Voice of America, 98-02-02

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

CONTENTS

[01] CROATIA / REFUGEES (L ONLY) BY LISA SCHLEIN (GENEVA)

[02] E-U / U-S TRADE (L ONLY) BY JOHN FRASER (BRUSSELS)

[03] EURO STOCKS (S-ONLY) BY PAUL FRANCUCH (LONDON)

[04] FRANCE / IRAQ (L ONLY) BY JULIAN NUNDY (PARIS)

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

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

[07] TURKEY / IRAQ (L ONLY) BY AMBERIN ZAMAN (ANKARA)

[01] CROATIA / REFUGEES (L ONLY) BY LISA SCHLEIN (GENEVA)

INTRO: THE INTERNATIONAL ORGANIZATION FOR MIGRATION (I-O-M) AND THE U-S AGENCY FOR INTERNATIONAL DEVELOPMENT ARE LAUNCHING A PROGRAM TO ASSIST THOUSANDS OF PEOPLE TO RETURN TO HOMES THEY FLED DURING THE WAR IN CROATIA. LISA SCHLEIN REPORTS FROM GENEVA.

TEXT: THE TWO AGENCIES SAY THEY HOPE TO RETURN AT LEAST 30-THOUSAND DISPLACED PEOPLE AND REFUGEES TO 16 OR MORE MUNICIPALITIES. ALL ARE LOCATED IN FOUR FORMERLY SERB-HELD AREAS IN CROATIA.

A SENIOR I-O-M OFFICIAL, WILLIAM HYDE, SAYS THE RECENT HANDOVER OF EASTERN SLAVONIA BY THE UNITED NATIONS TO THE CROATIAN GOVERNMENT SPARKED INTEREST IN THE PROJECT. MR. HYDE SAYS THE ORGANIZATION WILL EVALUATE PROPOSALS SUBMITTED BY MUNICIPALITIES WHO WANT TO TAKE PART.

MUNICIPALITIES THAT ARE INTERESTED IN FACILITATING RETURN TO THE AREAS THEMSELVES, VOLUNTARY RETURN, WOULD GO AHEAD AND PUT TOGETHER PROJECT PROPOSALS OF HOW THEY COULD GO AHEAD AND IMPROVE THE CONDITION FOR PEOPLE ACTUALLY RETURNING TO THEIR MUNICIPALITIES -- I.E., INFRASTRUCTURE PROJECTS OR SOCIAL SERVICE PROJECTS, HOW TO ACTIVATE RESOURCES THAT THEY'VE ALREADY GOT.

DURING THE WAR IN CROATIA, HUNDREDS OF THOUSANDS OF PEOPLE WERE EXPELLED FROM THEIR HOMES AND DISPLACED. MR. HYDE SAYS MANY OF THEM ARE EAGER TO RETURN, TO RECLAIM THEIR PROPERTY AND REBUILD THEIR LIVES.

HE SAYS CROATIANS WHO WERE OUSTED FROM THEIR HOMES BY SERBS IN EASTERN SLAVONIA ARE THE FIRST PEOPLE LIKELY TO RETURN. HE SAYS GETTING SERB REFUGEES TO RETURN TO THEIR FORMER HOMES IN CROATIA'S KRIJINA REGION WILL BE A MORE COMPLICATED PROCESS.

I DON'T THINK ANYONE IS MINIMIZING HOW DIFFICULT THIS IS GOING TO BE TO GET PEOPLE TO TAKE A FRESH LOOK AND GIVE A FRESH CHANCE TO ALL PARTIES INVOLVED TO SEE A WAY TO MAKE THE GENERAL SITUATION IMPROVE IN A METHOD LIKE THIS. INDEED, AS I MENTIONED BEFORE, THE IDEA IS TO PROVIDE THE OPPORTUNITY AND THE TOOLS FOR A MUNICIPALITY TO MAKE THAT DECISION THEMSELVES.

