Voice of America, 97-11-20

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

CONTENTS

[01] CYPRUS-HOLBROOKE (LONG) BY AL PESSIN (NICOSIA)

[02] CZECH NATO (L-ONLY) BY BARRY WOOD (WASHINGTON)

[03] EURO FRANCE (L-ONLY) BY JULIAN NUNDY (PARIS)

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

[05] MONDAY'S EDITORIALS BY ANDREW N. GUTHRIE (WASHINGTON)

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

[07] YUGO REFUGEES BY ART CHIMES (NEAR NIS, YUGOSLAVIA)

[01] CYPRUS-HOLBROOKE (LONG) BY AL PESSIN (NICOSIA)

INTRO: PRESIDENT CLINTON'S SPECIAL ENVOY FOR CYPRUS, RICHARD HOLBROOKE, SAYS HE DOES NOT EXPECT ANY BREAKTHROUGH DURING HIS FIRST VISIT TO CYPRUS IN THIS CAPACITY, WHICH BEGAN MONDAY NIGHT. BUT HE SAYS HE BELIEVES THE TIME IS RIGHT TO TRY TO HELP THE ISLAND'S GREEK AND TURKISH COMMUNITIES BEGIN TO SETTLE THEIR LONGSTANDING DIFFERENCES. V-O-A'S AL PESSIN REPORTS FROM NICOSIA.

TEXT: UPON ARRIVAL, MR. HOLBROOKE SERVED NOTICE THAT HE WILL NOT BE DISCUSSING THE SUBSTANCE OF HIS TALKS WITH THE GREEK- AND TURKISH-CYPRIOT LEADERS, AND THAT HE DOES NOT EXPECT INSTANT RESULTS.

I DO NOT EXPECT ANY BREAKTHROUGHS WHILE WE'RE HERE. I'M NOT TRYING FOR ANY BIG DEAL ON THIS TRIP. BUT I TELL YOU AGAIN, IN ORDER FOR CONFIDENTIAL DISCUSSIONS TO SUCCEED, THEY MUST BE CONFIDENTIAL.

AMBASSADOR HOLBROOKE SAYS THE JOINT MEETING HE WILL HOST TUESDAY WITH CYPRIOT PRESIDENT GLAFKOS CLERIDES, LEADER OF THE GREEK COMMUNITY, AND THE NORTHERN CYPRUS PRESIDENT RAUF DENKTASH, LEADER OF THE TURKISH COMMUNITY, DEMONSTRATES THAT THE TWO LEADERS ARE WILLING TO CONTINUE WORKING TO SOLVE THE ISLAND'S LONGSTANDING, DIFFICULT AND PAINFUL PROBLEMS. HE SAYS HIS VISIT ALSO DEMONSTRATES THE U-S COMMITMENT TO TRY TO HELP FORGE A SETTLEMENT.

THE REASON I'M HERE NOW IS THAT ON THE BASIS OF FIVE MEETINGS WITH RAUF DENKTASH IN WASHINGTON AND NEW YORK, AND THREE PHONE CALLS WITH PRESIDENT CLERIDES, WE CONCLUDED THAT A TRIP HERE AT THIS TIME WOULD BE USEFUL.

THE ETHNIC-GREEK AND TURKISH COMMUNITIES ON CYPRUS HAVE BEEN AT ODDS FOR DECADES. THE ISLAND WAS SPLIT IN 1974 WHEN TURKEY INVADED IN RESPONSE TO A GREEK-BACKED COUP. THE TWO SIDES AGREED YEARS AGO TO REUNIFY BASED ON A CONCEPT CALLED A "BI-ZONAL BI-COMMUNAL" FEDERATION, BUT THEY HAVE NEVER BEEN ABLE TO AGREE ON JUST HOW TO IMPLEMENT THAT IDEA.

IN A NEW TWIST, MR. DENKTASH APPEARS TO BE INSISTING ON RECOGNITION OF HIS NORTH CYPRUS GOVERNMENT AS A PRE-REQUISITE FOR HIS AGREEMENT TO JOIN SUCH A FEDERATION. ALL THE COUNTRIES IN THE WORLD, EXCEPT TURKEY, HAVE WITHHELD THAT RECOGNITION SINCE 1974.

MANY EFFORTS TO SOLVE THE CYPRUS DISPUTE HAVE FAILED OVER THE DECADES, SEVERAL OF THEM DIRECTLY INVOLVING MR. DENKTASH AND MR. CLERIDES. AND TWO MEETINGS THEY HAVE HAD IN RECENT MONTHS HAVE MADE NO APPARENT PROGRESS. MR. HOLBROOKE WAS ASKED MONDAY NIGHT WHETHER HE BELIEVES THAT NOW THE TWO SIDES HAVE THE POLITICAL WILL TO MOVE FORWARD.

