED MONDAY AND THE FIRST DAY OF ASIAN TRADING COULD NOT HAVE BEEN BETTER. THE CURRENCY RECEIVED A SOLID RECEPTION ON TRADING FLOORS FROM TOKYO TO SINGAPORE. ITS STRENGTHENED MORE THAN ONE CENT, CLIMBING NEAR ONE-DOLLAR, 19-CENTS FROM ITS OPENING PRICE OF ONE-DOLLAR AND 17-AND-A-HALF CENTS. TOM BRICE, A SINGAPORE-BASED CURRENCY ANALYST, SAYS THERE WAS A LOT OF CURIOSITY ABOUT THE CURRENCY, WITH MANY CORPORATE AND INDIVIDUAL CUSTOMERS CALLING TO FIND OUT HOW THE EURO WAS FARING. /// TOM BRICE ACT///FOR AS EARLY AS IT'S BEEN (IN THE MORNING), IT'S ENJOYED QUITE A NICE RISE AS WELL AS PRETTY GOOD DEPTH AS FAR A LIQUIDITY IS CONCERNED. I DON'T THINK THAT WE'VE SEEN AS MUCH VOLUME AS WE WOULD NOSMALLY!HAVE SEEN IN THE DOLLAR MARKET AND IF THE BALANCE OF THE EUROPEAN CURRENCY IS AGAINST DOLLAR, BUT GIVEN THE NATURE OF THE MOVE, THE QUICKNESS OF THE MOVE, I THINK WE HAVE SEEN SOME PRETTY SUBSTANTIAL VOLUMES. ///END ACT///ANALYSTS SAY THE EURO'S STRONG FIRST DAY IN ASIA SHOWS INVESTORS ARE OPTIMISTIC ABOUT THE EUROPEAN ECONOMY. THE 11 EUROPEAN NATIONS THAT LAUNCHED THE EURO REPRESENT 20 PERCENT OF WORLD ECONOMIC OUTPUT AND ABOUT 19 PERCENT OF WORLD TRADE. WHILE THE NATIONAL CURRENCY OF THESE COUNTRIES WILL REMAIN IN EXISTENCE UNTIL THE YEAR 2,000, MONDAY'S LAUNCH MEANS THE EURO CAN NOW BE USED INSTEAD OF LOCAL CURRENCIES FOR ELECTRONIC TRANSACTIONS SUCH AS CROSS-BORDER PAYMENTS AND INVESTMENTS. IT'S NOT JUST LARGE INSTITUTIONS AND CENTRAL BANKS THAT HOLD THE EURO. MARSHALL GUTLER, A HONG KONG-BASED CURRENCY STRATEGIST FOR BANK OF AMERICA, EXPECTS MANY SMALL INVESTORS AROUND ASIA WILL USE IT. /// GUTLER ACT ///A LOT OF COMPANIES HAVE BEEN OFFERING EURO-DENOMINATED MONEY MARKET FUNDS AND EURO-DENOMINATED INVESTMENT TRUSTS. IT IS A VERY BIG PLAY IN JAPAN. AND IT HELPS PEOPLE DIVERSIFY, TO GET SOME OF THEIR EGGS OUT OF THE OTHER BASKET, SO THAT THEY DON'T HAVE ALL OF THEIR MONEY IN DOLLARS. // END ACT//BUT NOT ALL INVESTORS ARE PLEASED WITH THE EURO'S DEBUT. SHARE-HOLDERS IN JAPAN AND HONG KONG SAW THOSE MARKETS PLUNGE MONDAY, THE FIRST DAY OF TRADING FOR 1999. TOKYO STOCKS FELL THREE PERCENT AND HONG KONG STOCKS LOST MORE THAT TWO PERCENT. DEALERS SAID IT WAS A REACTION TO THE STRONG EURO -- WHICH PUSHED
THE DOLLAR LOWER. THAT LIFTED THE JAPANESE YEN, WHICH HURTS
PROSPECTS FOR RECOVERY IN THAT COUNTRY. (SIGNED)