IF THE INITIAL PROJECTS ARE SUCCESSFUL, MR. HYDE BELIEVES MORE MUNICIPALITIES WILL GET INVOLVED IN HELPING REFUGEES RETURN. HE SAYS THE SUCCESSFUL RETURN OF REFUGEES WOULD HELP SHOW THAT CROATIA IS INTERESTED IN REBUILDING A UNIFIED COUNTRY. (SIGNED)
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02-Feb-98 8:50 AM EST (1350 UTC)
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Source: Voice of America

[02] E-U / U-S TRADE (L ONLY) BY JOHN FRASER (BRUSSELS)

INTRO: THE EUROPEAN UNION IS EXPLORING A NEW RELATIONSHIP WITH THE UNITED STATES, WHICH WOULD SWEEP AWAY BARRIERS TO TRADE AND INVESTMENT. JOHN FRASER REPORTS FROM E-U HEADQUARTERS IN BRUSSELS.

TEXT: EUROPEAN UNION OFFICIALS SAY BOTH EUROPE AND THE UNITED STATES HAVE AGREED TO DRAW UP DETAILED STUDIES WITHIN THE NEXT TWO MONTHS, IN PREPARATION FOR A MEETING IN MAY IN LONDON INVOLVING PRESIDENT CLINTON, BRITISH PRIME MINISTER TONY BLAIR, AND E-U COMMISSION PRESIDENT JACQUES SANTER.

A MAJOR AIM OF THIS SUMMIT WILL BE TO SEE WHETHER NEGOTIATIONS CAN BE LAUNCHED ON A NEW TRADE RELATIONSHIP BETWEEN THE EUROPEAN UNION, THE WORLD'S LARGEST TRADING BLOC, AND THE UNITED STATES, THE WORLD'S MOST POWERFUL ECONOMY.

OFFICIALS SAY ONE REASON FOR A NEW IMPETUS BEHIND THIS IDEA IS THE CRISIS AFFECTING SOUTH KOREA, THAILAND, AND THE OTHER ECONOMIES IN ASIA. THEY SAY THERE IS A FEELING IN BOTH BRUSSELS AND WASHINGTON THAT EFFORTS MUST BE MADE TO DEVELOP MORE SECURE AND STABLE EXPORT MARKETS.

FOR EUROPE, THAT MEANS THE UNITED STATES. FOR THE UNITED STATES, THAT MEANS EUROPE. HOWEVER, E-U OFFICIALS SAID MANY DETAILS STILL MUST BE WORKED OUT. FOR EXAMPLE, THERE ARE INTERNATIONAL TRADE RULES, AND NOTHING CAN BE AGREED BETWEEN EUROPE AND THE UNITED STATES WHICH WILL PUT THEM AT ODDS WITH THE WORLD TRADE ORGANIZATION.

OFFICIALS ALSO SAY IT IS LIKELY THAT ANY FUTURE TRANSATLANTIC ACCORD WOULD LARGELY EXCLUDE AGRICULTURAL TRADE. INSTEAD, IT WOULD CONCENTRATE ON THE REDUCTION OF TARIFFS ON INDUSTRIAL GOODS, THE REMOVAL OF TECHNICAL BARRIERS TO TRADE, A BOOST TO TRADE IN SERVICES SUCH AS AIR TRAVEL, AND CLOSER COOPERATION IN REGULATING MERGERS AND MAJOR COMPANIES.

EUROPEAN UNION OFFICIALS SAY THEY ARE COMMITTED TO TAKING AN AMBITIOUS LOOK AT THE POSSIBILITIES OF CREATING WHAT THEY CALL A NEW TRANSATLANTIC MARKETPLACE -- BRINGING THE ECONOMIES OF EUROPE AND THE UNITED STATES CLOSER THAN EVER BEFORE. (SIGNED)
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02-Feb-98 8:01 AM EST (1301 UTC)
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Source: Voice of America

[03] EURO STOCKS (S-ONLY) BY PAUL FRANCUCH (LONDON)

INTRO: THE MAJOR STOCK MARKETS OF WESTERN EUROPE CLOSED (MONDAY) WITH RECORD HIGHS, JOINING THE GLOBAL RALLY WHICH CHARACTERIZED THE TRADING DAY IN GENERAL. PAUL FRANCUCH PROVIDES THE CLOSING NUMBERS FROM LONDON.