THAT'S WHAT WE'RE HERE TO FIND OUT, BUT AGAIN I CAUTION YOU WE'RE NOT GOING TO HAVE ANY FINAL ANSWERS IN THE NEXT FEW HOURS.

DIPLOMATS SAY THERE ARE PLENTY OF INCENTIVES FOR A SETTLEMENT, INCLUDING ECONOMIC AND SOCIAL BENEFITS ON THE ISLAND, A SMOOTHER PATH TO EUROPEAN UNION MEMBERSHIP FOR BOTH CYPRUS AND TURKEY, AND POSSIBLE CANCELLATION OF THE GREEK-CYPRIOT PURCHASE OF ANTI-AIRCRAFT MISSILES, WHICH TURKEY AND THE TURKISH-CYPRIOTS SEE AS PROVOCATIVE. BUT NO ONE, INCLUDING MR. HOLBROOKE, IS SAYING WHETHER THOSE INCENTIVES AND HIGH-LEVEL U-S MEDIATION WILL BE ENOUGH TO SOLVE THIS DEEP-SEATED DISPUTE WHICH HAS DEFIED SOLUTION FOR DECADES. (SIGNED)
NEB/AWP/MMK
10-Nov-97 3:46 PM EST (2046 UTC)
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Source: Voice of America

[02] CZECH NATO (L-ONLY) BY BARRY WOOD (WASHINGTON)

INTRO: CZECH PRIME MINISTER VACLAV KLAUS HAS BEGUN A SIX-DAY U-S VISIT BY MEETING (MONDAY) WITH SECRETARY OF STATE MADELEINE ALBRIGHT AND DEFENSE SECRETARY WILLIAM COHEN (ED'S: COHEN MEETING OVER LUNCH NOON TO APPROX-3 PM). V-O-A'S BARRY WOOD REPORTS NATO EXPANSION IS THE PRINCIPAL TOPIC OF DISCUSSION.

TEXT: MR. KLAUS IS SEEKING TO DISPELL PERCEPTIONS THE CZECH REPUBLIC IS UNWILLING TO BOOST ITS DEFENSE SPENDING TO THE LEVEL PREVAILING IN MOST NATO COUNTRIES.

HE SAID HE TOLD SECRETARY OF STATE ALBRIGHT HIS GOVERNMENT WILL STEADILY INCREASE ITS DEFENSE BUDGET TO EQUAL TWO-PERCENT OF CZECH GROSS DOMESTIC PRODUCT BY THE YEAR 2000. MR. KLAUS SAID THE CZECH REPUBLIC IS FULLY AWARE ITS DEFENSE BUDGET IS TOO LOW.

WE ARE AWARE OF THE COSTS OF ENLARGEMENT. WE ARE AWARE OF THE COSTS OF OUR ACCESSION TO NATO. AND WE ARE AWARE THAT WE HAVE TO DO IT (SPEND MORE). THAT WE CAN NOT ONLY GET. WE MUST GIVE AS WELL. IT IS IMPOSSIBLE TO BE JUST CONSUMERS OF COLLECTIVE SECURITY, WE KNOW WE MUST BE PRODUCERS OF THAT ASSET AS WELL.

THE CZECH REPUBLIC, POLAND, AND HUNGARY ARE SET TO BE THE FIRST FORMER EAST-BLOC COUNTRIES TO JOIN THE NATO ALLIANCE. MEMBERSHIP NEGOTIATIONS ARE UNDERWAY AND THE U-S SENATE IS LIKELY TO VOTE ON NATO EXPANSION WITHIN SIX MONTHS.

MR. KLAUS SAID HE AGREES WITH MRS. ALBRIGHT THERE MUST BE SOME KIND OF NATO PRESENCE IN BOSNIA AFTER MAY 1998 AND THE CZECH GOVERNMENT IS PREPARED TO KEEP ITS PEACE-KEEPING CONTINGENT IN THE COUNTRY.

MR. KLAUS TOLD REPORTERS HIS CENTER-RIGHT COALITION IS SECURE AND HE DOES NOT EXPECT A PARLIAMENTARY ELECTION BEFORE THE SCHEDULED DATE OF 2000. HE SAID HE PLANS TO LEAD HIS CIVIC DEMOCRATIC PARTY IN THAT ELECTION.