[03] EURO / ASIA-PACIFIC (S) BY AMY BICKERS (HONG KONG)DATE=1/4/99TYPE=CORRESPONDENT REPORT NUMBER=2-243724 CONTENT= VOICED AT: INTRO: THE NEW EUROPEAN CURRENCY,THE EURO, DEBUTED ON PACIFIC RIM MARKETS MONDAY. AMY BICKERS REPORTS ON HOW THE CURRENCY IS FARING IN ITS FIRST ASIAN SESSION. TEXT: SO FAR, SO GOOD FOR THE EURO. THE NEW EUROPEAN CURRENCY GAINED SOME GROUND IN EARLY ASIAN TRADING MONDAY-- ITS FIRST DAY IN EXISTENCE. THE CURRENCY WAS HOVERING BETWEEN 1-POINT-174 AND 1-POINT-185 ON THE DOLLAR. TRADERS FORECAST THE CURRENCY WILL RISE TO ONE-DOLLAR 22-CENTS IN THE COMING MONTHS. DEALERS SAY THE EURO'S BUOYANT FIRST DAY SHOWS INVESTORS ARE BULLISH ON THE PROSPECTS FOR THE EUROPEAN ECONOMY. THE FIRST OFFICIAL TRADE IN THE EURO TOOK PLACE IN AUSTRALIA, WHERE THE NEWSPAPER GROUP, JOHN FAIRFAX, BOUGHT THE EURO THE MOMENT TIE MASKEU OPENED/ THERE HAVE BEEN NO TECHNICAL GLITCHES REPORTED IN TRADING OF THE
NEW CURRENCY, BUT DEALERS SAY MATTERS WILL GET MORE COMPLICATED
DURING THE NEXT WEEK, WHEN THE EURO IS USED FOR BUYING AND
SELLING STOCKS AND BONDS AROUND THE WORLD. (SIGNED)
[04] EURO TRADING (L) BY RON PEMSTEIN (BRUSSELS)DATE=1/4/99TYPE=CORRESPONDENT REPORT NUMBER=2-243739 CONTENT= VOICED AT: INTRO: INVESTORS IN EUROPE HAVE SHOWN CONFIDENCE IN THE CONTINENT'S NEW SINGLE CURRENCY --THE EURO -- ON THE FIRST DAY OF ELECTRONIC TRADING. THEY HAVE BID THE EURO UP AGAINST THE AMERICAN DOLLAR AND STEADY AGAINST THE BRITISH POUND AND SWISS FRANC -- WHICH ARE NOT PART OF THE 11-COUNTRY CURRENCY THAT DEBUTED ON THE MARKETS. RON PEMSTEIN REPORTS FROM BRUSSELS ON HOW THE EURO IS BEING ACCEPTED AT HOME. TEXT: EUROPE'S GREATEST ECONOMIC EXPERIMENT IN ITS MODERN HISTORY APPEARS TO HAVE OPENED STEADY AND STRONG IN FINANCIAL MARKETS AT HOME AND ABROAD. THE SINGLE CURRENCY OF 11 EUROPEAN-UNION MEMBERS HAS THE SUPPORT OF BOTH POLITICIANS AND INVESTORS. BECAUSE TRANSACTIONS IN THE EURO CAN ONLY BE MADE ELECTRONICALLY UNTIL THE YEAR 2002, PUBLIC ENTHUSIASM HAS BEEN MORE RESTRAINED. ON THE FIRST DAY OF TRADING IN BELGIUM, THERE WERE REQUESTS TO CHANGE BANK ACCOUNTS FROM BELGIAN FRANCS TO EUROS BY ONLY 15-THOUSAND PEOPLE -- REPRESENTING ONLY A FRACTION OF THE 31-MILLION BANK ACCOUNTS IN BELGIUM. PETER PRAET (PRON: PRAT) IS AN ECONOMIST WITH GENERAL BANK OF BRUSSELS. HE TELLS V-O-A THE EURO REVOLUTION WILL BE QUIET BECAUSE THE EURO IS NOT READY TO CHALLENGE THE AMERICAN DOLLAR AS THE WORLD'S PREFERRED CURRENCY. ! /// PRAET ACT /// THE LAUNCHING OF THE WHOLE PROJECT IS HAPPENING IN A VERY FAVORABLE WAY. NOW WHEN YOU SAY THE U-S DOLLAR HAS A NEW COMPETITOR IN WORLD FINANCIAL MARKETS, THIS IS TRUE, BUT THIS IS SOMETHING WHICH IS GOING TO COME PROGRESSIVELY. I DO NOT THINK THERE WILL BE A BIG BANG IN THAT RESPECT WHERE PORTFOLIOS WILL BE SHIFTED AWAY FROM THE U-S DOLLAR TO THE EURO. THAT WILL TAKE SOME TIME