Voice of America, 98-08-25

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

CONTENTS

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

[02] BRITAIN / IRELAND (L) BY LAURIE KASSMAN (LONDON)

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

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

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

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

INTRO: THE U-N REFUGEE AGENCY, U-N-H-C-R, SAYS IT IS EXPANDING ITS HUMANITARIAN OPERATIONS IN YUGOSLAVIA'S KOSOVO PROVINCE WHERE THE AGENCY SAYS THE SITUATION IS DETERIORATING. LISA SCHLEIN REPORTS FROM GENEVA.

TEXT: U-N REFUGEE AGENCY SPOKESMAN KRIS JANOWSKI SAYS THE LATEST VIOLENCE SOUTHWEST OF THE CAPITAL, PRISTINA, IS FORCING HUNDREDS OF VILLAGERS TO FLEE THEIR HOMES. HE REPORTS SHELLING ATTACKS AND HOUSES SET AFIRE IN A STRING OF VILLAGES STRETCHING 25 KILOMETERS SOUTH OF PRISTINA. MR. JANOWSKI, WHO HAS JUST RETURNED FROM A VISIT TO KOSOVO, DESCRIBES WHAT HE SAW AS A CHILLING EXPERIENCE OF DEJA VU.

VISITING THE VILLAGES AROUND PRISTINA, IN A SORT OF RECTANGLE WEST OF PRISTINA, WHICH IS PRETTY MUCH SURROUNDED BY THE SERB FORCES. PEOPLE SQUEEZED INTO VERY LITTLE SPACE. GENERALLY A VERY GRIM SITUATION WHICH VERY MUCH RESEMBLES BOSNIA IN EARLY STAGES OF THE WAR.

THE UNITED NATIONS ESTIMATES MORE THAN 230-THOUSAND OF KOSOVO'S POPULATION OF TWO-MILLION HAVE BEEN MADE HOMELESS SINCE FIGHTING BROKE OUT A FEW MONTHS AGO BETWEEN YUGOSLAV SECURITY FORCES AND THE KOSOVO LIBERATION ARMY.

TO HELP THE GROWING NUMBERS OF DISPLACED PEOPLE, MR. JANOWSKI SAYS THE REFUGEE AGENCY IS GREATLY EXPANDING ITS ASSISTANCE OPERATION IN KOSOVO. HE SAYS IT IS ADDING MORE STAFF AND BRINGING IN MORE RELIEF SUPPLIES.

WE HAVE APPEALED TO THE YUGOSLAV AND SERB AUTHORITIES NOT TO PUT RED TAPE ON OUR ACTIVITIES THERE IN TERMS OF VISAS, IN TERMS OF LICENSES FOR HAND-CARRIED RADIOS WHICH HAS BEEN A PROBLEM ESPECIALLY WITH NON-GOVERNMENTAL ORGANIZATIONS WHICH HAVE BEEN PLEADING WITH THE AUTHORITIES TO GET LICENSES, FREQUENCIES TO NO AVAIL SO FAR.

MR. JANOWSKI SAYS SERB AUTHORITIES OFTEN DENY AID AGENCIES ACCESS TO THE WAR VICTIMS. HE SAYS A U-N-H-C-R FIELD TEAM WAS BARRED MONDAY BY SERB POLICE FROM PROCEEDING TO MAGURA, THE SCENE OF RECENT FIGHTING. HE SAYS THE TEAM WAS TO TRY AGAIN TUESDAY TO REACH THE TOWN. HE SAYS THE TEAM ALSO HOPES TO ESCORT A 10-TRUCK CONVOY CARRYING RELIEF SUPPLIES TO BARANE, A VILLAGE SOUTHWEST OF PEC, A REGION PARTICULARLY HARD-HIT BY THE WAR. (SIGNED)
NEB/LS/JWH/MMK
25-Aug-98 8:47 AM EDT (1247 UTC)
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Source: Voice of America

[02] BRITAIN / IRELAND (L) BY LAURIE KASSMAN (LONDON)

INTRO: BRITISH PRIME MINISTER TONY BLAIR USED A VISIT TO THE NORTHERN IRELAND TOWN OF OMAGH TO ANNOUNCE THAT PARLIAMENT WILL BE RECONVENED NEXT WEEK TO TAKE UP WHAT HE CALLS DRACONIAN ANTI-TERRORISM MEASURES. THE SPECIAL TWO-DAY SESSION COINCIDES WITH A SIMILAR EMERGENCY SESSION OF THE IRISH PARLIAMENT. LAURIE KASSMAN IN LONDON REPORTS THE DECISION COMES AFTER A TERRORIST CAR BOMB IN OMAGH TWO WEEKS AGO KILLED 28 PEOPLE AND INJURED MORE THAN 200.

