Voice of America, 97-10-22

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

CONTENTS

[01] ALBANIA / POLITICS BY ANDRE DE NESNERA (LONDON)

[02] ALBANIA AID (L-ONLY) BY JOHN FRASER (BRUSSELS)

[03] CONFLICT RESOLUTION: SERBIA'S NATIONAL MINORITIES BY JUDITH LATHAM (WASHINGTON)

[04] EDITORIAL: NATO: ANCHOR OF STABILITY

[05] EURO STOCKS (S-O) BY PAUL FRANCUCH (LONDON)

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

[07] N-Y / ECON WRAP (S & L) BY MAX RUSTON (NEW YORK)

[08] ROMANIA MONEY (L-ONLY) BY BARRY WOOD (WASHINGTON)

[01] ALBANIA / POLITICS BY ANDRE DE NESNERA (LONDON)

INTRO: A BRITISH EXPERT ON ALBANIA SAYS THE COUNTRY IS FAR MORE STABLE POLITICALLY NOW THAN IT WAS A FEW MONTHS AGO UNDER FORMER LEADER SALI BERISHA. AS CORRESPONDENT ANDRE DE NESNERA REPORTS FROM LONDON, PROFESSOR GEOFFREY STERN FROM THE LONDON SCHOOL OF ECONOMICS SAYS THE WEST IS BEGINNING TO REALIZE ALBANIA MAY BE A PLACE TO INVEST.

TEXT: EARLIER THIS YEAR, ALBANIA WAS PLUNGED INTO CRISIS WITH THE COLLAPSE OF SO-CALLED FINANCIAL PYRAMID SCHEMES. MANY ALBANIANS, HOPING TO GET RICH QUICK, INVESTED HEAVILY IN THESE VENTURES. MANY LOST THEIR LIFE SAVINGS, AND THE FINANCIAL DISASTER FORCED THOUSANDS OF ALBANIANS INTO THE STREETS.

THE INITIAL PROTESTS BROUGHT ON BY THE COLLAPSE OF THE PYRAMID SCHEMES TURNED INTO FULL-BLOWN ANTI-GOVERNMENT DEMONSTRATIONS. THE TARGET OF THE ALBANIANS' WRATH WAS PRESIDENT SALI BERISHA WHO RESPONDED WITH A STATE OF EMERGENCY AND REFUSED TO COMPROMISE. THE COUNTRY WAS DESCENDING INTO CIVIL WAR AS ARMED ALBANIANS ROAMED THE CITY STREETS.

PRESIDENT BERISHA WAS ULTIMATELY FORCED TO GIVE IN AS INTERNATIONAL PRESSURE MOUNTED FOR A PEACEFUL SOLUTION TO THE CRISIS. PARLIAMENTARY ELECTIONS WERE HELD AT THE END OF JUNE AND AS A RESULT, THE SOCIALIST PARTY -- THE RENAMED COMMUNISTS -- CAME BACK TO POWER WITH A SIZABLE MAJORITY.

THE CURRENT HEAD OF THE ALBANIAN GOVERNMENT IS PRIME MINISTER FATOS NANO -- A FORMER PREMIER UNDER THE COMMUNIST REGIME.

LONDON SCHOOL OF ECONOMICS PROFESSOR GEOFFREY STERN KNOWS MR. NANO. PROFESSOR STERN SAYS THE LAST TIME HE MET HIM, THE ALBANIAN PRIME MINISTER WAS TALKING MORE LIKE A NEO-CONSERVATIVE THAN A FORMER COMMUNIST.

WHAT HAS HAPPENED TO HIM IS WHAT HAS HAPPENED TO SO MANY OF THE OTHER FORMER COMMUNISTS -- THEY HAVE LEARNED THEIR LESSON AND REALIZE THAT THERE IS A GLOBAL ECONOMY NOW. AND IF YOU WANT TO GET HELP FROM THE OUTSIDE, IT IS NO GOOD TALKING LIKE OLD COMMUNISTS. YOU HAVE TO PAY ATTENTION TO POTENTIAL INVESTORS, AND THAT MEANS YOU HAVE TO GO IN FOR THINGS LIKE PRIVATIZATION. IT MEANS THAT YOU HAVE TO GO IN FOR REFORM. IT MEANS THAT YOU HAVE TO ALLOW THE OPPOSITION THEIR SAY -- AND ALL THESE THINGS ARE BEGINNING TO HAPPEN IN THE NEW ALBANIA.

PROFESSOR STERN SAYS PRIME MINISTER NANO IS FACED WITH A DAUNTING TASK, AS HE TRIES TO REBUILD AN ECONOMY SHATTERED BY DECADES OF MISMANAGEMENT. BUT HE SAYS THE POLITICAL SITUATION INSIDE THE COUNTRY IS FAR BETTER NOW THAN IT WAS SIX-MONTHS AGO.

SO MUCH SO, THAT THE WORLD BANK -- OR RATHER THE "CREDIT FOR REHABILITATION FOR ALBANIA," WHICH IS A WORLD BANK SUBSIDIARY -- IS PREPARED TO GIVE MONEY -- SOMETHING LIKE 20-MILLION DOLLARS -- TO ALBANIA. IT IS ALSO THE CASE THAT THE UNITED NATIONS DEVELOPMENT PROGRAM IS PREPARED TO GIVE MONEY TO ALBANIA, AND SO IS GEORGE SOROS, WITH THE SOROS FOUNDATION BEING INTERESTED IN THE EDUCATION OF ALBANIANS. SO ALBANIA IS NO LONGER A PARIAH IN THE WORLD.

THE BRITISH EXPERT ON ALBANIA SAYS ONE OF THE MAIN PROBLEMS FACING THE NANO GOVERNMENT IS HOW TO GET PEOPLE BACK TO WORK, SINCE THERE IS MASSIVE UN-EMPLOYMENT. HE SAYS THE COUNTRY ALSO NEEDS HELP TO REBUILD ITS INDUSTRY AND INFRASTRUCTURE.