TEXT: MARKET ANALYSTS SAY EUROPE'S RALLY WAS DRIVEN LARGELY BY TALK OF BIG MERGERS IN THE PHARMACEUTICAL BUSINESS AND THE ANNOUNCEMENT BRITISH FIRMS GLAXO-WELLCOME AND SMITHKLEIN-BEECHAM ARE MERGING TO FORM THE WORLD'S LARGEST DRUGS COMPANY.

THE ANNOUNCEMENT CAME AFTER TRADING CLOSED LAST FRIDAY, BUT WHEN LONDON'S MARKET OPENED MONDAY, THE "FINANCIAL TIMES" INDEX SOARED, CLOSING AT A NEW RECORD HIGH, UP 140-AND-A-HALF POINTS -- A TWO-AND-ONE-HALF PERCENT GAIN FOR THE DAY.

TALK OF PHARMACEUTICAL MERGERS IN GERMANY AND FRANCE DROVE UP STOCK PRICES THERE AS WELL. THE FRANKFURT "DAX 30" WAS UP 82-POINTS -- A GAIN OF NEARLY TWO PERCENT -- AND THE PARIS "CAC 40" ADDED 15-POINTS AT THE CLOSE -- ENOUGH TO END THE DAY ON A RECORD HIGH.

THE U-S DOLLAR TRADED LOWER AGAINST THE GERMAN MARK AND BRITISH POUND MONDAY. GOLD IN LONDON CLOSED UNCHANGED FROM FRIDAY. (SIGNED)
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02-Feb-98 1:56 PM EST (1856 UTC)
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Source: Voice of America

[04] FRANCE / IRAQ (L ONLY) BY JULIAN NUNDY (PARIS)

INTRO: FRANCE SAYS IT IS SENDING IRAQI PRESIDENT SADDAM HUSSEIN A FIRM MESSAGE TO ENCOURAGE HIM TO ABIDE BY UNITED NATIONS RESOLUTIONS AND AVOID AIR STRIKES AGAINST HIS COUNTRY. JULIAN NUNDY IN PARIS REPORTS FRANCE ALSO HAS BEEN IN TOUCH WITH RUSSIA AND TURKEY ABOUT JOINT DIPLOMATIC MOVES TO DEFUSE THE CRISIS.

TEXT: SINCE THE CURRENT TENSION BETWEEN IRAQ AND THE UNITED NATIONS AROSE, FRANCE HAS BEEN PUSHING FOR ALL DIPLOMATIC AVENUES TO BE EXPLORED.

WHILE PARIS HAS PROMISED POLITICAL SUPPORT TO THE UNITED STATES, WHICH IS PLANNING AIR STRIKES IF PRESIDENT SADDAM HUSSEIN DOES NOT ALLOW U-N INSPECTORS TO INSPECT SUSPECTED IRAQI CHEMICAL AND BIOLOGICAL WEAPONS SITES, FRANCE IS NONETHELESS RETICENT ABOUT MILITARY ACTION.

FRANCE'S DEFENSE MINISTER ALAIN RICHARD SAYS HE BELIEVES IT IS "PREMATURE" TO CONTEMPLATE MILITARY STRIKES. HE DOES, HOWEVER, SAY THAT IT IS IRAQ WHICH PROVOKED THE TENSION.

PRESIDENT JACQUES CHIRAC MET MONDAY WITH A SENIOR FRENCH DIPLOMAT WHO IS TRAVELING TO BAGHDAD TO STRESS THE NEED TO COMPLY WITH U-N RESOLUTIONS. MR. CHIRAC SAID FRANCE WILL BE SENDING WHAT HE CALLED "A FIRM MESSAGE" TO THE IRAQI LEADER.

THE MISSION BY THE SECRETARY GENERAL OF THE FRENCH FOREIGN MINISTRY IS PART OF A DIPLOMATIC INITIATIVE STARTED BY PARIS TO STOP A NEW CONFLICT BREAKING OUT. RUSSIA AND TURKEY HAVE ALSO SENT EMISSARIES TO THE IRAQI LEADER.