THE LONG SERVING CZECH PRIME MINISTER IS HOLDING SEVERAL PUBLIC EVENTS, INCLUDING THE RELEASE OF A BOOK EXTOLLING HIS CONSERVATIVE ECONOMIC VIEWS. HE LEAVES WASHINGTON WEDNESDAY FOR ARIZONA AND CALIFORNIA. (SIGNED)
NEB/BDW/RAE
10-Nov-97 12:33 PM EST (1733 UTC)
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Source: Voice of America

[03] EURO FRANCE (L-ONLY) BY JULIAN NUNDY (PARIS)

INTRO: AS EUROPE'S POLITICIANS FINE-TUNE THEIR APPROACH IN PREPARATION FOR THE SINGLE CURRENCY, THE "EURO," BANKS ARE HAVING TO ADJUST TO SCENARIOS THAT IN MANY CASES ARE UNPREDICTABLE. IN PARTICULAR, THEY HAVE TO REVAMP THEIR COMPUTER SYSTEMS, AS JULIAN NUNDY REPORTS FROM PARIS.

TEXT: BANKS IN FRANCE SAY THEY HAVE BEEN WORKING CONTINUOUSLY FOR MORE THAN A YEAR TO UPDATE THEIR COMPUTER SYSTEMS AND PREPARE THEIR INFORMATION TECHNOLOGY FOR WHAT THEY CALL -- THE MIGRATION TO THE SINGLE CURRENCY.

AT THE HEADQUARTERS OF THE FRENCH BANK "PARIBAS" IN PARIS, ALAIN DESCHENES, WHO IS IN CHARGE OF COMPUTER SYSTEMS, SAYS HIS STAFF IS CONSTANTLY DISCOVERING NEW PROBLEMS.

WE ARE IN A CONSTANT STATE OF EMERGENCY, IN THE SENSE THAT WHENEVER A QUESTION CROPS UP, WE WANT TO SOLVE IT AS SOON AS POSSIBLE. WE WANT TO TAKE STEPS SO THAT ANY DIFFICULTY THAT ARISES OR ANY DECISION THAT HAS TO BE TAKEN IS ADDRESSED IMMEDIATELY...IS ADDRESSED BY THE RIGHT PEOPLE.

WE CAME UP WITH AN INITIAL EVALUATION THAT THE MOVE TO (THE) EURO WOULD COST (REQUIRE) SOMEWHERE AROUND 200 MAN-YEARS OF EFFORT. THIS IS QUITE SIGNIFICANT.

MR. DESCHENES EXPLAINS MANY BANKS' COMPUTER SYSTEMS COMMUNICATE WITH EACH OTHER, SPANNING A WHOLE RANGE OF FINANCIAL INSTITUTIONS. A FAULT IN ANY OF THE SYSTEMS COULD CAUSE MAJOR PROBLEMS.

WITH THIS IN MIND, HE HAS DRAWN UP A PLAN TO HAVE HIS SYSTEMS READY BY NEXT JUNE -- SIX MONTHS BEFORE THE EURO WILL BE IN USE FOR COMMERCIAL TRANSACTIONS, AND TWO-AND-ONE-HALF YEARS BEFORE IT COMES INTO FULL USE AS A CIRCULATING CURRENCY.

WHAT WE WANT TO DO IS TO HAVE ALL OUR SYSTEMS "EURO-READY," IF YOU WILL, FOR JUNE 1998. WHY JUNE OF 1998? BECAUSE IN THE FINANCIAL INSTITUTIONS, A LOT OF THESE SYSTEMS ARE COMMUNICATING WITH ONE ANOTHER. TO TEST FOR EURO, TO BE READY TO MOVE TO EURO AND REALLY HAVE QUALITY AND A REALLY TESTED QUALITY ASSURANCE PROCESS DONE, WE BELIEVE THAT A SIX-MONTH PERIOD TO TEST EVERYTHING -- AND ALSO AS A BUFFER IN CASE ANYTHING SLIPS -- IS FUNDAMENTAL.

FOR THE COMPUTER STAFF THERE IS NO QUESTION OF WAITING, AND THEY ARE MAKING CHANGES FOR SITUATIONS THEY CAN NOT YET EVALUATE FULLY.

OUR PHILOSOPHY IS -- WE CAN NOT SAY, WE DO NOT KNOW. WE BASICALLY TAKE THE MOST LIKELY OUTCOME, IF YOU WILL, AND TAKE THE BEST EDUCATED GUESS AND PLAN ACCORDINGLY. BUT IN MANY AREAS WE STILL LACK A LOT OF INFORMATION THAT WOULD HELP US MAKE PRECISE DECISIONS.