AND I DO NOT THINK WE ARE GOING TO SEE A VERY DIFFERENT THING FROM WHAT WE WERE DOING WITH THE GERMAN MARK, FOR EXAMPLE, BEFORE THE EURO. /// END ACT ///MR. PRAET SAYS PUBLIC ENTHUSIASM FOR THE NEW CURRENCY REMAINS MUTED SINCE THERE ARE NO EURO BANKNOTES OR COINS FOR THREE-YEARS. BUT THAT SHOULD CHANGE RAPIDLY WITH GROWTH IN ELECTRONIC PAYMENTS BY CHECKS AND CREDIT CARDS. ECONOMIST JEAN CLAUDE KOEUNE (KERNER) OF BELGIUM'S BANK LAMBERT AGREES, SAYING BELGIANS ARE NOT AS DEVOTED TO THEIR NATIONAL CURRENCY AS OTHER EUROPEANS ARE. /// KOENE ACT ///I THINK THAT MOST BELGIANS ARE QUITE HAPPY TO SEE THE BELGIAN FRANC DISAPPEAR IN FAVOR OF THE EURO, ALTHOUGH THIS WILL CREATE PROBLEMS OF MENTAL CONVERSION, ESPECIALLY FOR OLDER PEOPLE. BUT I CAN EXPECT THESE PROBLEMS CAN BE OVERCOME FAIRLY RAPIDLY. /// END ACT ///THE EURO WILL BE MOST WELCOME IN BORDER REGIONS SUCH AS THE AREA WHERE THE NETHERLANDS, BELGIUM, AND GERMANY COME TOGETHER. /// OPT ///NEB/RDP/RAE/JO 04-Jan-99 9:13 AM EST (1413 UTC) NNNN Source: Voice of America [05] N-Y ECON WRAP (S&L)(CQ) BY BRECK ARDERY (NEW YORK)DATE=1/4/99TYPE=CORRESPONDENT REPORT NUMBER=2-243760 CONTENT= VOICED AT: /// EDS: RE-FILING WITH CORRECT NUMBER ///INTRO: STOCK PRICES IN THE UNITED STATES WERE MIXED TODAY (MONDAY) IN AN EXTREMELY VOLATILE SESSION. V-O-A CORRESPONDENT BRECK ARDERY REPORTS FROM NEW YORK. TEXT: THE DOW JONES INDUSTRIAL AVERAGE CLOSED AT 91-HUNDRED-84, UP TWO POINTS. THE STANDARD AND POOR'S 511!MODEY COOWEE!AU! 13-IUNDRED-28- DOWN OOE POINT, AND THE NASDAQ INDEX CLOSED AT A RECORD HIGH. THE FIRST TRADING DAY OF THE NEW YEAR FEATURED EXTREME VOLATILITY. IN THE MORNING, THE INDUSTRIAL AVERAGE WAS UP MORE THAN 160 POINTS. IT WAS DOWN ALMOST 50 POINTS IN THE AFTERNOON, THEN RECOVERED A FEW MINUTES BEFORE THE CLOSE. BEFORE TRADING BEGAN MONDAY, 10 BULLS RAN THROUGH PENS OUTSIDE THE NEW YORK STOCK EXCHANGE IN A SYMBOLIC HOPE THAT 1999 WILL BRING ANOTHER "BULL" MARKET, MARKED BY RISING PRICES. WHEN THE BULLS FINISHED RUNNING, A PANEL OF SIX PROMINENT STOCK ANALYSTS DISCUSSED THE OUTLOOK FOR U-S STOCK PRICES THIS YEAR. THE CONSENSUS WAS GENERALLY POSITIVE, ALTHOUGH SOME SAID THE STRONG GAINS OF THE PAST FOUR YEARS WILL NOT BE SUSTAINED. /// REST OPT ///ONE ANALYST, JOHN MANLEY OF THE SALOMON SMITH BARNEY INVESTMENT FIRM, WAS ACTUALLY NEGATIVE ABOUT THE FIRST FEW MONTHS OF THIS YEAR, ESPECIALLY FOR LARGE-CAPITALIZATION STOCKS. /// MANLEY ACT ////// END ACT ///MONDAY WAS THE FIRST TRADING DAY FOR THE EURO, THE NEW EUROPEAN CURRENCY. U-S TREASURY SECRETARY ROBERT RUBIN WELCOMED THE EURO AND DISMISSED SPECUMETION