THE FRENCH PRESIDENT ALSO SPOKE WITH RUSSIA'S PRESIDENT BORIS YELTSIN MONDAY. A SPOKESWOMAN SAID THE CONVERSATION HAD CONFIRMED THAT FRANCE AND RUSSIA ARE CLOSE IN THEIR VIEWS ON THE CRISIS. SHE SAID THEY BOTH FAVOR A DIPLOMATIC SOLUTION AND PLAN JOINT INITIATIVES TO PERSUADE IRAQ TO RESPECT U-N WISHES.

A SENIOR FRENCH FOREIGN MINISTRY OFFICIAL SAID, MEANWHILE, THAT FRANCE IS TRYING TO FIND A SOLUTION, THAT IN HER WORDS, WILL "PRESERVE THE DIGNITY AND SOVEREIGNTY OF IRAQ."

FRANCE'S LATEST MISSION, THE OFFICIAL SAID, ALONGSIDE THOSE OF RUSSIA AND TURKEY, WAS AIMED AT DEMONSTRATING THE CONCERN OF THE INTERNATIONAL COMMUNITY AT IRAQ'S REFUSAL TO COOPERATE. (SIGNED)
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02-Feb-98 9:07 AM EST (1407 UTC)
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Source: Voice of America

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

INTRO: THE WHITE HOUSE SEX SCANDAL HAS FADED FROM THE TOP OF THE EDITORIAL PAGES AFTER TWO WEEKS OF ALMOST INCESSANT COMMENTARY, AND OTHER TOPICS OF NOTE ARE REPLACING IT. THIS MONDAY, FOR EXAMPLE, THE SITUATION WITH IRAQ HAS AS MANY EDITORIALS AS THE SITUATION AT THE WHITE HOUSE.

OTHER TOPICS UNDER DISCUSSION INCLUDE: THE SETTLEMENT WITH THE U-S TOBACCO INDUSTRY; A NEW PLAN TO PROTECT THE AMAZON RAIN FOREST; THE WHITE HOUSE AFFAIR, AND MORE GUN SAFETY. NOW, JOINING US IN THE STUDIO IS ______________________ WITH A CLOSER LOOK IN TODAY'S EDITORIAL DIGEST.

TEXT: TURNING FIRST TO THE IMMINENT CONFRONTATION WITH IRAQ, "U-S-A TODAY" SEEMS RESIGNED TO THE FACT THAT SOME SORT OF MILITARY ACTION WILL TAKE PLACE, CALLING IT REGRETTABLE BUT INEVITABLE.

VOICE: PIECE BY PIECE, PREPARATIONS FOR RENEWED BOMBINGS OF IRAQ ARE FALLING INTO PLACE. ...... SECRETARY OF STATE MADELEINE ALBRIGHT NOW SAYS AIR STRIKES ARE ONLY WEEKS AWAY. THERE'S MUCH TO WORRY ABOUT IN THE PROSPECT OF RENEWED BOMBING. SADDAM HUSSEIN MIGHT STILL HOLD OUT AS HE DID AFTER AIR ATTACKS OPENED THE PERSIAN GULF WAR, POTENTIALLY FORCING US TO CONSIDER MILITARY STEPS BEYOND BOMBING. ..... THE ALTERNATIVE TO BOMBING - - LETTING SADDAM KEEP HIS WEAPONS IN VIOLATION OF THE AGREEMENT THAT ENDED THE GULF WAR - - WOULD ONLY LEAD TO WORSE OPTIONS LATER. ..... BOMBING IRAQ CARRIES NO GUARANTEE OF SUCCESS. BUT DIPLOMATIC EFFORTS HAVE ALL BUT FAILED. BOMBING IS THE BEST OPTION LEFT.

TEXT: STILL IN THE REGION, "THE SUN" IN BALTIMORE CAUTIONS ITS READERS NOT TO EXPECT MUCH IMPROVED RELATIONS WITH IRAN ANY TIME SOON, DESPITE THE MODERATING WORDS OF THE NEW PRESIDENT.