AT THE SAME TIME, PROFESSOR STERN SAYS ALBANIA DOES HAVE ASSETS WHICH COULD TEMPT WESTERN INVESTORS.

IT IS A TINY COUNTRY AND FOR ITS SMALL SIZE, IT HAS AN ENORMOUS AMOUNT OF INDIGENOUS RAW MATERIALS WHICH THE REST OF THE WORLD WOULD BE KEEN TO EXPLOIT. THERE IS A NEW OIL WELL, FOR EXAMPLE, THAT HAS JUST GONE INTO PRODUCTION IN SOUTHERN ALBANIA -- SO IT IS A COUNTRY WHICH IS POTENTIALLY WEALTHY. IT HAS OIL. IT HAS COPPER. IT HAS GOLD. IT HAS NAPHTA. IT HAS ALL KINDS OF REALLY IMPORTANT RAW MATERIALS. SO IT IS WORTH INVESTING IN THE COUNTRY. BUT OF COURSE PEOPLE WILL NOT WANT TO INVEST IN THE COUNTRY UNLESS THEY KNOW THAT IT IS RELATIVELY SECURE AND THE DISORDER OF THE PAST HAS GONE.

PROFESSOR STERN BELIEVES PRIME MINISTER FATOS NANO COULD GIVE ALBANIA THE DEGREE OF ORDER AND STABILITY NEEDED FOR IT TO PROSPER. HE SAYS MORE AND MORE PEOPLE ARE WILLING TO GIVE MR. NANO A CHANCE TO -- IN PROFESSOR STERN'S WORDS -- MOVE THE COUNTRY FROM THE 19TH TO THE 21ST CENTURY. (SIGNED)
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22-Oct-97 11:05 AM EDT (1505 UTC)
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Source: Voice of America

[02] ALBANIA AID (L-ONLY) BY JOHN FRASER (BRUSSELS)

INTRO: ALBANIA IS TO RECEIVE INTERNATIONAL AID OF 500-MILLION DOLLARS, FOLLOWING PLEDGES MADE AT AN INTERNATIONAL DONORS' CONFERENCE WEDNESDAY IN BRUSSELS. DETAILS FROM BRUSSELS AND REPORTER JOHN FRASER.

TEXT: ALBANIAN PRIME MINISTER FATOS NANO WELCOMED WHAT HE TERMED THE COOPERATION AND PARTNERSHIP DISPLAYED BY DONOR NATIONS AT THE CONFERENCE HOSTED BY THE EUROPEAN UNION, AND HE SAID HE WAS SATISFIED BY THE PLEDGES WHICH WERE MADE.

HE SUGGESTED HIS REGIME IS WINNING MORE SUPPORT THAN THE OUSTED GOVERNMENT OF EX-PRESIDENT SALI BERISHA, WHICH DISINTEGRATED AFTER WEEKS OF ANARCHY EARLIER THIS YEAR. MR. NANO, WHO IS A SOCIALIST, HEADS A FIVE-PARTY COALITION WHICH TOOK POWER IN JUNE AFTER EMERGENCY ELECTIONS. THE COUNTRY HAD BEEN THROWN INTO CHAOS BY THE COLLAPSE OF A NUMBER OF QUICK-PROFIT INVESTMENTS (PYRAMID SCHEMES), AS A RESULT OF WHICH MANY ALBANIANS LOST THEIR LIFE SAVINGS.

MR. NANO GAVE ASSURANCES HIS GOVERNMENT WILL TAKE ACTION TO AVOID SIMILAR SCANDALS, AT THE SAME TIME AS TAKING MEASURES TO RE-STABILIZE THE ALBANIAN ECONOMY, AND TO BRING DOWN INFLATION.

HE SAID THAT HE EXPECTS INFLATION TO REACH 50-PERCENT BY THE END OF THIS YEAR, BUT HE HOPES IT WILL COME DOWN TO NO MORE THAN 18-PERCENT NEXT YEAR, CREATING THE CONDITIONS FOR A RESUMPTION OF SUSTAINABLE GROWTH.

HE PROMISED MEASURES WILL BE TAKEN TO PROTECT THE MOST VULNERABLE IN SOCIETY FROM THE IMPACT OF AUSTERITY MEASURES. MR. NANO SAID THE AID WILL BE USED TO PUT ALBANIA ON THE PATH TO ECONOMIC RECOVERY, POLITICAL STABILITY, AND INTEGRATION INTO INTERNATIONAL INSTITUTIONS.

THE BRUSSELS CONFERENCE, WHICH DISCUSSED AID TO EUROPE'S POOREST COUNTRY, WAS ATTENDED BY REPRESENTATIVES OF MORE THAN 28 COUNTRIES AND 11 INTERNATIONAL ORGANIZATIONS.

DONORS WILL MEET AGAIN IN THE SPRING TO DISCUSS PROPOSALS TO BOOST TOTAL AID TO 900-MILLION DOLLARS DURING THE NEXT THREE-YEARS.

THE HEAD OF THE U-S DELEGATION TO THE BRUSSELS CONFERENCE, JAMES HOLMES FROM THE STATE DEPARTMENT, PRAISED EFFORTS BEING MADE BY THE ALBANIAN GOVERNMENT TO RECOVER FROM THE RECENT CHAOS, AND HE DESCRIBED THE MEASURES BEING PLANNED AS DIFFICULT, BUT ESSENTIAL.