IU'WILL TIWEAUEN THE STRENGTH OF THE U-S DOLLAR. WALGREEN, THE LARGEST U-S DRUG STORE CHAIN, REPORTED RECORD REVENUES AND PROFITS IN THE LATEST QUARTER. WALGREEN SAYS SOARING SALES OF PRESCRIPTION DRUGS ALONG WITH EFFECTIVE COST CONTROLS WERE THE REASONS FOR THE PROFIT GAIN. THE STOCK OF THE A-T-AND-T TELECOMMUNICATIONS COMPANY HIT A RECORD HIGH AFTER AN ANALYST UPGRADED THE STOCK. A-T-AND-T IS THE MOST WIDELY-HELD STOCK IN THE UNITED STATES. THE STOCK OF NETWORK SOLUTIONS SOARED BY 10 PERCENT AFTER THE COMPANY ANNOUNCED A TWO-FOR-ONE STOCK SPLIT. NETWORK SOLUTIONS IS RESPONSIBLE FOR REGISTERING ADDRESSES ON THE INTERNET'S WORLD WIDE WEB. BELL ATLANTIC, A REGIONAL TELEPHONE COMPANY IN THE UNITED STATES, CONFIRMS IT IS IN NEGOTIATIONS TO BUY AIRTOUCH COMMUNICATIONS, A WIRELESS TELEPHONE COMPANY. ANALYSTS SAY A DEAL COULD BE WORTH AS MUCH AS 45-BILLION DOLLARS. ROBERT EATON, CO-CHAIRMAN OF THE DAIMLER-CHRYSLER CORPORATION,
SAYS HE EXPECTS MORE CONSOLIDATION IN THE GLOBAL AUTO INDUSTRY.
MR. EATON SAYS OF THE 40 MAJOR AUTOMAKERS IN THE WORLD, ONLY 10
ARE CURRENTLY PROFITABLE, AND THE INDUSTRY IS SUFFERING FROM
EXCESS CAPACITY. (SIGNED)
NEB/NY/BA/LSF/WTW
[06] MONDAY'S EDITORIALS BY ANDREW N. GUTHRIE (WASHINGTON)DATE=01/04/99TYPE=U-S EDITORIAL DIGEST NUMBER=6-11081 TELEPHONE=619-3335 EDITOR=ASSIGNMENTS CONTENT= (UNEDITED) ////////INTRO: THE NATION FULLY RETURNS TO WORK THIS MONDAY AFTER THE CHRISTMAS AND NEW YEAR'S HOLIDAYS, AND THE EDITORIAL PAGES ARE FOCUSED ON A NEW REPORT THAT ALLEGES U-S TECHNOLOGY AND MILITARY SECRETS WERE IMPROPERLY PASSED TO CHINA OVER THE PAST TWO DECADES. OTHER TOPICS MAKING THE EDITORIAL PAGES INCLUDE: CONCERN ABOUT FAMINE IN THE SUDAN, A DISCUSSION ON FORGIVING THE DEBT OF POOR NATIONS, THE QUESTION OF PSESIDENTIAL LEADERSHIP, AND SOME! THOUGHTS ON SLOBODAN MILOSEVIC'S LATEST ATTACK IN KOSOVO PROVINCE. NOW, HERE WITH A CLOSER LOOK AND SOME EXCERPTS IS ____________________ AND TODAY'S EDITORIAL DIGEST. TEXT: IN FLORIDA, "THE ORLANDO SENTINEL" IS VERY CONCERNED ABOUT THE POSSIBILITY THAT CHINA ACQUIRED SECRET U-S TECHNOLOGY AS A NEW CONGRESSIONAL REPORT SAYS. THE PAPER SAYS "GREATER VIGILANCE [IS] REQUIRED." VOICE: AN OFFICIAL INQUIRY INTO ALLEGATIONS OF WRONGDOING INVOLVING CHINA HAS PRODUCED DISTURBING CHARGES. IMPROPER TRANSFER OF U-S MILITARY TECHNOLOGY TO CHINA TOPS THE LIST. THAT MAY HAVE COMPROMISED U-S NATIONAL SECURITY. THAT'S SERIOUS STUFF. ... THE UNITED STATES, EVEN AS IT WORKS WITH CHINA, SHOULD HARBOR N O ILLUSIONS. THE CHINESE, JUST LIKE OTHER U-S COMPETITORS, NEED TO BE WATCHED CAREFULLY. TIGHTER CONTROL IS NEEDED OVES SENSITIVE AMERICAN TECINOLOGY.' !'