Voice of America, 97-09-21

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

CONTENTS

[01] SERBIA/ELECTION (L ONLY) BY PAMELA TAYLOR (ZRENJANIN)

[02] SOROS (L) BY BARRY WOOD (HONG KONG)

[01] SERBIA/ELECTION (L ONLY) BY PAMELA TAYLOR (ZRENJANIN)

INTRO: VOTERS IN SERBIA WENT TO THE POLLS (SUNDAY) IN NUMBERS CONSIDERED LARGE ENOUGH TO EFFECTIVELY UNDERMINE AN OPPOSITION BOYCOTT. ALTHOUGH OFFICIAL RESULTS WILL NOT BE KNOWN FOR SEVERAL DAYS, THE CANDIDATE HANDPICKED BY YUGOSLAV PRESIDENT SLOBODAN MILOSEVIC IS WIDELY EXPECTED TO WIN THE SERBIAN PRESIDENCY. PAMELA TAYLOR REPORTS FROM THE TOWN OF ZRENJANIN MANY VOTERS SAY THEY HOPE POLITICAL CHANGE WILL COME AT THE LOCAL LEVEL.

TEXT: ONLY A HANDFUL OF VOTERS IN THE TOWN OF ZRENJANIN, 40-KILOMETERS NORTH OF BELGRADE, SUPPORTED THE ELECTION BOYCOTT CALLED BY OPPOSITION LEADER, ZORAN DJINDJIC -- THE MAYOR OF BELGRADE. MOST VOTERS IN THE TOWN OF 100-THOUSAND VOTED OUT OF DUTY TO EXERCISE THEIR DEMOCRATIC RIGHT.

SASHA AND HIS FRIEND DRAGAN ECHOED A COMMONLY HEARD VIEW AMONG OPPOSITION SUPPORTERS THAT UNUSED BALLOTS WOULD BE FRAUDULENTLY USED BY MR. MILOSEVIC'S RULING SOCIALIST PARTY. ANOTHER YOUNG VOTER, VERA IBONIC, PREDICTED MOST YOUNG PEOPLE IN ZRENJANIN WILL VOTE FOR THE OPPOSITION, WHILE THEIR PARENTS WILL VOTE FOR THE RULING SOCIALISTS:

THE PENSIONERS ALWAYS VOTE FOR MILOSEVIC BECAUSE THEY GET THEIR PORTION OF MONEY BEFORE THE ELECTIONS AND THEY ARE USUALLY MORE CONSERVATIVE BECAUSE A LOT OF PENSIONERS WERE PARTISANS IN WORLD WAR TWO.

BUT MILAN RADOSAVLEVI SAYS THERE IS ANOTHER REASON OLDER PEOPLE VOTE FOR THE SOCIALIST PARTY, BESIDES THE PARTISAN SOLIDARITY THEY SHARE WITH MR. MILOSEVIC:

THE MAJORITY OF PEOPLE ARE AFRAID NOT TO VOTE BECAUSE THEY THINK THERE WILL BE BAD CONSEQUENCES IF THEY DO NOT COME OUT TO VOTE.

MR. RADOSAVLEVIC SAID IN THE LAST ELECTIONS AN OFFICIAL SAW HIS MOTHER VOTE FOR AN OPPOSITION CANDIDATE AND HER NAME WAS DROPPED FROM THE ELECTION LIST THIS YEAR. ANOTHER VOTER TOLD A SIMILAR STORY.

IT IS AT THE PARLIAMENTARY LEVEL WHERE MOST PEOPLE SAY THEY HOPE SOME CHANGE WILL OCCUR. IN THIS PART OF SERBIA, THE ONCE AUTONOMOUS PROVINCE OF VOJVODINA, THERE ARE A TOTAL OF 190 CANDIDATES FOR PARLIAMENT, MANY OF THEM MEMBERS OF FOUR POPULAR ETHNIC-HUNGARIAN PARTIES. HERE, THERE IS A REALIZATION CHANGE IN SERBIA WILL COME FROM THE GROUND UP AND NOT THE OTHER WAY AROUND. (SIGNED)
NEB/PM/DW/RAE
21-Sep-97 2:15 PM EDT (1815 UTC)
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Source: Voice of America