APPEALS WERE MADE AT THE CONFERENCE FOR MORE ACTION TO RESTORE LAW AND ORDER TO CREATE THE RIGHT CLIMATE FOR REFORMS TO SUCCEED. (SIGNED)
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22-Oct-97 2:37 PM EDT (1837 UTC)
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Source: Voice of America

[03] CONFLICT RESOLUTION: SERBIA'S NATIONAL MINORITIES BY JUDITH LATHAM (WASHINGTON)

INTRO: FOR DECADES, THE FORMER YUGOSLAVIA WAS A MULTI-ETHNIC STATE. BUT, AFTER FOUR YEARS OF WAR WAGED OVER ISSUES OF "NATIONALITY," RELIGION, AND ETHNICITY, SERBIA -- THE LARGEST OF THE YUGOSLAV SUCCESSOR STATES -- IS STILL A

TEXT: RADMILA MILENTIJEVIC (RAHD-MEE-LAH MEE-LEN-TYAY-VITCH], THE LEADING SPOKESPERSON FOR SLOBODAN MILOSEVIC, IS MINISTER OF INFORMATION FOR THE REPUBLIC OF SERBIA. SHE SAYS SERBIA, WHICH MAKES UP ALMOST 95 PERCENT OF TODAY'S FEDERAL REPUBLIC OF YUGOSLAVIA, IS STILL, IN HER WORDS, A "VERY MULTICULTURAL COMMUNITY."

TAPE: CUT ONE -- MILENTIJEVIC (0:36) "WE HAVE MORE THAN 35 PERCENT REPRESENTED BY VARIOUS NATIONAL MINORITIES. THE LARGEST, OF COURSE, IS THE ALBANIAN NATIONAL MINORITY, CONCENTRATED IN WHAT WE KNOW AS KOSOVO AND METOHIA. THEN WE HAVE A LARGE HUNGARIAN MINORITY. THEN WE HAVE SLOVAKS AND RUTHENIANS AND ROMA -- THE 'GYPSIES.' WE HAVE SOME BULGARIANS, WE HAVE ROMANIANS, WE HAVE SOME GERMANS, WE HAVE OTHER NATIONAL MINORITIES AS WELL. BUT THE TWO LARGEST ONES ARE THE ALBANIAN NATIONAL MINORITY AND THE HUNGARIAN NATIONAL MINORITY."

TEXT: A U.S. RESIDENT FOR 42 YEARS WHO RETAINS DUAL CITIZENSHIP, MS. MILENTIJEVIC IS FORMER CHAIR OF THE HISTORY DEPARTMENT AT CITY UNIVERSITY OF NEW YORK. SHE WAS BORN IN SERBIA AND SAYS SHE TOOK AN EARLY RETIREMENT LAST WINTER TO RETURN HOME. THE NEW CONSTITUTION ADOPTED IN 1991, ACCORDING TO SERBIA'S MINISTER OF INFORMATION, RECOGNIZES THE RIGHTS OF ALL NATIONAL MINORITIES.

TAPE: CUT TWO -- MILENTIJEVIC (0:50) "THE CONSTITUTION OF THE REPUBLIC OF SERBIA GUARANTEES CIVIL RIGHTS TO ITS CITIZENS. SO, AS CITIZENS, THEY HAVE ALL THE RIGHTS, ALL THE PRIVILEGES, AND ALL THE RESPONSIBILITIES THAT I HAVE OR ANYONE ELSE. IN THIS RESPECT THEIR FREEDOM IS NOT LIMITED. THEY HAVE THEIR ETHNIC HISTORY, CULTURE, HISTORY, LANGUAGE, BACKGROUND. THEIR NEEDS ARE SERVICED. THEY ARE SERVICED THROUGH THEIR ETHNIC NEWSPAPERS. WE HAVE RADIO PROGRAMS, WE HAVE TELEVISION PROGRAMS. WHAT WE DO NOT HAVE AT THE HIGHEST LEVELS, WE DO NOT HAVE UNIVERSITIES THAT ARE CONDUCTED IN THE HUNGARIAN LANGUAGE OR THE ALBANIAN, FOR THAT MATTER. EDUCATION AT THE HIGHEST LEVEL IS CONDUCTED IN THE LANGUAGE OF THE COUNTRY IN WHICH WE LIVE. THAT MEANS SERBIAN."

TEXT: HOWEVER, SESKA STANOJLOVIC [SHESH-KAH STAH-NOY-LOH-VITCH] OF THE HENSINKI COMMITTEE FOR HUMAN RIGHTS IN SERBIA HAS A DIFFERENT OPINION ABOUT THE RIGHTS OF NON-SERBS UNDER THE NEW CONSTITUTION. TAPE B: CUT ONE -- STANOJLOVIC (ESTABLISH SERBIAN FOR 5 SECONDS AND FADE) TAPE A: CUT THREE -- ENGLISH TRANSLATION (1:01) "WE SHOULD ALSO REMEMBER THAT SERBIA'S CONSTITUTION ON PAPER SOUNDS VERY LIBERAL BECAUSE IT DOES NOT DEFINE 'SERBIA' AS THE SERBIAN PEOPLE; IT DEFINES SERBIA AS 'A STATE OF ALL ITS CITIZENS.' BUT PROBLEMS OCCUR ON THE GROUND [IN PRACTICE]. THE CREATION OF ETHNICALLY CLEAN STATES IN THIS REGION BEING THE CHIEF PROBLEM, WE HAVE TO KEEP IN MIND THAT SERBIA HAS NOW COME OUT OF THIS WAR AS A MULTI-ETHNIC STATE. IT HAS BEEN DEFEATED, AND IT'S NOW STUCK WITH ALL THE SAME PROBLEMS FOR WHICH IT WENT TO WAR AND CAUSED THIS WAR IN THE FIRST PLACE. IN FACT, MANY OF THESE ORIGINAL PROBLEMS THAT SERBIA HAD HAVE MULTIPLIED OVER THESE LAST SEVEN YEARS. THEREFORE, SERBIA HAS YET TO START FACING UP TO THE PROBLEMS IT HAS AND TO THE ETHNIC MINORITIES IT HAS. AND AT THIS MOMENT SERBIA IS UNDER GREAT INTERNATIONAL PRESSURE TO START RESOLVING THE CONFLICT WITH THE ALBANIANS."