VOICE: THE NEW GOVERNMENT OF IRAN SEEKS LOOSER RULES FOR ITS CITIZENS, MORE TRADE AND BETTER RELATIONS WITH MOST OF THE WORLD. NOTABLY THAT INCLUDES IRAQ, WITH WHICH IRAN FOUGHT A HORRIBLE WAR THROUGHOUT THE 1980S AND WHOSE FOREIGN MINISTER IT HAS RECENTLY ENTERTAINED. LOGICALLY, THIS SHOULD ALSO EXTEND TO THE UNITED STATES. BUT DON'T LOOK FOR CLOSE AND FRIENDLY RELATIONS SOON. PRESIDENT MOHAMMAD KHATAMI, THE LEADING MODERATE, SPOKE WARMLY OF THE AMERICAN PEOPLE AND CALLED FOR CULTURAL EXCHANGES. THE NATION'S SPIRITUAL LEADER, AYATOLLAH ALI KHAMENEI, WHO OUTRANKS THE PRESIDENT, THEN CALLED THE U-S GOVERNMENT THE ENEMY OF ISLAM AND IRAN. THERE WAS NO POLICY CONTRADICTION IN THIS GAME OF GOOD COP, BAD COP. CULTURAL RELATIONS, BUT NOT DIPLOMATIC RECOGNITION, ARE AVAILABLE.

TEXT: A MAJOR DOMESTIC ISSUE IS THE HUGE SETTLEMENT THE TOBACCO INDUSTRY HAS REACHED WITH THE ATTORNEYS GENERAL OF MORE THAN TWO DOZEN STATES, A SETTLEMENT NOW BEING CONSIDERED BY CONGRESS. "THE PHILADELPHIA INQUIRER" SAYS THE PACKAGE MAY BE "TOO LITTLE, TOO LATE."

VOICE: TOBACCO COMPANIES ARE TEST-MARKETING SOMETHING NEW: CANDOR AND CONTRITION. THAT'S WELCOME, BUT AFTER SO MANY YEARS OF INDUSTRY IRRESPONSIBILITY, POLICY-MAKERS AND THE PUBLIC SHOULD BEWARE. A QUINTET OF INDUSTRY EXECS LAST WEEK ADMITTED TO SOME AWKWARD TRUTHS. THEY CONCEDED THE LINK BETWEEN CIGARETTES AND LUNG CANCER,AND ALL BUT ONE OF THEM ALLOWED AS HOW CIGARETTES ARE ADDICTIVE. ..... ON A HUMAN LEVEL, PLAIN TALK AND REGRET ARE UTTERLY APPROPRIATE FROM THE MAKERS OF PRODUCTS THAT HAVE HOOKED [CAUSED ADDICTION TO] AND KILLED MILLIONS. BUT TAXPAYERS AND LAWMAKERS MUSTN'T BE MESMERIZED NOW THAT CIGARETTE-MAKERS ARE SOUNDING SORRY, AND PLEDGING TO ACT RESPONSIBLY. AFTER ALL, THIS NEW ATTITUDE WAS RECOMMENDED IN AN INTERNAL MEMO FROM A PR FIRM.

TEXT: MEANWHILE, "THE CHRISTIAN SCIENCE MONITOR" SUGGESTS WHAT THE FINAL AGREEMENT SHOULD LOOK LIKE.

VOICE: WHAT SHOULD EMERGE IS AN AGREEMENT THAT HOLDS THE INDUSTRY STRICTLY ACCOUNTABLE AND ASSURES THAT THE BILLIONS OWED CAN'T BE SIDESTEPPED BY STRATAGEMS TO REDISTRICT CORPORATE LIABILITY TO TOBACCO UNITS THAT MAY NOT HAVE THE FUNDS. ALREADY STRONG PROVISIONS TO CUT YOUTHFUL SMOKING SHOULD, IF ANYTHING, BE STRENGTHENED. AND WHILE THEY'RE AT IT, LAWMAKERS OUGHT TO MAKE IT CLEAR THAT RESTRICTIONS ON MARKETING TO YOUTH SHOULD TRULY APPLY GLOBALLY.