!!!'' /// IT IS ONE THING TO TRADE WITH CHINA AND WATCH ITS ECONOMY GROW, QUITE ANOTHER TO ENHANCE ITS [CHINA'S] MILITARY CAPABILITIES. TEXT: IN A COMPANION EDITORIAL, "THE SENTINEL" ALSO LAMENTS THE RECENT CRACKDOWN ON PRO-DEMOCRACY ACTIVISTS IN CHINA. VOICE: CHINA HAS BEEN BEHAVING BADLY OF LATE. ... IF BEIJING WERE A CHILD, IT WOULD DESERVE A GOOD TONGUE-LASHING. /// OPT ////// OPT ///TEXT: "USA TODAY" IS ALSO UPSET ABOUT THE TECHNOLOGY TRANSFERS TO CHINA, NOTING: VOICE: ... THE REPORT IS DISTURBING BECAUSE IT ALLEGES SUCH PERSISTENT FAILURES OVER SUCH A LONG PERIOD. ... IN OUR ZEAL TO DO BUSINESS WITH!BEIJING- TO BRING CHINA INTO THE COMMUNITY OF NATIONS, RULES HAVE BEEN BENT OR IGNORED. NATIONAL INTERESTS, AS DEFINED BY THE PENTAGON AND STATE DEPARTMENT, HAVE BEEN PUSHED ASIDE TO ACCOMMODATE AGENDAS PURSUED BY U-S COMMERCE. /// END OPT ///TEXT: TURNING TO AFRICAN AFFAIRS, "THE WASHINGTON POST" LAMENTS THE LACK OF ATTENTION TO THE SERIOUS FAMINE IN THE SUDAN. VOICE: IN THE YEAR JUST ENDED, THE FAMINE IN SOUTHERN SUDAN RATED AS ONE OF THE MOST UNDER-REPORTED STORIES IN THE U-S MEDIA, ACCORDING TO DOCTORS WITHOUT BORDERS. /// OPT /// WHAT'S EVEN SADDER IS TO FIND SUDAN ON ANOTHER LIST: WORLD VISION'S PREDICTION OF TEN GLOBAL HOT SPOTS FOR ** NEXT** [ITALICS FOR EMPHASIS] YEAR. /// END OPT TEXT: IN A RELATED TOPIC -- HELPING POOR NATIONS WORLDWIDE IMPROVE THEIR CONDITIONS -- "THE CHRISTIAN SCIENCE MONITOR" IS CALLING FOR MORE DEBT RELIEF FROM THE SEVEN RICHEST NATIONS. VOICE: ... TO AN INTERNATIONAL COALITION OF FAITH-BASED ORGANIZATIONS, JUBILEE TWO-THOUSAND, THE [UNDERSTOOD: "REPAYMENT"] TERMS ARE JUST TOO TOUGH. THEY ARE CALLING FOR MORE AND FASTER DEBT RELIEF FOR THE WORLD'S POOREST NATIONS IN AFRICA AND ELSEWHERE. ... THE TOUGH GUYS IN GERMANY, JAPAN, ITALY, AND THE UNITED STATES WORRY THAT DEBT FORGIVENESS WILL JUST REWARD BAD GOVERNMENT AND LEAD TO PILING ON MORE DEBTS IN THE EXPECTATION OF FUTURE RELIEF. /// OPT ///TEXT: STILL WITH AFRICAN AFFAIRS, TODAY'S "MIAMI HERALD" LAMENTS THE RECENT DEATH OF AN AIDS WORKER, BEATEN TO DEATH AFTER ADMITTING SHE HERSELF HAD H-I-V, BECAUSE OF THE STIGMA THE DISEASE CARRIES. SUGGESTS "THE HERALD:" VOICE: THE PUBLIC-AWARENESS CAMPAIGNS THAT WORK IN THE UNITED STATES AND IN SOME EUROPEAN COUNTRIES!OGTEO!EON'T WORK AS WELL IN THIRD WORLD OR AFRICAN COUNTRIES. PROGRAMS FOR SOUTH AFRICA MUST BE CUSTOMIZED FOR THAT COUNTRY'S UNIQUE CULTURE AND TRADITIONS WITHOUT OSTRACIZING ITS PEOPLE. DONE PROPERLY, IT CAN BE AN EXAMPLE FOR OTHERS TO FOLLOW. AMERICA