TEXT: PRIME MINISTER BLAIR SAYS THE ANTI-TERRORISM LAWS WILL HELP CRUSH A SMALL NUMBER OF OUTLAWED EXTREMIST GROUPS TRYING TO DISRUPT NORTHERN IRELAND'S PEACE PROCESS. HE CALLS THEM OUTCASTS WITH NO SUPPORT AMONG THE PEOPLE.

THE BIG DIFFERENCE NOW IS THAT WE KNOW THAT WE ARE DEALING WITH A SMALL RESIDUAL GROUP OF EXTREMISTS THAT WANT TO CARRY ON THIS VIOLENCE. AND WE KNOW TOO THAT WHEN WE ARE ACTING NOW, WE'RE NOT JUST ACTING AS THE BRITISH GOVERNMENT. THIS IS THE IRISH REPUBLIC TAKING ACTION AND BRITISH GOVERNMENT TAKING ACTION WITH RESPECT TO THE UNITED KINGDOM. AND THOSE TWO CHANGES PROVIDE THE CONTEXT IN WHICH WE CAN TAKE MEASURES WHICH ARE OTHERWISE OF COURSE ARE VERY DRACONIAN AND FUNDAMENTAL IN NATURE.

MR. BLAIR SAYS THE LAWS ALSO WOULD CRACK DOWN ON THOSE WHO USE BRITAIN AS A BASE FOR TERRORIST OPERATIONS OUTSIDE THE COUNTRY.

SUCH A PROPOSITION WAS THE INTENTION OF THE PREVIOUS GOVERNMENT, AND OF THIS GOVERNMENT AND WAS STRONGLY PRESSED UPON US BY MANY STATES WHO ARE CONCERNED ABOUT WHAT THEY BELIEVE TO BE U-K NATIONALS OF THEIR COUNTRY TO PLAN TERRORIST ACTS ABROAD. IN THE WAKE OF THE RECENT TERRORIST ACTIVITES ABROAD, THIS IS A TIMELY AND RIGHT MOVE TO UNDERSCORE OUR TOTAL COMMITMENT TO DEFEATING TERRORISM WHEREVER IT IS PLOTTED OR EXECUTED.

THE NEW ANTI-TERRORISM MEASURES WILL MAKE IT EASIER TO ARREST SUSPECTS BASED ON EVIDENCE FROM SENIOR POLICE OFFICIALS AND PUNISH THOSE WHO DO NOT COOPERATE DURING DETENTION.

THE POLITICAL WING OF THE IRISH REPUBLICAN ARMY, SINN FEIN, HAS CRITICIZED THE HARSH MEASURES AS TOO MUCH. HARDLINE PROTESTANT POLITICIANS IN NORTHERN IRELAND SAY THEY ARE NOT ENOUGH. (SIGNED)
NEB/LMK/JWH
25-Aug-98 1:22 PM EDT (1722 UTC)
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Source: Voice of America

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

INTRO: STOCK PRICES ROSE SHARPLY IN TRADING TUESDAY IN EUROPE. V-O-A'S JACK HUIZENGA HAS THE CLOSING MARKET REPORT FROM LONDON.

TEXT: THE EUROPEAN EXCHANGES ALL WERE UP, ALTHOUGH ON A LIGHT VOLUME. ANALYSTS SAY INVESTORS APPARENTLY FEEL THEY MAY HAVE OVER-REACTED TO RUSSIA'S FINANCIAL PROBLEMS AND HAVE DECIDED TO GET BACK INTO THE MARKET.

THE BIGGEST GAIN WAS IN FRANKFURT, WHICH HAD SUFFERED SOME OF THE BIGGEST LOSES IN THE PAST FEW DAYS. THE DAX INDEX WAS UP 154 POINTS, MORE THAN TWO-AND-NINE-TENTHS PERCENT. IN PARIS, THE CAC-40 INDEX CLOSED UP 92 POINTS, TWO-AND-THREE-TENTHS PERCENT.

AND IN LONDON, THE FOOTSIE-100 INDEX ROSE 101 POINTS, ONE-AND-EIGHT-TENTHS PERCENT.