WORKING WITH SOFTWARE CONSULTANTS AND KEEPING AN EYE ON MOVES BEING MADE BY OTHER BANKS, MR. DESCHENES REMAINS CAUTIOUS.

OF COURSE, ANY PLANNING NEEDS TO TAKE INTO ACCOUNT BAD NEWS. WE WILL HAVE TRIED THIS OUT, WE WILL ASSUME THAT THIS IS GOING TO GO WELL, BUT WE NEED TO HAVE A MARGIN OF MANEUVER BECAUSE, VERY CLEARLY, IF SOMETHING CAN GO WRONG, IT PROBABLY WILL.

AS MR. DESCHENES AND MANY OTHER MANAGERS OF FRENCH BANKS WORRY ABOUT THE PRACTICAL CONSEQUENCES OF THE INTRODUCTION OF THE EURO, THE FRENCH GOVERNMENT HAS ALREADY ORDERED THE FACTORY THAT MINTS FRENCH COINS NEAR BORDEAUX TO STOP PRODUCING THE FRENCH FRANC. FROM NEXT MARCH, THE FACTORY WILL BE MAKING THE EURO...AND NOTHING BUT THE EURO. (SIGNED)
NEB/JWN/PCF/RAE
10-Nov-97 12:52 PM EST (1752 UTC)
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Source: Voice of America

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

INTRO: STOCK PRICES ROSE IN TRADING MONDAY ON EUROPEAN MARKETS. V-O-A'S JACK HUIZENGA HAS THE CLOSING MARKET REPORT FROM LONDON.

TEXT: EUROPEAN MARKETS CLOSED HIGHER MONDAY. BUT TRADING VOLUME REMAINED LOW. ANALYSTS SAY MANY INVESTORS REMAIN ON THE SIDELINES, CONCERNED ABOUT VOLATILITY IN ASIAN MARKETS.

IN FRANKFURT, THE DAX-30 INDEX ROSE ALMOST 53 POINTS, ALMOST ONE-AND-ONE-HALF PERCENT OF THE GERMAN MARKET'S TOTAL VALUE. IN LONDON, THE FOOTSIE-100 INDEX ROSE MORE THAN 42 POINTS, ALMOST NINE-TENTHS PERCENT.

THE PARIS MARKET WAS CLOSED -- PART OF A LONG WEEKEND IN CONNECTION WITH THE ARMISTICE DAY HOLIDAY ON TUESDAY.

ON THE LONDON CURRENCY EXCHANGE, THE U-S DOLLAR GAINED IN VALUE AGAINST THE BRITISH POUND, BUT WAS DOWN A LITTLE AGAINST THE GERMAN MARK AND THE JAPANESE YEN. NEB/JWH/RAE.
10-Nov-97 1:39 PM EST (1839 UTC)
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Source: Voice of America

[05] MONDAY'S EDITORIALS BY ANDREW N. GUTHRIE (WASHINGTON)

INTRO: A WIDE RANGE OF TOPICS IS UNDER DISCUSSION IN THE EDITORIAL COLUMNS OF U-S NEWSPAPERS AS WE BEGIN THE SECOND FULL WEEK OF NOVEMBER. THE EFFORTS TO REVIVE THE MIDDLE EAST PEACE PROCESS IS ONE POPULAR TOPICS, AND OTHER INCLUDE: THE STAND-OFF WITH IRAQI LEADER SADDAM HUSSEIN; SOME NEW NIXON TAPES THAT SHED LIGHT ON HIS PRESIDENCY; CAMPAIGN FINANCE REFORM; CHINA'S THREE GORGES DAM AND ONE CHILD POLICY; AND OVERHAULING THE I-R-S.

NOW, HERE WITH A CLOSER LOOK AND SOME QUOTES IS _____________ AND TODAY'S EDITORIAL DIGEST.

TEXT: SECRETARY OF STATE MADELEINE ALBRIGHT IS HARD AT WORK AGAIN, TRYING TO RESTART THE FLAGGING MIDDLE EAST PEACE PROCESS BETWEEN ISRAEL AND THE PALESTINIANS, AND "NEWSDAY," ON LONG ISLAND, SAYS OF THE EFFORT:

VOICE: "AT LEAST THEY'RE STILL TALKING. AT THIS POINT THAT MAY BE THE BEST THAT CAN BE SAID ABOUT THE CONTINUING EFFORTS BY AMERICAN, ISRAELI AND PALESTINIAN LEADERS TO RESTART THE .... PROCESS. BUT EVEN THAT IS A FORM OF PROGRESS. .... MORE SIGNIFICANT IS SECRETARY OF STATE ... ALBRIGHT'S DECISION TO MEET SEPARATELY WITH ISRAELI PRIME MINISTER BENJAMIN NETANYAHU AND PALESTINIAN LEADER YASSER ARAFAT. A STEADY PUSH FROM THE TOP IS USEFUL TO BOOST THE MOMENTUM TOWARD NEW PEACE NEGOTIATIONS. [OPT] ..... NOW IT'S UP TO [MR.] NETANYAHU AND [MR.] ARAFAT TO MATCH [MS.] ALBRIGHT'S WILLINGNESS TO BACK DOWN FROM HER STIFF, POX-ON-BOTH-YOUR-HOUSES STANCE. THEY MUST SHOW A SIMILAR DEGREE OF FLEXIBILITY AND -- EVEN MORE IMPORTANT -- TAKE THE INITIATIVE IN MAKING GESTURES TO ASSUAGE THE WORST OF EACH OTHER'S FEARS." [END OPT]

TEXT: "THE WASHINGTON POST" IS MORE PESSIMISTIC, NOTING:

VOICE: "THE MINISTER-LEVEL TALKS IN WASHINGTON THAT SECRETARY OF STATE ... ALBRIGHT HOPED WOULD REVIVE ISRAELI-PALESTINIAN PEACE PROSPECTS SEEM TO HAVE GONE NOWHERE. SHE'S ABOUT TO TRY AGAIN AT THE SUMMIT LEVEL. BUT BARRING AN UNEXPECTED BREAKTHROUGH, AMERICAN DIPLOMACY IN THE MIDDLE EAST IS RUNNING DRY. ..... ONLY A STRATEGY THAT OFFERS EACH SIDE A CHANCE TO ATTAIN ITS PRIME GOAL CAN GIVE THAT SIDE THE INCENTIVE TO SATISFY THE GOAL OF THE OTHER."

TEXT: TURNING TO THE CONFRONTATION OVER U-N WEAPONS INSPECTION TEAMS WITH SADDAM HUSSEIN, "THE WASHINGTON TIMES" WANTS THE CLINTON ADMINISTRATION TO MORE CLEARLY STATE ITS CASE AGAINST IRAQ.

VOICE: "[OPT] ON 'MEET THE PRESS' YESTERDAY, HOST TIM RUSSERT ASKED PRESIDENT CLINTON POINT BLANK, [DIRECTLY] 'IF A PLANE IS SHOT DOWN BY THE IRAQIS, WILL THAT BE CONSIDERED AN ACT OF WAR BY THE UNITED STATES?' MR. CLINTON BLINKED. 'I BELIEVE THAT'S HOW THE PENTAGON CHARACTERIZES IT,' WAS HIS UNINSPIRING RESPONSE. [END OPT] ..... THE BOTTOM LINE IS THIS: SADDAM HUSSEIN HAS PROVEN HIMSELF UNWILLING TO COMPLY WITH INTERNATIONAL RESOLUTIONS, AGREED TO BY IRAQ ITSELF AT THE END OF THE [GULF] WAR. YESTERDAY, HE SAID AS MUCH AGAIN ..... PRESIDENT CLINTON MAY WANT TO KEEP TALKING, BUT SADDAM IS NOT LISTENING. HE NEVER WAS. WE HAVE TO SHOW HIM WE MEAN BUSINESS."

TEXT: DOMESTICALLY, "THE LOS ANGELES TIMES" IS REACTING TO THE LATEST RELEASE OF MORE TAPED CONVERSATIONS FROM THE RICHARD NIXON PRESIDENCY, TYING IT TO THE LATEST EFFORT AT CAMPAIGN FINANCE REFORM, WHICH THE SENATE WILL VOTE ON EARLY NEXT YEAR.

VOICE: "THE GHOST OF WATERGATE STIRRED AGAIN IN WASHINGTON AT THE END OF OCTOBER ..... [WHEN] A TRANSCRIPT OF PREVIOUSLY UNDISCLOSED NIXON WHITE HOUSE TAPES WAS PUBLISHED, A QUARTER-CENTURY AFTER THE BUNGLED BURGLARY AT THE DEMOCRATIC NATIONAL COMMITTEE OFFICES ..... IN THE OVAL OFFICE ON AUGUST FIRST, 1972, [MR.] NIXON AND HIS CHIEF OF STAFF H-R HALDEMAN, TALKED ABOUT USING A SECRET WHITE HOUSE SLUSH FUND -- ILLEGALLY DIVERTED CAMPAIGN MONEY -- TO BUY SILENCE FROM THE WATERGATE BURGLARS. 'IT'S VERY EXPENSIVE,' [MR.] HALDEMAN SAID. 'THAT'S WHAT THE MONEY IS FOR,' [PRESIDENT] NIXON RESPONDED. 'THEY HAVE TO BE PAID. THAT'S ALL THERE IS TO THAT.'"