TEXT: INFORMATION MINISTER LUDMILA MILENTIJEVIC BLAMES THE ALBANIANS FOR THE CONFLICT IN KOSOVO AND HOLDS THE INTERNATIONAL COMMUNITY RESPONSIBLE FOR AGGREVATING SERBIA'S ECONOMIC PROBLEMS. TAPE A: CUT FOUR -- MILENTIJEVIC (1:07) "THE ALBANIAN POLITICAL LEADERSHIP HAS TAKEN A POSITION OF NOT RECOGNIZING THE CONSTITUTION OF SERBIA, OF NOT RECOGNIZING THE LEGITIMATE GOVERNMENT OF SERBIA, AND NOT PARTICIPATING IN THE POLITICAL PROCESS. THEY HAVE LEFT THE SCHOOLS, THEY HAVE LEFT THE HOSPITALS, THEY HAVE LEFT ALL THE INSTITUTIONS THAT PROVIDE NECESSARY SERVICES FOR A CITIZEN TO GROW UP AND BE FUNCTIONAL IN THE SOCIETY. TAKE, FOR EXAMPLE, THE ISSUE OF THE SCHOOLS. THEIR EDUCATION LIMITS THEM ONLY TO ONE LANGUAGE, WHICH IS THE ALBANIAN. THEY CANNOT GET EMPLOYMENT BECAUSE THEY'RE NOT LITERATE ENOUGH TO COMMUNICATE WITH OTHER PEOPLE. OF COURSE, THIS UNEMPLOYMENT IS TO AN EXTENT CAUSED BY OTHER CIRCUMSTANCES. SERBIA HAS BEEN UNDER SANCTIONS FOR SEVERAL YEARS, AND THE SANCTIONS OF THE WORLD COMMUNITY HAVE HAD A DEVASTATING EFFECT ON OUR ECONOMY. IT BROUGHT TO A STANDSTILL MANY OF OUR ENTERPRISES THROUGHOUT SERBIA. SO, THE ALBANIANS ARE NOT THE ONLY ONES WHO SUFFER FROM UNEMPLOYMENT."

TEXT: ALBANIANS, WHO REPRESENT 90 PERCENT OF THE POPULATION OF KOSOVO, SAY THEY WITHDREW FROM THE POLITICAL PROCESS AFTER KOSOVO LOST ITS STATUS AS AN "AUTONOMOUS PROVINCE" AND AFTER THEY HAD BEEN SACKED FROM THEIR GOVERNMENT JOBS. SESKA STANOJLOVIC OF THE HELSINSKI COMMITTEE BELIEVES THE GREATEST PROBLEM IN THE REGION IS THE PUSH TOWARD AN "ETHNICALLY PURE STATE," AND WARNS ABOUT A NEW REVIVAL OF SERB NATIONALISM. TAPE B: CUT TWO -- STANOJLOVIC (ESTABLISH FOR 5 SECONDS AND FADE UNDER) TAPE A: CUT FOUR -- ENGLISH TRANSLATION (1:11) "FOR EXAMPLE, THE MERE DISMANTLING OF THE AUTONOMY FOR THE TWO REGIONS OF KOSOVO AND VOJVODINA HAS CREATED A MAJOR PROBLEM HERE BECAUSE THE CONSTITUTION OF 1991, THE CHANGES IN THE CONSTITUTION, DID AWAY WITH THE AUTONOMY FOR KOSOVO SUCH AS WE KNEW IT, ACCORDING TO THE CONSTITUTION OF 1974, AND THE INTRODUCTION OF A STATE OF EMERGENCY IN KOSOVO HAS CREATED ENORMOUS PROBLEMS. IT IS OUR IMPRESSION HERE AT THE HELSINKI COMMITTEE THAT WE ARE NOW WITNESSING A NEW REVIVAL OF SERBIAN NATIONALISM WITHIN THE POLITICAL AND INTELLECTUAL ELITE IN SERBIA. NOW, REGARDLESS OF THE DEFEAT OF THE SERBIAN CONCEPT WHICH LED SERBIA TO WAR, THERE'S A REVIVAL OF SERBIAN NATIONALISM, EXCEPT THAT NOW THIS IS COUCHED IN TERMS OF PATRIOTISM. WE ARE NOW SEEING THAT SOME MINORITY ETHNIC GROUPS ARE UNDERGOING PRESSURES, MAYBE HARSHER THAN ANYTHING WE'VE SEE OVER THE LAST COUPLE OF YEARS. THERE IS A NEW WAVE OF REPRESSION TOWARD ETHNIC MINORITIES."

TEXT: MS. STANOJLOVIC OF THE HELSINKI COMMITTEE POINTS TO THE RECENT STRONG SHOWING OF THE SERBIAN RADICAL PARTY, LED BY VOJISLAV SESELJ [VOY-I-SLAHV SHES-SHEL], THE MAYOR OF ZEMUN [ZAY-MUN], A SUBURB OF BELGRADE. SHE SAYS IN ZEMUN THERE ARE "DIRECT THREATS TO CITIZENS OF NON-SERB ORIGIN." [OPT] IN SUBSEQUENT FEATURE PROGRAMS IN THIS SERIES ON CONFLICT RESOLUTION, WE WILL EXAMINE THE SITUATION OF THE LARGER MINORITY GROUPS IN SERBIA. [END OPT]
22-Oct-97 2:49 PM EDT (1849 UTC)
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Source: Voice of America

[04] EDITORIAL: NATO: ANCHOR OF STABILITY

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:

NATO CONTINUES TO BE AN ANCHOR OF STABILITY IN AN ERA OF CHANGE. TO ADAPT TO THE NEW STRATEGIC LANDSCAPE IN EUROPE, NATO HAS INVITED THE CZECH REPUBLIC, HUNGARY AND POLAND TO JOIN THE ALLIANCE. THE DOOR WILL BE LEFT OPEN FOR OTHER COUNTRIES TO JOIN THE ALLIANCE AS THEY QUALIFY.