ON THE LONDON CURRENCY EXCHANGE, THE VALUE OF THE U-S DOLLAR WAS UP AGAINST THE GERMAN MARK AND THE JAPANESE YEN. BUT IT WAS DOWN AGAINST THE BRITISH POUND. (SIGNED)
NEB/JWH/MMK
25-Aug-98 1:58 PM EDT (1758 UTC)
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Source: Voice of America

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

INTRO: STOCK PRICES IN THE UNITED STATES WERE UP TODAY (TUESDAY) ALTHOUGH A STRONG RALLY FADED IN THE LAST HOUR OF TRADING. VOA CORRESPONDENT BRECK ARDERY REPORTS FROM NEW YORK.

TEXT: THE DOW JONES INDUSTRIAL AVERAGE CLOSED AT 86 HUNDRED TWO, UP 36 POINTS. THE STANDARD AND POOR'S 500 INDEX CLOSED AT ONE THOUSAND 92, UP FOUR POINTS.

STOCKS WERE STRONG FOR MOST OF THE SESSION WITH THE INDUSTRIAL AVERAGE UP MORE THAN 100 POINTS FOR SEVERAL HOURS. BUT THE UPWARD MOMENTUM FADED IN THE FINAL HOUR. ANALYSTS SAY THERE WAS SOME DISAPPOINTMENT ON WALL STREET ABOUT THE TERMS OF RUSSIA'S DEBT RESTRUCTURING PROGRAM AND SOME CONCERN ABOUT A TERRORIST ATTACK AT A U-S FRANCHISE RESTAURANT IN SOUTH AFRICA.

AN INDEX OF U-S CONSUMER CONFIDENCE IS DOWN THIS MONTH FOR THE SECOND MONTH IN A ROW. HOWEVER, ANALYSTS SAY THE INDEX IS NOT FORECASTING ANY SERIOUS SLOWDOWN IN THE DOMESTIC ECONOMY.

SALES OF EXISTING HOMES IN THE UNITED STATES SOARED IN JULY TO A RECORD HIGH FOUR POINT NINE MILLION ANNUAL RATE. ANALYSTS SAY THE STRONG U-S ECONOMY AND LOW MORTGAGE INTEREST RATES ARE FUELING THE DEMAND FOR HOUSING.

WALTER MALONEY OF THE NATIONAL ASSOCIATION OF REALTORS SAYS THE HOME BUYERS CROSS ALL DEMOGRAPHIC LINES.

A LOT OF THEM (BUYERS) ARE MINORITIES, IMMIGRANTS AND "NON-TRADITIONAL" HOUSEHOLDS SUCH AS SINGLES THAT ARE BUYING HOMES AND FREEING OTHER PEOPLE TO TRADE-UP TO LARGER HOMES. WE HAVE ALL SEGMENTS OF THE MARKET DOING WELL AND WE WOULD CATEGORIZE THIS AS A PRETTY BALANCED MARKET BETWEEN BUYERS AND SELLERS.

AIRBUS INDUSTRIES, THE EUROPEAN CONSORTIUM, HAS RECEIVED THE LARGEST SHARE OF A JETLINER ORDER FROM BRITISH AIRWAYS. THE DEAL, INVOLVING 188 AIRPLANES, IS ESTIMATED TO BE WORTH EIGHT TO NINE BILLION DOLLARS. IT IS THE FIRST TIME THAT BRITISH AIRWAYS HAS BOUGHT ANY EQUIPMENT FROM AIRBUS. KELLOGG, THE U-S-BASED BREAKFAST CEREAL COMPANY, WILL OPEN A PLANT IN MALAYSIA. THE FACILITY WILL INITIALLY PRODUCE "RICE KRISPIES" SNACKS AND MAY BE EXPANDED TO INCLUDE OTHER KELLOGG BRANDS SUCH AS "FROSTED FLAKES."

THE SUNBEAM SMALL APPLIANCE COMPANY HAS ANNOUNCED A MAJOR REORGANIZATION PLAN AND SAYS THERE ARE NO PLANS TO SEEK BANKRUPTCY LAW PROTECTION. SUNBEAM ALSO SAYS IT WILL CONTINUE TO OPERATE FOUR PLANTS WHICH OUSTED CHAIRMAN AL DUNLAP PLANNED TO CLOSE. MR. DUNLAP -- NICKNAMED '"CHAINSAW AL" FOR HIS VIGOROUS COST-CUTTING METHODS -- WAS FIRED BY SUNBEAM IN JUNE.