TEXT: "THE NEW YORK TIMES" SAYS THE CONGRESS SHOULD NOT THINK THE AMERICAN PUBLIC IS NOT IN FAVOR OF CAMPAIGN REFORM JUST BECAUSE IT IS SKEPTICAL.

VOICE: "THEY [CONGRESSMEN] ARE MISTAKING SKEPTICISM FOR LACK OF DESIRE, AND IT IS NO WONDER THAT AMERICANS ARE SKEPTICAL ABOUT THE CHANCES FOR REFORM. PROPAGANDISTS FOR THE STATUS QUO ARE ARGUING THAT MONEY WILL ALWAYS OVERWHELM AMERICAN POLITICS, NO MATTER WHAT THE LAW SAYS. .... BUT SUCH CONCLUSIONS ARE NOT ONLY DEFEATIST. THEY FLY IN THE FACE OF [ ARE CONTRADICTED BY] HARD EXPERIENCE ...THERE IS NO HIGHER PRIORITY FOR CONGRESS THAN [CAMPAIGN REFORM] ...."

TEXT: TODAY'S "BOSTON GLOBE" CELEBRATES THE PENTAGON'S DECISION TO BUY SEVERAL HIGH-TECHNOLOGY M-I-G 29 WARPLANES FROM MOLDOVA TO KEEP THEM OUT OF THE IRANIAN AIR FORCE, CALLING IT:

VOICE: "....AN INGENIOUS, CUT-RATE [LOW COST] METHOD FOR PROTECTING THE NATIONAL SECURITY. .... BUYING THE BEST OF MOLDOVA'S DECOMMISSIONED AIR FORCE IS LESS COMPLICATED AND LESS RISKY THAN HAVING TO TAKE SOME PREEMPTIVE MILITARY ACTION AGAINST TEHRAN A FEW YEARS FROM NOW."

TEXT: CHINA'S BIG MOVE AHEAD ON THE ENVIRONMENTALLY CONTROVERSIAL THREE GORGES DAM, DRAWS THIS COMMENT FROM "THE WALL STREET JOURNAL."

VOICE: ".... ON SATURDAY, WITH THE DIVERTING OF CHINA'S YANGTZE RIVER TO PREPARE FOR CONSTRUCTION OF THE THREE GORGES DAM, WE MAY HAVE WITNESSED THE START OF THE LAST GREAT VANITY PROJECT OF THE AGE. ..... WITHOUT DOUBT, MANY OF THE GREAT TECHNOLOGICAL EFFORTS OF OUR TIME HAVE YIELDED GREAT BENEFITS TO MANKIND. AT THIS STAGE, WE MUST HOPE THAT THE THREE GORGES PROJECT WILL NOT GO DOWN IN HISTORY AS ANOTHER EXAMPLE OF THE MISALLOCATION OF RESOURCES SO COMMON IN COMMUNIST COUNTRIES, SO OFTEN WITH TRAGIC RESULTS."

TEXT: WHILE ON ANOTHER FRONT, CHINA'S FAMED BIRTH CONTROL POLICY OF ALLOWING FAMILIES ONLY ONE CHILD, NOW BEING EASED, DRAWS THIS RESPONSE FROM "THE CHRISTIAN SCIENCE MONITOR."

VOICE: "THE REASONS FOR GIVING A NOD TO [APPROVING] CHINA'S LOOSENING ARE FAIRLY SIMPLE: PARENTAL FREE CHOICE ON BIRTH PLANNING IS PREFERABLE TO STATE MANDATE -- ESPECIALLY ONE THAT HAS SOMETIMES PROVIDED AN EXCUSE FOR FEMALE INFANTICIDE.... FOLLOWING ... CHINA'S ONE-PLUS CHILD POLICY, OTHER PEOPLES WHOSE HIGH BIRTH RATES ARE STRAINING FAMILY AND SOCIETAL ABILITY TO GIVE ADEQUATE CARE TO CHILDREN MIGHT FOLLOW THE SAME SEQUENCE."