AND THE WORLD COMMUNITY CAN DO THEIR PART BY HELPING TO SPREAD THE WORD TO SOUTH AFRICA'S SUFFERING MILLIONS. /// END OPT ///TEXT: HERE AT HOME, "THE WALL STREET JOURNAL" -- HIGHLY CRITICAL OF PRESIDENT CLINTON FOR YEARS -- SUGGESTS THAT ALTHOUGH FOREIGN ALLIES ARE WORRIED, THE IMPEACHMENT PROCESS SHOULD TAKE ITS FULL COURSE. VOICE: ... THIS UNPRECEDENTED [IMPEACHMENT] SITUATION HAS RAISED FEARS AMONG AMERICA'S FRIENDS ABROAD THAT THE U-S CONGRESS IS WILLFULLY JEOPARDIZING AMERICA'S AND THEIS# !' !%OWO SECURITY BY PROSECUTING A MAN SOMETIMES DESCRIBED AS THE 'LEADER OF THE FREE WORLD.' ... THE ANSWER ... IS TWO-FOLD. IT IS NOT GOOD FOR THE WORLD'S POLITICAL STABILITY TO HAVE AN AMERICAN PRESIDENT IN THE DOCK (STAND FOR TRIAL). BUT THIS PRESIDENT'S RECORD SHOWS THAT HE IS FAR FROM INDISPENSABLE. THERE IS NO OVERRIDING REASON WHY AMERICAN LAW SHOULD NOT TAKE ITS COURSE IN HIS CASE. TEXT: TURNING TO THE BALKANS, "THE WASHINGTON TIMES" TALKS ABOUT THE CYNICAL SUCCESS OF YUGOSLAV PRESIDENT SLOBODAN MILOSEVIC'S MOST RECENT AGGRESSION IN ETHNIC-ALBANIAN-POPULATED KOSOVO PROVINCE. VOICE: TRUE TO FORM, MR. MILOSEVIC'S MERRY CREW OF GOVERNMENT POLICE LAUNCHED THEIR CHRISTMAS EVE ATTACK ON ETHNIC ALBANIANS IN KOSOVO WITH CURIOUS TIMING. THE CEASEFIRE BROKERED OCTOBER 13TH WAS ONLY GOOD SO LONG AS THE WEST WAS PAYING ATTENTION. SO CHRISTMAS EVE, WHEN THE UNITED STATES WAS EVALUATING DAMAGES DONE IN ITS RECENT BOMBINGS ON IRAQ, AND THE REST OF THE WORLD WAS WONDERING WHETHER PRESIDENT GORE HAD AN EXECUTIVE RING TO IT, [UNDERSTOOD: WHETHER THE TITLE WOULD FIT MR. GORE, A REFERENCE TO THE IMPEACHMENT!OF PRESIDENT ! !CLIOUON] MR/%MIMOSEVIC CALLED 'COAST CLEAR.' /// OPT /// /// OPT ///TEXT: LASTLY, SOME THOUGHTS FROM "THE MIAMI HERALD" REGARDING THE NOW QUESTIONABLE WORKS OF THE GUATEMALAN AUTHOR AND NOBEL-PRIZE WINNER, RIGOBERTA MENCHU, WHO HAS BEEN EXPOSED AS WRITING MUCH THAT WAS NOT TRUE. VOICE: THERE IS A BIT OF MERCY THAT THE EXPOSURE OF RIGOBERTA MENCHU'S EXAGGERATIONS AND OUTRIGHT LIES IN HER 1983 AUTOBIOGRAPHY HAS COME WELL AFTER AN UNEASY PEACE HAS SETTLED OVER GUATEMALA. ... IF NOTHING ELSE, THESE FINDINGS [THAT HER BOOK WAS N O T ACCURATE] ADD ONE MORE BIT OF AMBIGUITY TO A COUNTRY RIFE WITH SHADES OF TRUTH AND PERCEPTION. ... SO RIGOBERTA MENCHU'S SINS PRODUCED A LARGER GOOD ... [UNDERSTOOD: CALLING ATTENTION TO THE ARMY'S REPRESSION OF THE MAYAN INDIAN PEASANTS] ! /// END OPT ///
TE]T;!$OO THAT NOUE, WE!COOCMUDE UHIS SAMPLING OF EDITORIAL
COMMENTS FROM SOME OF MONDAY'S U-S DAILY PAPERS.
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