THE HEAD OF THE UNITED AUTO WORKERS UNION HAS ISSUED A STINGING ATTACK ON MANAGEMENT AT GENERAL MOTORS. IN JULY, AT THE END OF TWO BITTER STRIKES, G-M SAID IT WOULD WORK FOR A MORE OPEN RELATIONSHIP WITH THE UNION. BUT U-A-W PRESIDENT STEVE YOKICH (YOKE-ICH) SAYS HE HAS SEEN NO EVIDENCE OF THAT. IN FACT, MR. YOKICH SAYS HE DID NOT EVEN KNOW ABOUT G-M'S DECISION TO SPIN-OFF ITS DELPHI AUTO PARTS UNIT INTO A SEPARATE COMPANY UNTIL AFTER THE DECISION HAD BEEN MADE. G-M HAD NO IMMEDIATE COMMENT ON MR. YOKICH'S REMARKS.(SIGNED) NEB/NY/BA/LSF/PLM
25-Aug-98 5:03 PM EDT (2103 UTC)
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Source: Voice of America

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

INTRO: THE U-S RESPONSE TO TERROR AND RUSSIA'S LATEST POLITICAL SHUFFLE VIE FOR THE UPPER SPOT IN THE EDITORIAL COLUMNS OF MANY U-S NEWSPAPERS THIS TUESDAY.

OTHER TOPICS INCLUDE THE FORTHCOMING "SUMMIT OF THE BESIEGED" AS THE CHRISTIAN SCIENCE MONITOR CALLS THE PENDING CLINTON-YELTSIN MEETING; GIVING AID TO THE NATION'S STRUCK BY THE U-S EMBASSY BOMBINGS; AND HOW THE SHAKY FINANCIAL SITUATION IN RUSSIA MAY OR MAY NOT BE AFFECTING BRAZIL AND OTHER LATIN AMERICAN MARKETS. NOW, HERE IS _____________________WITH A CLOSER LOOK AND SOME QUOTES IN TODAY'S EDITORIAL DIGEST.

TEXT: "THE [NEW YORK] DAILY NEWS" COMMENDS THE CLINTON WHITE HOUSE FOR FIGHTING -- TERRORISM ON ALL FRONTS.

VOICE: THE PENDING INDICTMENT OF TERROR-MASTER OSAMA BIN LADEN BY A MANHATTAN FEDERAL GRAND JURY SHOWS THAT UNCLE SAM IS USING ALL THE TOOLS AT HIS DISPOSAL TO ATTACK THE SCOURGE OF TERROR. FINALLY. [MR.] BIN LADEN WAS BEHIND THE MURDEROUS ... BOMBINGS OF THE AMERICAN EMBASSIES IN EAST AFRICA AND HAS NOTCHES ON HIS BELT FOR [CAN BE REASONABLY HELD RESPONSIBLE FOR] A HOST OF OTHER TERRORIST ATROCITIES AGAINST THE UNITED STATES. ... THE INDICTMENT, COUPLED WITH PRESIDENT CLINTON'S ANNOUNCEMENT THAT [MR.] BIN LADEN'S HUNDREDS OF MILLIONS IN FINANCIAL ASSETS WILL BE TARGETED, SHOWS THAT WASHINGTON HAS ACCELERATED THE WAR ON FINANCIAL AND LEGAL, AS WELL AS MILITARY, FRONTS.

TEXT: "THE NEW YORK POST" SAYS A COMPROMISE FOR A DIFFERENT TERRORIST IS A MISTAKE.

VOICE: TALK ABOUT YOUR MIXED MESSAGES: WITH THE SMOKE BARELY CLEARED FROM AMERICA'S ... [ATTACKS] IN AFGHANISTAN AND THE SUDAN, THE CLINTON ADMINISTRATION IS MOVING TO CUT A DEAL WITH LIBYA CONCERNING TWO ALLEGED ARCHITECTS OF THE PANAM 103 BOMBING. WASHINGTON AND LONDON HAVE MADE AN OFFER ... [IN] WHICH THE TWO LIBYANS SUSPECTED OF THE 1988 BOMBING WILL BE HANDED OVER TO THE NETHERLANDS AND TRIED THERE BY SCOTTISH JUDGES APPLYING SCOTTISH LAW. ... AT FIRST GLANCE, A TRIAL IN HOLLAND SEEMS BETTER THAN NO TRIAL AT ALL. BUT THE TRUTH IS THAT THIS IS A COMPROMISE THAT CONCEDES TOO MUCH.