TEXT: AND LASTLY, ON REFORMING THE INTERNAL REVENUE SERVICE [I-R-S] TODAY'S PORTLAND [MAINE] PRESS HERALD SUGGESTS:

VOICE: "THE HOUSE OF REPRESENTATIVES ON WEDNESDAY PASSED A GOOD PIECE OF LEGISLATION AIMED AT RESTORING SANITY TO THE INTERNAL REVENUE SERVICE. THE SENATE SHOULD TAKE IT UP IMMEDIATELY AND SEND IT TO PRESIDENT CLINTON. .... MEANINGFUL REFORM OF THE I-R-S IS WITHIN REACH. [SENATE MAJORITY LEADER TRENT] LOTT AND HIS FELLOW REPUBLICANS SHOULD GRAB IT."

TEXT: ON THAT NOTE, WE CONCLUDE THIS BRIEF SAMPLING OF COMMENTS FROM THE EDITORIAL PAGES OF MONDAY'S U-S PRESS.
NEB/ANG/ MMK
10-Nov-97 10:33 AM EST (1533 UTC)
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Source: Voice of America

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

INTRO: STOCK PRICES IN THE UNITED STATES WERE DOWN MODERATELY IN LIGHT TRADING TODAY (MONDAY). V-O-A'S MAX RUSTON HAS THE LATEST FINANCIAL NEWS FROM NEW YORK.

TEXT: THE DOW JONES INDUSTRIAL AVERAGE CLOSED AT 75-HUNDRED-53, ENDING THE DAY DOWN 29 POINTS, FOLLOWING A GAIN OF NEARLY 80 POINTS EARLY IN THE TRADING DAY.

THE BROADER STANDARD AND POOR'S 500 INDEX CLOSED SLIGHTLY LOWER AT 921, DOWN SIX POINTS.

TRADING VOLUME WAS LIGHT, WITH ABOUT 450-MILLION SHARES CHANGING HANDS. BROKERS SAYS THERE WAS A NOTICEABLE LACK OF ENTHUSIASM AMONG BUYERS. SHARES OF AIRLINE COMPANIES WERE AMONG THE BIGGEST LOSERS AMID INCREASED CONCERNS ABOUT SECURITY IN THE MIDDLE EAST.

ANALYSTS SAY INVESTORS APPEAR TO BE APPROACHING THE STOCK MARKET WITH CAUTION. THEY SAY THIS ATTITUDE WAS FUELED BY CONTINUED GLOBAL ECONOMIC VOLATILITY AND UNCERTAINTY OVER U-S INTEREST RATES, AHEAD OF THE NEXT FEDERAL RESERVE BOARD MEETING ON WEDNESDAY.

BUSINESS NEWS WAS DOMINATED BY TWO GIANT CORPORATE MERGERS.

IN THE COMMUNICATIONS INDUSTRY, M-C-I APPEARS TO HAVE ACCEPTED THE LATEST TAKEOVER BID FROM WORLDCOM -- A DEAL VALUED AT TENS OF BILLIONS OF DOLLARS. THAT DEAL HAS SPARKED A NEW FOCUS ON POSSIBLE MERGERS AMONG REMAINING COMPANIES IN THAT SECTOR, TELECOMMUNICATIONS FIRMS G-T-E AND A-T-AND-T, IN PARTICULAR.

IN THE HOSPITALITY SECTOR, THE BITTER TAKEOVER BATTLE BETWEEN HILTON HOTELS AND I-T-T MAY SOON BE OVER. ON WEDNESDAY, I-T-T WILL HOLD A CRUCIAL MEETING AT WHICH SHAREHOLDERS WILL BE ASKED TO CHOOSE BETWEEN TWO SEPARATE GROUPS OF DIRECTORS, ONE SUPPORTING HILTON'S BID, THE OTHER BACKING AN OFFER FROM STARWOOD LODGING TRUST. I-T-T MANAGEMENT IS OPPOSED TO THE BID FROM THE HILTON HOTELS CORPORATION.

AND APPLE COMPUTER ANNOUNCED A NEW DISTRIBUTION STRATEGY IN AN ATTEMPT TO STEP UP SALES OF ITS POWER MAC COMPUTERS. THE CALIFORNIA-BASED COMPANY WILL USE THE COMPUTER INTERNET, ALONG WITH EXISTING DISTRIBUTORS, TO SELL ITS PRODUCTS ON A BUILD-TO-ORDER BASIS. APPLE WAS ONCE A LEADER IN THE COMPUTER INDUSTRY. BAD MANAGEMENT HAS BEEN BLAMED FOR THE MAJOR DECLINE IN ITS MARKET SHARE IN RECENT YEARS. (SIGNED) NEB/NY/MPR/LSF/RRM
10-Nov-97 4:56 PM EST (2156 UTC)
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Source: Voice of America

[07] YUGO REFUGEES BY ART CHIMES (NEAR NIS, YUGOSLAVIA)

INTRO: FEDERAL YUGOSLAVIA HOSTS EUROPE'S LARGEST REFUGEE POPULATION, SERBS DISPLACED FROM CROATIA AND BOSNIA DURING THE BALKAN WAR. V-O-A CORRESPONDENT ART CHIMES REPORTS THAT NOW, AS WINTER APPROACHES, HUMANITARIAN ORGANIZATIONS FACE CONTINUED CHALLENGES AS THE REFUGEES THEMSELVES RISK BEING FORGOTTEN.