NATO SECURITY GUARANTEES MAKE THE USE OF FORCE IN EUROPE LESS LIKELY. IT IS NO ACCIDENT THAT AMERICAN FORCES HAVE NEVER HAD TO FIRE A SHOT TO DEFEND A NATO ALLY. ENLARGING NATO WILL EXTEND ITS STABILIZING PRESENCE. MOREOVER, THE POSSIBILITY OF JOINING NATO HAS MOTIVATED NATIONS IN THE REGION TO SETTLE OLD DISPUTES, RECOGNIZE MINORITY RIGHTS, AND STRENGTHEN DEMOCRATIC REFORMS. THIS, TOO, BODES WELL FOR EUROPE AND AMERICA'S FUTURE.

CRITICS OF NATO ENLARGEMENT FEAR THAT EXPANDING THE ALLIANCE WILL CREATE A NEW DIVISION IN EUROPE. SO FAR, THE OPPOSITE HAS BEEN TRUE. NATIONS THAT ASPIRE TO JOIN NATO ARE WORKING HARDER TO IMPROVE RELATIONS WITH THEIR NEIGHBORS.

ANOTHER UNREALIZED FEAR HAS BEEN THAT EXPANDING THE ALLIANCE WOULD POISON TIES WITH RUSSIA. U.S. RELATIONS WITH MOSCOW ARE HEALTHY, BUT NOT BECAUSE THE TWO COUNTRIES AGREE ON NATO ENLARGEMENT. PRESIDENT BORIS YELTSIN HAS PURSUED REFORMS AT HOME, ENDED THE WAR IN CHECHNYA, AND JOINED IN CREATING A PARTNERSHIP BETWEEN THE NEW RUSSIA AND THE NEW NATO.

AS SECRETARY OF STATE MADELEINE ALBRIGHT SAID, NATO IS AN ESSENTIAL ELEMENT IN BRINGING EUROPE AND AMERICA CLOSER TOGETHER AROUND THE BASIC PRINCIPLES OF DEMOCRACY, FREE MARKETS, RESPECT FOR THE RULE OF LAW, AND PEACE.

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.
22-Oct-97 2:21 PM EDT (1821 UTC)
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Source: Voice of America

[05] EURO STOCKS (S-O) BY PAUL FRANCUCH (LONDON)

INTRO: THE MAJOR STOCK MARKETS OF WESTERN EUROPE ENDED ON A MOSTLY LOWER NOTE WEDNESDAY. PAUL FRANCUCH HAS THE CLOSING NUMBERS FROM OUR OFFICES IN LONDON.

TEXT: PREVIOUS-DAY DECLINES ON WALL STREET AND EARLY-DAY SELLING IN HONG KONG HELPED PUT EUROPEAN INVESTORS IN A NEGATIVE MOOD.

MARKET ANALYSTS SAY CONTINUED UNCERTAINTY OVER BRITAIN JOINING THE SINGLE EUROPEAN CURRENCY CONTRIBUTED TO THE "FINANCIAL TIMES" 100 INDEX DROPPING 77-POINTS. SOME TRADERS BOOED BRITISH PRIME MINISTER TONY BLAIR OVER THE ISSUE WHEN HE ESCORTED GUESTS ONTO A LONDON TRADING FLOOR WEDNESDAY. ELSEWHERE, THE GERMAN "DAX 30" INDEX CLOSE UP 32-POINTS, BUT COMPUTER TRADING ON THE DAX LATER IN THE DAY SAW THAT MARKET LOSE VALUE. THE PARIS "CAC 40" STOCK INDEX ALSO CLOSED IN NEGATIVE TERRITORY, DOWN 32-POINTS.

THE U-S DOLLAR WAS UP SLIGHTLY AGAINST BOTH THE GERMAN MARK AND BRITISH POUND.

LONDON GOLD PRICES ENDED THE DAY AT 322-DOLLARS-50 CENTS AN OUNCE, DOWN A HALF-DOLLAR FROM TUESDAY. (SIGNED)
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22-Oct-97 2:02 PM EDT (1802 UTC)
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Source: Voice of America

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

INTRO: A MAJOR MOVE BY THE JUSTICE DEPARTMENT AGAINST THE HUGE COMPUTER SOFTWARE COMPANY MICROSOFT IS DRAWING A GOOD DEAL OF COMMENT IN THE EDITORIAL COLUMNS OF WEDNESDAY'S PAPERS. OTHER TOPICS UNDER DISCUSSION INCLUDE: THE FOOD AID SITUATION IN NORTH KOREA; THE HUGE GIFT TO RUSSIA BY A HUNGARIAN-AMERICAN MILLIONAIRE; THE CRISIS IN IRAQ; AND THE VISIT OF ORTHODOX CHURCH LEADER BARTHOLOMEW THE FIRST TO THIS COUNTRY [OPT;] AND FINALLY; ISRAEL DECIDES TO EXTRADITE A SUSPECTED TEENAGE KILLER BACK TO MARYLAND. [END OPT]

NOW, HERE WITH A QUOTE OR TWO AND A CLOSER LOOK AT SOME OF THESE COMMENTARIES IS ____________________ AND TODAY'S EDITORIAL DIGEST.

TEXT: THE JUSTICE DEPARTMENT ATTACKED GIANT COMPUTER SOFTWARE MAKER MICROSOFT THIS WEEK, DEMANDING THE COMPANY STOP FORCING PERSONAL COMPUTER MAKERS TO INSTALL ITS INTERNET BROWSER (VIEWING) SOFTWARE CALLED "INTERNET EXPLORER" IN THEIR COMPUTERS. THE GOVERNMENT SAYS MICROSOFT FORCES MANUFACTURERS TO INSTALL ITS PRODUCT BY REFUSING TO ALLOW THEM TO USE ITS UBIQUITOUS WINDOWS '95 SOFTWARE -- WHICH NOW RUNS MOST PERSONAL COMPUTERS -- IF THEY WON'T ALSO TAKE INTERNET EXPLORER.