TEXT: TODAY'S "NEW YORK TIMES" IS CONCERNED THAT RECENT CHANGES IN BRAZIL'S ENVIRONMENTAL LAWS DESIGNED TO IMPROVE PROTECTION OF THE AMAZON RAIN FOREST DO NOT GO FAR ENOUGH.

VOICE: BRAZIL HAS GOOD LAWS ON THE BOOKS PROTECTING THE AMAZON BUT NO LEGAL POWER TO ENFORCE THEM. THE ENVIRONMENTAL AGENCY CAN LEVY ONLY ABSURDLY SMALL FINES AND COLLECTS LESS THAN 10 PERCENT OF THEM. THE LEGISLATION PASSED LAST WEEK TO CORRECT THIS HAS BEEN SITTING IN CONGRESS FOR SEVEN YEARS. ..... ENFORCEMENT OF ENVIRONMENTAL LAWS IS PARTICULARLY CRUCIAL GIVEN THE EVIDENCE THAT DAMAGE TO THE AMAZON IS RAPIDLY WORSENING. THIS CONTRIBUTES TO GLOBAL WARMING AND DESTROYS A FOREST THAT HOUSES THE MOST DIVERSE GROUP OF PLANTS AND ANIMALS IN THE WORLD.

TEXT: BACK HOME, THERE ARE STILL SOME EDITORIALS CONCERNING THE WHITE HOUSE SEX SCANDAL AND THE MAN ACTIVELY PURSUING IT, SPECIAL COUNSEL KENNETH STARR. TODAY'S "WASHINGTON POST" IN A LEAD EDITORIAL, DEFENDS THE PROBE, THOUGH LAMENTING ITS MOST RECENT AREA OF STUDY.

VOICE: THERE ARE THREE MAIN SOURCES OF UNEASE WITH THE WAY THE INVESTIGATION HAS BEEN TRANSFORMED. ONE HAS TO DO WITH THE CONSTANT MIGRATION AND BROADENING OF MR. STARR'S JURISDICTION. WHATEVER TURNS UP ENDS UP ON MR. STARR'S PLATTER, OR SO IT SEEMS. HE HAS BECOME LESS AN INDEPENDENT COUNSEL THAN A KIND OF STANDING INSPECTOR GENERAL FOR THE CLINTON WHITE HOUSE. SECOND IS THE SMARMY AND PERSONAL ZONE INTO WHICH THE JURISDICTIONAL SPREAD MOST RECENTLY HAS LED HIM. THIS IS NOW AT LEAST IN PART, AN INQUIRY INTO THE PRESIDENT'S SEX LIFE, BASED ON SURREPTITIOUS TAPE RECORDINGS BY ONE WOMAN OF THE SUPPOSED CONFIDENCES OF ANOTHER MUCH YOUNGER ONE. ..... FINALLY, MR. STARR HAS BEEN CHARGED BY MRS. CLINTON AND OTHERS WITH EITHER CONDUCTING OR LENDING HIMSELF TO A POLITICAL VENDETTA AGAINST THE PRESIDENT. HE DENIES IT, BUT A NUMBER OF THE ANCILLARY CHARACTERS IN THE DRAMA HAVE OPENLY ANTI-CLINTON AGENDAS, AND ON OCCASION MR. STARR'S OWN CARELESS BEHAVIOR HAS SEEMED TO SUPPORT THE CHARGE. OUR OWN SENSE, EVEN SO, IS THAT STEP BY STEP, EACH OF THE EXPANSIONS OF THE INVESTIGATION, INCLUDING THE CURRENT ONE, CAN BE JUSTIFIED. THE BASES HAVE NOT BEEN MANUFACTURED. THEY CONTINUE TO DERIVE, UNFORTUNATELY, FROM THE CLINTONS' OWN BEHAVIOR. THE QUESTIONS RAISED HAVE BEEN SERIOUS ONES AND THE KIND THAT REQUIRE INDEPENDENT INVESTIGATION. ..... THERE ARE PROBLEMS WITH MR. STARR, BUT THE BASIC PROBLEM HERE IS NOT WITH HIM.