TEXT:

FROM THE FRONT, THIS BUILDING NEAR THE CITY OF NIS LOOKS LIKE THE ELEMENTARY SCHOOL IT IS; BUT WALK AROUND BEHIND IT, PAST THE OUTHOUSE AND THE OUTDOOR WATER FAUCET, AND ENTER WHAT USED TO BE STORAGE ROOMS AND IS NOW HOME FOR THREE GENERATIONS OF REFUGEES.

THE FAMILY CAME FROM KNIN, IN THE KRAJINA REGION OF CROATIA, AND THEY HAVE BEEN LIVING HERE FOR TWO YEARS NOW, SINCE THEY WERE EXPELLED FROM THE REGION, ALONG WITH ALL THE OTHER SERBS. MILENA (EDS: NO FAMILY NAME GIVEN) TELLS VISITORS SHE WORKED BEFORE AS A HAIRDRESSER, AND HER HUSBAND AS A RAILROAD WORKER. NOW, SHE SAYS HER HUSBAND WORKS ONLY OCCASIONALLY AS A DAY LABORER FOR 20 DINARS -- AROUND THREE DOLLARS A DAY.

HER EIGHT-YEAR OLD SON HAS PERSISTENT EYE PROBLEMS. DOCTORS SAY IT MAY BE BECAUSE OF THE STRESS OF DISLOCATION FROM HOME.

ACCORDING TO GOVERNMENT STATISTICS, THERE ARE MORE THAN 600-THOUSAND PEOPLE DISPLACED BY THE WAR IN THE FORMER YUGOSLAVIA LIVING IN WHAT IS NOW FEDERAL YUGOSLAVIA -- ALMOST ALL OF THEM IN SERBIA. INTERNATIONAL ORGANIZATIONS HAVE A STRICTER DEFINITION OF WHO IS A REFUGEE, AND SAY THE NUMBER IS CLOSER TO 540-THOUSAND. EITHER WAY, IT IS A LOT OF PEOPLE, MANY OF WHOM CANNOT SUPPORT THEMSELVES.

WINTER IS APPROACHING, AND IT WILL BE A DIFFICULT TIME FOR THE REFUGEES. NO ONE KNOWS THAT BETTER THAN THE GENERAL SECRETARY OF THE YUGOSLAV RED CROSS, RADE DUBAJIC.

IN AN INTERVIEW IN HIS BELGRADE OFFICE, MR. DUBAJIC SAYS THE REFUGEES NEED SHOES AND WARM CLOTHING AND FOOD, AND DONORS ARE CUTTING BACK.

AND HE ADDS, WITH WINTER COMING, THERE WILL BE LESS SEASONAL WORK AVAILABLE BECAUSE MUCH OF THAT WORK IS IN AGRICULTURE.

MR. DUBAJIC SAYS THE BEST SOLUTION WOULD BE FOR THE REFUGEES TO RETURN HOME, BUT HE ADMITS THAT IS NOT POSSIBLE UNDER CURRENT CONDITIONS.

AND I THINK THE REALITY IS, HE SAYS, THAT MOST OF THESE REFUGEES WILL STAY HERE, IN YUGOSLAVIA.

BACK AT MILENA'S HOUSE, IN THE SCHOOL NEAR NIS, I ASK HER WHAT KIND OF SOLUTION SHE SEES TO HER FAMILY'S PREDICAMENT.

IT IS EASY TO FORGET THE HUGE REFUGEE PROBLEM IN SERBIA. THE INTERNATIONAL COMMUNITY HAS FOCUSED MORE ON THE REFUGEES IN BOSNIA-HERZEGOVINA. AND EVEN WITHIN YUGOSLAVIA, THEY ARE EASY TO OVERLOOK, BECAUSE 90 PERCENT OF THE REFUGEES LIVE WITH RELATIVES OR FRIENDS, NOT IN REFUGEE CAMPS OR MAKESHIFT FACILITIES LIKE THIS SCHOOL. (SIGNED)
NEB/ART/JWH/MMK
10-Nov-97 11:36 AM EST (1636 UTC)
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Source: Voice of America

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