THE GOVERNMENT SAYS MICROSOFT IS TRYING TO SQUEEZE ALL OTHER MAKERS OF INTERNET ACCESSIBILITY SOFTWARE [OPT] (SUCH AS THE POPULAR NETSCAPE) [END OPT] OUT OF BUSINESS, AND WANTS A COURT TO FINE THE HUGE FIRM ONE-MILLION DOLLARS A DAY FOR VIOLATING AN EARLIER AGREEMENT NOT TO MONOPOLIZE THE INDUSTRY. MICROSOFT DENIES THE CHARGE, AND THE PAPERS ARE FULL OF COMMENT ON THE FIGHT. MAINE'S PORTLAND PRESS HERALD FEELS THE GOVERNMENT SHOULD TAKE GREATER STEPS TO FOSTER COMPETITION IN THE COMPUTER INDUSTRY.

VOICE: "IF MICROSOFT HOLDS A MONOPOLY ON COMPUTER OPERATING SOFTWARE AS [ATTORNEY GENERAL JANET] RENO SUGGESTS, ISN'T IT TIME FOR THE GOVERNMENT, FOR CONGRESS IF NECESSARY, TO BRING REAL COMPETITION TO THE COMPUTER INDUSTRY? THROUGH SHREWD MANAGEMENT THAT INCLUDED TAKING ADVANTAGE OF THE MISTAKES OF ITS RIVALS, MICROSOFT HAS BECOME MUCH MORE THAN THE DOMINANT PLAYER IN THE PERSONAL COMPUTER INDUSTRY. IT *IS* [ITALICS FOR EMPHASIS] THE PERSONAL COMPUTER INDUSTRY. ..... THE GOVERNMENT SHOULD END MICROSOFT'S MONOPOLY OVER OPERATING SOFTWARE AND OPEN THE COMPUTING WORLD TO GREATER INNOVATION."

TEXT: THE LOS ANGELES TIMES TAKES A VERY DIFFERENT VIEW -- THAT MICROSOFT'S POWER IS NOT ALL BAD FOR THE COUNTRY.

VOICE: "[ATTORNEY GENERAL] RENO'S CHIEF ALLEGATION IS SOLID .....[HOWEVER] IT IS UNLIKELY THAT THE JUSTICE DEPARTMENT CAN DO MUCH TO KEEP [MICROSOFT PRESIDENT BILL] GATES FROM REALIZING HIS BOLDEST AMBITION -- MAKING WINDOWS THE TOOL MOST CONSUMERS USE TO WATCH TV, MAKE PHONE CALLS AND USE COMPUTERS. THAT'S NOT THE JOB OF [THE] JUSTICE [DEPARTMENT]. ON THE CONTRARY, A THRIVING MICROSOFT IS AN ASSET TO A THRIVING AMERICA, AND [MR.] GATES CANNOT BE BLAMED FOR CREATIVELY SEEKING WAYS TO INCREASE HIS SALES AND KEEP MICROSOFT'S HIGHLY PRICED STOCKS FROM LOSING VALUE."

TEXT: TURNING TO INTERNATIONAL ISSUES, THE LOS ANGELES TIMES IS ALSO HOPEFUL THAT A SLIGHT CONCESSION IN MONITORING FOOD AID TO NORTH KOREA PRESAGES A CHANGE IN THAT NATION'S OVERALL ATTITUDE. PYONGYANG IS ALLOWING IN 17 ADDITIONAL INTERNATIONAL AND U-S MONITORS TO WATCH THE RELIEF EFFORT.

VOICE: "[OPT] THE STATE DEPARTMENT CONFIRMS THAT SEVERAL CANS OF DONATED AMERICAN FOOD WERE FOUND ABOARD A NORTH KOREAN SUBMARINE THAT RAN AGROUND OFF SOUTH KOREA LAST FALL, ADDING CREDIBILITY TO SUSPICIONS THAT AT LEAST SOME RELIEF SUPPLIES MEANT FOR FAMINE-STRICKEN CIVILIANS HAVE GONE INSTEAD TO THE MILITARY. THAT MAKES EXPANSION OF INTERNATIONAL MONITORING OF FAMINE AID EVEN MORE ESSENTIAL, TO TRY TO ASSURE THAT FOOD REACHES THOSE MOST DESPERATELY IN NEED RATHER THAN THE RELATIVELY WELL-CARED-FOR MILITARY. AWARE THAT FURTHER AID COULD BE CONTINGENT ON ALLAYING DONORS' DOUBTS, PYONGYANG SAYS IT WILL LET 10 MORE RELIEF MONITORS JOIN THE SEVEN ALREADY IN THE COUNTRY. MOREOVER, IN AN UNPRECEDENTED STEP, IT WILL SOON ADMIT A SEVEN MEMBER TEAM OF U-S EXPERTS TO ASSESS HOW FOOD IS BEING DISTRIBUTED. [END OPT] HOW FREELY THESE OBSERVERS ARE ABLE TO MOVE ABOUT COULD PROVIDE AN IMPORTANT CLUE TO HOW SERIOUS NORTH KOREA MIGHT BE IN WANTING BETTER RELATIONS WITH THE WORLD OUTSIDE."

TEXT: THE NEW YORK TIMES HAS SOME WORDS OF CONGRATULATIONS FOR HUNGARIAN-BORN U-S MULTIMILLIONAIRE GEORGE SOROS, WHO HAS PLEDGED HALF A BILLION DOLLARS TO UPGRADE SOCIAL SERVICES IN RUSSIA, FAR EXCEEDING THE 95-MILLION DOLLARS IN CIVILIAN AID THE U-S GOVERNMENT SENDS ANNUALLY.

VOICE: "THE CONTRIBUTION ADDS TO THE ONE-POINT-FIVE BILLION MR. SOROS HAS ALREADY GIVEN AWAY OVERSEAS, THE BULK OF IT TO BUILD CIVIL SOCIETY AND INDEPENDENT MEDIA IN FORMERLY COMMUNIST COUNTRIES. SOME AMERICANS MAY QUARREL WITH MR. SOROS AND MR. [TED] TURNER [PRESIDENT OF CNN CABLE NEWS NETWORK, WHO RECENTLY PLEDGED ONE BILLION DOLLARS TO THE UNITED NATIONS] FOR SPENDING SO LAVISHLY ON FOREIGN CAUSES WHEN PROBLEMS IN AMERICA GO UNTENDED. .... [HOWEVER] THE WORK THAT HE AND MR. TURNER SUPPORT ABROAD MAY HELP PREVENT POLITICAL UPHEAVALS IN RUSSIA AND OTHER COUNTRIES THAT COULD COST AMERICANS DEARLY IN THE YEARS AHEAD."