[02] SOROS (L) BY BARRY WOOD (HONG KONG)

INTRO: AT THE INTERNATIONAL MONETARY FUND AND WORLD BANK MEETING IN HONG KONG, FINANCE MINISTERS DISCUSSED GLOBAL ECONOMIC PROSPECTS AND MONETARY TURMOIL IN ASIA. BUT V-O-A'S BARRY WOOD REPORTS THE REAL ATTENTION (SUNDAY) WAS ON A SPEECH BY FINANCIER GEORGE SOROS.

TEXT: MR. SOROS ADDRESSED AN AUDIENCE OF SEVERAL-HUNDRED BANKERS AT A SEMINAR ON GLOBAL ECONOMIC INTEGRATION. HE WARNED OF THE INSTABILITY IN THE FINANCIAL SYSTEM AND SPOKE AGAINST FREE-MARKET IDEOLOGUES WHO SAY MARKETS REQUIRE LITTLE OR NO REGULATION. MR. SOROS SAID WHILE HE SEES NO IMMEDIATE DANGER OF A FINANCIAL BREAKDOWN, THE SYSTEM REQUIRES CLOSE SCRUTINY.

BUT THE REAL ATTENTION CAME WHEN MR. SOROS DEPARTED FROM HIS PREPARED SPEECH TO RESPOND TO A PROPOSAL BY THE MALAYSIAN PRIME MINISTER CURRENCY SPECULATION BE OUTLAWED. MR. SOROS, WHOSE INVESTMENT FUNDS OFTEN SPECULATE IN CURRENCIES, SAID IT IS PREPOSTEROUS TO THINK CURRENCY TRADING COULD BE BANNED. HE SAID THERE ARE NUMEROUS BENEFITS OF SUCH TRADING AS IT PERMITS MARKET FORCES TO DETERMINE VALUE, SOMETHING HE BELIEVES IS FAR MORE EFFICIENT THAN ALTERNATIVES.

MR. SOROS SAID MASSIVE GOVERNMENT INTERFERENCE IN THE CAPITAL MARKETS WOULD HAVE BAD RESULTS.

DR. MAHATHIR (THE MALAYSIAN PRIME MINISTER) SUGGESTED YESTERDAY TO BAN CURRENCY TRADING. BUT THIS IS SUCH AN INAPPROPRIATE SUGGESTION THAT IT DOES NOT DESERVE SERIOUS CONSIDERATION. INTERFERING WITH THE CONVERTIBILITY OF CAPITAL AT A MOMENT LIKE THIS IS A RECIPE FOR DISASTER. DR. MAHATHIR IS A MENACE TO HIS OWN COUNTRY.

IN HIS EARLIER REMARKS, THE MALAYSIAN PRIME MINISTER SAID DEVELOPING COUNTRIES ARE AT THE MERCY OF MUTUAL FUND MANAGERS LIKE MR. SOROS. HE SAID THERE IS A CONSPIRACY TO PREVENT DEVELOPING COUNTRIES FROM RISING TO THE INCOME LEVELS OF THE RICH WESTERN INDUSTRIAL NATIONS.

BANKERS ATTENDING THE I-M-F GATHERING DISMISS SUGGESTIONS CURRENCY TRADING BE BANNED. SUCH ACTIVITY HAS PRODUCED A HUGE FINANCIAL SERVICES INDUSTRY THAT EMPLOYS TENS-OF-THOUSANDS THROUGHOUT THE WORLD. BANKERS AGREE, IN THE WAKE OF THE SPECULATIVE ATTACK AND DEVALUATION OF ASIAN CURRENCIES, INVESTORS HAVE BECOME NERVOUS. THEY SAY CAPITAL FLOWS TO SOME ASIAN COUNTRIES WILL INEVITABLY DIMINISH. (SIGNED)
NEB/BDW/RAE
21-Sep-97 8:40 AM EDT (1240 UTC)
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Source: Voice of America

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