TEXT: IN PORTLAND, "THE OREGONIAN" DISAGREES:

VOICE: ... IT IS NOT EVERYTHING THE UNITED STATES AND BRITAIN WANTED. ... [BUT] ... THE JOINT PROPOSAL HAS THE BENEFIT OF RECOGNIZING THE UNPALATABLE REALITY THAT [MR.] GADHAFI CAN DRAG THIS CASE OUT WITH HIS CONDITIONS -- BOGUS OR SINCERE -- FOR A LONG TIME, AND THAT AT SOME POINT JUSTICE DELAYED BECOMES JUSTICE DENIED FOR THE VICTIMS AND THEIR FAMILIES. WHY NOT CALL HIS BLUFF?

TEXT: "THE WASHINGTON TIMES" WONDERS WHETHER THIS COUNTRY IS BOTH WILLING AND READY FOR A REAL, NOT A RHETORICAL WAR, AGAINST TERRORISM.

VOICE: ... MR. CLINTON HAS PUT THE COUNTRY ON NOTICE THAT WE HAVE DECLARED 'WAR ON TERRORISM.' ABOUT TIME, A LOT OF PEOPLE WOULD SAY. ... THE QUESTION IS: DOES MR. CLINTON MEAN IT? BECAUSE IF HE DOES, IT WILL HAVE FAR-REACHING MEANING FOR U-S FOREIGN POLICY ... FIGHTING WORDS HAVE CONSEQUENCES. ... BUT LET IT BE A REAL WAR, NOT JUST A RHETORICAL ONE.

TEXT: ON TO RUSSIA'S LATEST POLITICAL TURMOIL, THE FIRING OF HIS ENTIRE GOVERNMENT BY PRESIDENT BORIS YELTSIN, AS THE FINANCIAL CRISIS DEEPENS, AND THE RE-INSTALLATION OF VIKTOR CHERNOMYRDIN AS PRIME MINISTER AFTER HIS FIRING JUST FIVE-MONTHS AGO. "THE NEW YORK TIMES" WRITES;

VOICE: ... RUSSIA ... CAN ILL AFFORD MR. CHERNOMYRDIN'S CAUTIOUS, COMPROMISING LEADERSHIP STYLE. ECONOMICALLY, RUSSIA IS NOW IN A DEEP, DOWNWARD SPIRAL. THE GOVERNMENT HAS BEEN UNABLE TO COLLECT TAXES OR PAY ITS WORKERS AND HAS LOST THE CONFIDENCE OF FOREIGN INVESTORS WHO ONLY MONTHS AGO WERE POURING MONEY INTO A COUNTRY ... ILL EQUIPPED TO HANDLE IT. FINDING A WAY TO RESTRUCTURE THE DEBTS OF BOTH THE GOVERNMENT AND THE RUSSIAN BANKS WILL BE A DIFFICULT CHALLENGE.

TEXT: "THE BOSTON GLOBE" IS PESSIMISTIC, NOTING:

VOICE: RUSSIA'S NEED FOR STABILITY -- POLITICAL, ECONOMIC, AND FINANCIAL -- HAS NOT BEEN ANSWERED BY BORIS YELTSIN'S DRAMATIC EXPULSION OF SERGEI KIRIYENKO AND RESURRECTION OF VIKTOR CHERNOMYRDIN. /// OPT /// ...THE

QUESTION IS WHETHER THE STOLID [MR.] CHERNOMYRDIN CAN SIMULTANEOUSLY SOOTHE A PETULANT POST-COMMUNIST RUMP CAUCUS IN THE DUMA AND EDGE FORWARD NECESSARY REFORMS.

TEXT: SEVERAL PAPERS ARE SUGGESTING THAT THE UPCOMING MEETING BETWEEN BILL CLINTON AND THE RUSSIAN LEADER WILL BE A "SUMMIT OF THE BESIEGED" AS "THE CHRISTIAN SCIENCE MONITOR" PUTS IT IN TODAY'S EDITORIAL HEADLINE.