TEXT: THE WASHINGTON POST LOOKS TOWARD IRAQ, AND WORRIES OVER A PAIR OF CRISIS ITS SEES DEVELOPING THERE, ONE THE OBVIOUS THREAT OF SADDAM HUSSEIN REFUSING TO ALLOW U-N ARMS INSPECTORS FREE ACCESS. BUT THE OTHER, SAYS THE POST, IS EQUALLY IMPORTANT.

VOICE: "THE SECOND QUIETER AND BARELY NOTICED CRISIS IN IRAQ .... [INVOLVES] THE IMMENSE SUFFERING OF THE IRAQI PEOPLE AS A RESULT NOT SIMPLY OF THE WAR BUT OF THE INTERNATIONAL ECONOMIC SANCTIONS THAT HAVE BEEN IN PLACE AGAINST THE REGIME IN THE NEARLY SEVEN YEARS SINCE. THE CONSEQUENCES ARE WELL ATTESTED TO AND INCLUDE AN ANNUAL EXTRA-DEATH TOLL OF PERHAPS A MILLION PEOPLE, 60 PERCENT OF THEM CHILDREN, AND THE STILL UNREPAIRED DESOLATION OF THE PUBLIC HEALTH INFRASTRUCTURE BOMBED OUT IN THE WAR."

TEXT: TODAY'S "SUN" IN BALTIMORE IS HERALDING THE VISIT OF THE SPIRITUAL LEADER OF 300 MILLION ORTHODOX CHRISTIANS, PATRIARCH BARTHOLOMEW THE FIRST, WHO IS TOURING THE UNITED STATES FOR A MONTH.

VOICE: "HE WILL BE VISITING ORTHODOX COMMUNITIES ACROSS THE COUNTRY, TAKING THE OPPORTUNITY TO HIGHLIGHT HIS WELL-KNOWN CONCERN FOR THE SPIRITUAL ASPECTS OF ENVIRONMENTAL ISSUES. [OPT] ....ORTHODOXY AND CATHOLICISM, THE MAJOR BRANCHES OF EASTERN AND WESTERN CHRISTIANITY, WENT THEIR SEPARATE WAYS MORE THAN 900 YEARS AGO ..... [BUT] AS THE CENTURY DRAWS TO A CLOSE, ORTHODOX AND CATHOLIC CHRISTIANS CAN POINT ALMOST AS READILY TO THE THINGS THAT DRAW THEM TOGETHER AS TO THE DIFFERENCES THAT DISTINGUISH THEIR FAITH AND GOVERNANCE. [END OPT] .... HIS PRESENCE IN THIS COUNTRY WILL HELP TO HIGHLIGHT THE MAJESTY OF THE ORTHODOX TRADITION DURING A TIME WHEN MANY AMERICANS ARE SPIRITUALLY HUNGRY."

TEXT: AND FINALLY, THE CASE OF THAT 17-YEAR-OLD SUSPECT WANTED IN THE MURDER OF A TEENAGER IN SUBURBAN WASHINGTON, WHO FLED TO ISRAEL AND TRIED TO CLAIM CITIZENSHIP THERE TO AVOID EXTRADITION. WEDNESDAY'S ATLANTA CONSTITUTION SAYS:

VOICE: "THIS CASE HAS PUT THE ISRAELI GOVERNMENT IN A FIX [AN EMBARRASSING POSITION] IT DIDN'T DESERVE. IT IS OBLIGED TO ABIDE BY ISRAELI LAW, EVEN THOUGH IN THIS CASE THOSE LAWS ARE BEING USED IN WAYS THAT WERE NEVER INTENDED. BUT THE ISRAELI GOVERNMENT ALSO SEEMS SYMPATHETIC TO DEMANDS FROM THE CLINTON ADMINISTRATION, CONGRESS AND AMERICAN JEWISH GROUPS THAT [SAMUEL] SHEINBEIN BE EXTRADITED. ... [HOWEVER] IF [MR.] SHEINBEIN HAD BEEN A YEAR OLDER, AND THUS SUBJECT TO THE DEATH PENALTY UNDER MARYLAND LAW, ISRAEL WOULD HAVE REFUSED TO SEND HIM BACK TO THE UNITED STATES NO MATTER WHAT HIS CITIZENSHIP. ISRAEL ..... CONSIDERS THE DEATH PENALTY A VIOLATION OF HUMAN RIGHTS."

TEXT: WITH THAT, WE CONCLUDE THIS BRIEF SAMPLING OF SOME OF THE TOPICS TO BE FOUND IN TODAY'S U-S PRESS EDITORIAL COLUMNS.
NEB/ANG
22-Oct-97 11:13 AM EDT (1513 UTC)
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Source: Voice of America

[07] N-Y / ECON WRAP (S & L) BY MAX RUSTON (NEW YORK)

INTRO: STOCK PRICES IN THE UNITED STATES FELL TODAY (WEDNESDAY) AMID PROFIT TAKING AND POOR CORPORATE EARNINGS REPORTS. V-O-A'S MAX RUSTON IN NEW YORK HAS TODAY'S ROUNDUP OF FINANCIAL NEWS.

TEXT: THE DOW JONES INDUSTRIAL AVERAGE REMAINED DOWN THROUGHOUT THE DAY. IT FELL BRIEFLY BELOW EIGHT THOUSAND, CLOSING AT EIGHT THOUSAND 35 -- A DROP OF 26 POINTS. THE STANDARD AND POOR'S 500 INDEX FELL FOUR POINTS TO CLOSE AT 968.