TEXT: TODAY'S "LOS ANGELES TIMES" IS CALLING FOR GREATER GUN SAFETY AND NEW FEDERAL REGULATIONS TO ACHIEVE IT.

VOICE: THERE IS NOT ONE LEGALLY MANDATED SAFETY STANDARD OR CHILD-PROOFING REQUIREMENT FOR AMERICAN-MADE GUNS, AS A TIMES REPORT ...... SHOWED SUNDAY. THE FEDERAL CONSUMER PRODUCT SAFETY COMMISSION IS FORBIDDEN BY LAW TO EVEN MOVE IN THIS DIRECTION. GUNS ARE DESIGNED TO BE DANGEROUS TO ANY CREATURE THEY ARE POINTED AT, BUT THEY SHOULD NOT BE DANGEROUS BY ACCIDENT. EVERY YEAR SOME 15-HUNDRED PEOPLE DIE IN ACCIDENTAL SHOOTINGS AND THOUSANDS MORE ARE WOUNDED, MANY OF THEM CHILDREN. WITH TOY GUNS SUBJECT TO MYRIAD CONSUMER PROTECTIONS, IT IS A NO-BRAINER TO INSIST THAT REAL GUNS SHOULD BE AS WELL.

TEXT: ON THAT NOTE, WE CONCLUDE THIS SAMPLING OF SOME EDITORIAL COMMENTS FROM TODAY'S U-S PRESS.
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02-Feb-98 10:06 AM EST (1506 UTC)
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Source: Voice of America

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

INTRO: STOCK PRICES IN THE UNITED STATES SOARED TODAY (MONDAY) AS TRADERS SEEMED EUPHORIC ABOUT SEVERAL THINGS. V-O-A'S CORRESPONDENT BRECK ARDERY REPORTS FROM NEW YORK.

TEXT: THE DOW JONES INDUSTRIAL AVERAGE CLOSED AT EIGHTY ONE HUNDRED UP 201 POINTS, OR ABOUT TWO AND ONE-HALF PERCENT. THE STANDARD AND POOR'S 500 INDEX CLOSED AT A RECORD HIGH 1001 UP 21.

ANALYSTS SAY THERE WERE THREE MAIN REASONS FOR THE RALLY. ONE WAS THE STRONG REBOUND IN ASIAN STOCK MARKETS, A REBOUND WHICH SPILLED INTO EUROPE AND ON TO NEW YORK. SECOND, MANY TRADERS NOW BELIEVE NOT MUCH WILL COME OF THE LATEST SCANDAL ALLEGATIONS AGAINST PRESIDENT CLINTON. AND FINALLY, THERE WAS GENUINE EUPHORIA OVER THE PROPOSED MERGER OF GLAXO WELLCOME AND SMITHKLINE BEECHAM, TWO BRITISH-BASED DRUG COMPANIES. THAT COMBINATION -- IN A DEAL WORTH ALMOST 70 BILLION DOLLARS -- WOULD CREATE THE LARGEST PHARMACEUTICAL COMPANY IN THE WORLD. THE PRICES OF OTHER DRUG COMPANIES SOARED IN THE BELIEF THERE WILL BE FURTHER MERGERS AND ACQUISITIONS.

GOVERNORS OF THE U-S CENTRAL BANK BEGIN A TWO-DAY MEETING TUESDAY. BUT ANALYSTS ARE ALMOST UNANIMOUS IN SAYING THE CENTRAL BANK WILL LEAVE SHORT-TERM INTEREST RATES UNCHANGED.

THE GOVERNMENT REPORTED CONSTRUCTION SPENDING ROSE BY ONE-TENTH OF ONE PERCENT IN DECEMBER, ALTHOUGH SPENDING ON RESIDENTIAL CONSTRUCTION SOARED BY ONE POINT FOUR PERCENT.