VOICE: THE NATURES OF THEIR RESPECTIVE CRISES ARE, OF COURSE, COMPLETELY DIFFERENT. ... AMERICANS AND RUSSIANS NEED TO AVOID BECOMING MESMERIZED BY THESE GRAVE CONSTITUTIONAL SOAP OPERAS. IN MOSCOW'S CASE, IT IS IMPORTANT FOR THE FLEDGLING FIRST DEMOCRACY IN RUSSIAN HISTORY TO MAKE IT TO THE NEXT PRESIDENTIAL ELECTION WITHOUT A COUP OR IMPEACHMENT.

TEXT: TODAY'S "SUN" IN BALTIMORE IS SUGGESTING THE U-S NEEDS TO SEND AID TO BOTH KENYA AND TANZANIA WHICH BORE THE BRUNT OF THE DAMAGE FROM THE EMBASSY BOMBINGS.

VOICE: MORE THAN FIVE-THOUSAND PEOPLE WERE TREATED IN KENYA'S UNDER-EQUIPPED HOSPITALS AND 542 HOSPITALIZED. THE PHYSICAL DAMAGE TO THE CAPITAL, FOR SUCH A POOR COUNTRY, WAS HUGE. THIS MUST NOT BE FORGOTTEN AS MUCH AS OSAMA BIN LADEN OR OTHER ADVOCATES OF TERROR PRETEND THEIR TARGET IS THE UNITED STATES. AND IN TANZANIA, WHERE ... DAR ES SALAAM WAS LESS DAMAGED THAN NAIROBI, TANZANIA IS POORER THAN KENYA ....[AND] IS ALSO ONE OF AFRICA'S FEW WORKING DEMOCRACIES. BOTH COUNTRIES COOPERATED FULLY WITH U-S EFFORTS TO INVESTIGATE THE BOMBINGS, MUCH BETTER THAN SAUDI ARABIA DID TWO YEARS EARLIER. /// OPT

TEXT: ON TO THE AFTERMATH OF YET ANOTHER BOMBING, IN OMAGH, NORTHERN IRELAND, WHERE EXTREMIST SPLINTER GROUPS LIKE THE "REAL I-R-A," DRAWS THIS FROM TODAY'S "PROVIDENCE [RHODE ISLAND] JOURNAL.

VOICE: ... WHATEVER THE GROUP'S ORIGINAL EXPECTATIONS, IT GOT PRECIOUS LITTLE CREDIT FOR THE MURDEROUS DEED. ON THE CONTRARY, THERE WAS VIRTUALLY UNANIMOUS OUTRAGE -- AMONG CATHOLICS AND PROTESTANTS, REPUBLICANS AND UNIONISTS, RESIDENTS OF ULSTER AND OF THE IRISH REPUBLIC. THAT IS A KEY POINT TO REMEMBER WHEN PONDERING THE POTENTIAL RAMIFICATIONS OF THE CAR BOMBING. THE MAJORITY OF PEOPLE WANT PEACE .....

TEXT: IN LATIN AMERICA, "THE WALL STREET JOURNAL" POINTS OUT -- BRAZIL IS NOT RUSSIA -- AND EXAMINES CURRENT FEARS THE "CONTAGION" OF EMERGING MARKET PROBLEMS IN ASIA AND RUSSIA, WILL BRING DOWN THE FINANCES OF LATIN AMERICA. SAYS "THE JOURNAL" VENEZUELA IS MORE SUSCEPTIBLE TO TROUBLE THAN BRAZIL.

VOICE: FORTUNATELY BRAZIL, THE BIGGEST LATIN DOMINO, HAS DEMONSTRATED THE POLITICAL WILL TO MAINTAIN CURRENCY STABILITY FOR SOME FOUR YEARS NOW; PREDICTABLY, SPREADS ON BRAZILIAN BONDS ARE ABOUT HALF THAT OF VENEZUELAN PAPER. CERTAINLY BRAZIL NEEDS GREATER URGENCY ABOUT REFORM, BUT IT HAS SLOWLY BEGUN TO OPEN ITS MARKETS AND DISLODGE THE GOVERNMENT FROM THE MIDDLE OF EVERY ECONOMIC TRANSACTION. ... A GOVERNMENT WILLING TO FOLLOW THE RIGHT POLICIES NEED NOT BE A VICTIM OF 'CONTAGION.' BRAZIL IS NOT RUSSIA; NOR IS IT VENEZUELA.

TEXT: ON THAT NOTE, WE CONCLUDE THIS SAMPLING OF EDITORIAL COMMENT FROM TODAY'S U-S DAILY PAPERS.
NEB/ANG/RAE
25-Aug-98 11:02 AM EDT (1502 UTC)
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Source: Voice of America

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