A WARNING ON EARNINGS FROM THE WORLD'S LARGEST AIRCRAFT MANUFACTURER, BOEING, HELPED PULL THE DOW JONES INDUSTRIAL AVERAGE DOWN. BOEING WARNED OF SIGNIFICANT THIRD QUARTER LOSSES DUE TO A SHORTAGE OF RAW MATERIALS AS IT TRIES TO KEEP UP WITH A BOOM IN ORDERS. BOEING IS SCHEDULED TO RELEASE ITS QUARTERLY EARNINGS REPORT LATER THIS WEEK.

ANALYSTS SAY PROFIT TAKING, PARTICULARLY AMONG BIG FINANCIAL COMPANIES AND HIGH TECHNOLOGY STOCKS, FOLLOWING TUESDAY'S 139 POINT GAIN ALSO CONTRIBUTED TO THE MODERATE DROP.

OTHER COMPANIES WHICH RELEASED CORPORATE EARNINGS REPORTS INCLUDE THE CHEMICAL GIANT DUPONT, THE CONSUMER PRODUCTS COMPANY PROCTER AND GAMBLE AND INTERNET BROWSER MAKER NETSCAPE.

DUPONT REPORTED A THIRD QUARTER LOSS, MAINLY DUE TO ONE-TIME ACQUISITION AND DIVESTITURE CHARGES. ITS CORE PETROLEUM, CHEMICALS AND FIBERS SEGMENTS ALL REGISTERED DOUBLE DIGIT GROWTH.

PROCTER AND GAMBLE REPORTED STRONG GROWTH IN THE UNITED STATES AND EUROPE. BUT ITS PROFITS IN ASIA WERE OFFSET BY WEAKER CURRENCIES IN THAT REGION.

SHARES OF NETSCAPE COMMUNICATIONS CORPORATION WERE DOWN DESPITE EARNINGS THAT BEAT WALL STREET EXPECTATIONS. THE COMPANY REPORTED GROWTH IN INTERNETS, EXTRANETS AND THE INTERNET, BUT CONTINUES TO FACE STRONG COMPETITION FROM MICROSOFT WITH ITS RIVAL BROWSER, "EXPLORER."

AND ONE OF THE MOST HEAVILY TRADED COMPANIES ON THE NEW YORK STOCK EXCHANGE WAS CHINA TELECOM -- WHICH MADE ITS DEBUT WITH AN INITIAL PUBLIC OFFERING. SHARES IN CHINA TELECOM DROPPED QUICKLY IN RESPONSE TO THE RECORD FALL THIS WEEK OF CHINA-RELATED STOCKS ON THE HONG KONG STOCK MARKET. (SIGNED) NEB/NY/MPR/LSF/PT
22-Oct-97 4:44 PM EDT (2044 UTC)
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Source: Voice of America

[08] ROMANIA MONEY (L-ONLY) BY BARRY WOOD (WASHINGTON)

INTRO: PROSPECTS ARE GOOD THAT ROMANIA COULD SOON WIN APPROVAL OF THE INTERNATIONAL MONETARY FUND FOR A LONGER TERM LOAN TO ASSIST IN THE CENTER-RIGHT GOVERNMENT'S PLAN TO STRENGTHEN MARKET BASED REFORM. V-O-A'S BARRY WOOD REPORTS AN I-M-F MISSION IS CURRENTLY IN BUCHAREST.

TEXT: ROMANIA'S PRIME MINISTER CICTOR CIORBEA SAYS HE IS SEEKING A THREE YEAR I-M-F LOAN TO REPLACE THE SMALLER 13 MONTH CREDIT THAT EXPIRES NEXT APRIL. AN I-M-F MISSION HEADED BY POUL THOMSEN IS IN ROMANIA TO MONITOR COMPLIANCE WITH THE CURRENT LOAN WHICH IS PROVIDING CRITICAL SUPPORT TO MR. CIORBEA'S GOVERNMENT. MR. THOMSEN HAS SAID THAT ROMANIA'S REFORMS HAVE EXCEEDED EXPECTATIONS IN BRINGING DOWN INFLATION AND REDUCING THE BUDGET DEFICIT.

THE FUND MISSION IS REVIEWING NEXT YEAR'S ROMANIAN GOVERNMENT BUDGET AS WELL AS PROGRESS IN PRIVATIZING STATE ENTERPRISES. THE GOVERNMENT HAS PROMISED TO RESTRUCTURE OR SHUT 16 BIG STATE ENTERPRISES.

LATEST FIGURES SHOW THAT MONTHLY INFLATION HAS BEEN BROUGHT DOWN TO THREE PERCENT BUT THAT INDUSTRIAL PRODUCTION CONTINUES TO FALL. JAN VANOUS, WHO HEADS THE PLANECON RESEARCH AGENCY HERE IN WASHINGTON, SAYS ROMANIA HAS MADE A DECISIVE TURN IN THE DIRECTION OF THE MARKET SINCE THE ANTI-COMMUNIST CIORBEA GOVERNMENT TOOK POWER AT THE END OF LAST YEAR.

I THINK ROMANIA HAS MADE A DECISIVE TURN AND THERE IS A STRONG CONSENSUS THAT THEY HAVE TO BECOME A MARKET ECONOMY AND SUFFER SOME OF THE PAINFUL CONSEQUENCES OF THE TRANSITION.

LONG A SICK ECONOMY, ROMANIA AS WELL AS NEIGHBORING BULGARIA HAVE THIS YEAR BECOME THE TURNAROUND SUCCESS STORIES OF THE BALKAN REGION. IN BOTH COUNTRIES THE I-M-F AND WORLD BANK HAVE BEEN PROVIDING LARGE AMOUNTS OF ASSISTANCE, WHICH IN TURN HAS UNLOCKED FURTHER FLOWS OF AID FROM WESTERN GOVERNMENTS AND MULTI-LATERAL LENDERS. (SIGNED)
NEB/BDW/PT
22-Oct-97 4:38 PM EDT (2038 UTC)
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Source: Voice of America

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