THE BRISTOL HOTEL COMPANY HAS REACHED AGREEMENT TO BUY 20 HOTELS IN THE AMERICAN MIDDLE WEST REGION FOR 100 MILLION DOLLARS. THE ACQUISITIONS WILL RAISE TO 121 THE NUMBER OF HOTELS THAT BRISTOL OWNS IN THE UNITED STATES AND CANADA.

THE COMPAQ COMPUTER COMPANY HAS ANNOUNCED PRICES CUTS OF UP TO 18 PERCENT ON DESKTOP BUSINESS COMPUTERS. THE COMPANY CITED MANUFACTURING EFFICIENCIES AND A REDUCTION IN COMPONENT COSTS.(SIGNED) NEB/NY/BA/LSF/PT
02-Feb-98 4:49 PM EST (2149 UTC)
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Source: Voice of America

[07] TURKEY / IRAQ (L ONLY) BY AMBERIN ZAMAN (ANKARA)

INTRO: TURKISH FOREIGN MINISTER ISMAIL CEM SAYS HE WILL TRAVEL TO BAGHDAD THIS COMING WEEKEND IN AN EFFORT TO HELP DEFUSE THE WEAPONS INSPECTION CRISIS. BUT AS AMBERIN ZAMAN REPORTS FROM ANKARA, SENIOR U-S OFFICIALS SAY THEY ARE SKEPTICAL ABOUT THE OUTCOME OF THE TURKISH FOREIGN MINISTER'S TRIP TO IRAQ.

TEXT: MR. CEM SPOKE TO REPORTERS AFTER MEETING WITH U-S ASSISTANT SECRETARY OF STATE MARC GROSSMAN AND THE VICE CHAIRMAN OF THE U-S JOINT CHIEFS OF STAFF, AIR FORCE GENERAL JOSEPH RALSTON. THE TURKISH OFFICIAL SAID SAID HIS AIM IS TO GET IRAQ TO COMPLY WITH U-N SECURITY COUNCIL DECISIONS. HE SAID IRAQ HAS WELCOMED HIS PROPOSED TRIP.

MR. CEM SAID TURKEY DOES NOT WANT ANOTHER WAR ON ITS BORDERS AND THAT REGIONAL ARAB STATES SHOULD JOIN HANDS WITH ANKARA IN SECURING A DIPLOMATIC SOLUTION TO THE CRISIS. BUT OFFICIALS SAID ARAB NATIONS, WHO ARE UPSET ABOUT TURKEY'S DEEPENING MILITARY TIES WITH ISRAEL, HAVE NOT RESPONDED TO MR. CEM'S CALL.

U-S ASSISTANT SECRETARY OF STATE GROSSMAN TOLD THE NEWS CONFERENCE THAT THE UNITED STATES WELCOMES A DIPLOMATIC SOLUTION, BUT GIVEN IRAQ'S PAST BEHAVIOR, CHANCES OF A PEACEFUL END TO THE CRISIS IS NOT LIKELY.

MR GROSSMAN SAID THE UNITED STATES HAS NOT MADE ANY NEW REQUEST TO USE TURKISH BASES IN THE SOUTHERN PROVINCE OF ADANA IN THE EVENT IT CARRIES OUT AIR STRIKES AGAINST IRAQI TARGETS.

THE TURKISH GOVERNMENT SAID EARLIER IT WOULD NOT ALLOW THE USE OF ITS BASES AGAINST IRAQ. THE INCIRLIK AIR BASE IN ADANA WAS USED BY COALITION FORCES DURING THE GULF WAR TO CARRY OUT BOMBING RAIDS AGAINST BAGHDAD.

TURKEY SAYS IT HAS LOST AN ESTIMATED 35-BILLION DOLLARS AS A RESULT OF THE LOSS OF TRADE WITH IRAQ WHICH HAS REMAINED FROZEN BECAUSE OF U-N SANCTIONS SINCE THE END OF THE GULF WAR. (SIGNED)
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02-Feb-98 10:36 AM EST (1536 UTC)
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Source: Voice of America

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