Voice of America, 98-04-06

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

CONTENTS

[01] TURKEY / GREECE (L ONLY) BY ANTHEE CARASAVA (ATHENS)

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

[03] KOSOVO / SERBIA (S ONLY) BY ART CHIMES (PRAGUE)

[04] KOSOVO COLONY BY ART CHIMES (PRISTINA)

[05] MACEDONIA/COHEN (L) BY JIM RANDLE (ATLANTA)

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

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

[01] TURKEY / GREECE (L ONLY) BY ANTHEE CARASAVA (ATHENS)

INTRO: THE GREEK AND TURKISH MILITARY CHIEFS OF STAFF MET MONDAY NEAR ATHENS. ANTHEE CARASSAVA REPORTS THIS IS THE FIRST EVER VISIT TO GREECE BY TURKEY'S TOP MILITARY OFFICER.

TEXT: LOCAL COMMENTATORS SAY THE MEETING BETWEEN TURKISH GENERAL HAKKIS KARADAYI AND GREEK GENERAL ATHANASSIOS DROGARRIS WAS MORE SHOW THAN SUBSTANCE THE TWO MEN FAILED TO RESOLVE ANY OF THE LONG-STANDING DISPUTES BETWEEN THEIR NATIONS. BUT THEY SHOOK HANDS ON THE NEED TO SOLVE THEM.

THE TWO GENERALS MET UNDER A BRIGHT SUN AT A SEASIDE RESORT SOUTH OF ATHENS. BOTH WERE ATTENDING A MEETING OF MILITARY OFFICIALS FROM THE 18 NATIONS IN THE WESTERN EUROPEAN UNION -- THE MILITARY DEFENSE ARM OF THE EUROPEAN UNION.

GENERAL KARADAYI IS THE FIRST TURKISH MILITARY CHIEF OF STAFF TO VISIT GREECE. HE DESCRIBED THE MEETING AS POSITIVE AND HINTED AT THE START OF A MILITARY DIALOGUE BETWEEN ATHENS AND ANKARA.

THE GREEK CHIEF OF STAFF WOULD NOT SAY WHERE AND HOW SOON FOLLOW-UP TALKS WOULD OCCUR. BUT HE INDICATED THE TWO MEN HOPE TO MEET WHEN THEY BOTH ATTEND UPCOMING MILITARY CONFERENCES.

NEITHER OF THE TWO MILITARY OFFICIALS ELABORATED ON THE CONTENTS OF THEIR TALKS. AND NEITHER SAID IF GREECE AND TURKEY WOULD RESUME A BAN ON MILITARY EXERCISES DURING THE SUMMER TOURIST SEASON.

GREECE AND TURKEY ARE BOTH MEMBERS OF NATO. BUT THEY HAVE BEEN AT ODDS FOR YEARS, SQUABBLING OVER A HOST OF ISSUES RANGING FROM AIRSPACE AND SEA RIGHTS IN THE AEGEAN SEA TO THE 24-YEAR DIVISION OF CYPRUS.

NATO SECRETARY GENERAL JAVIER SOLANA HAS BEEN WORKING WITH BOTH COUNTRIES TO ADOPT A SERIES OF CONFIDENCE-BUILDING MEASURES IN AN EFFORT TO EASE TENSION AND AVERT THE POSSIBILITY OF A CRISIS ERUPTING IN SOUTHEASTERN EUROPE.

GREECE AND TURKEY CAME CLOSE TO WAR TWO YEARS AGO OVER CONFLICTING CLAIMS TO A GROUP OF SMALL BARREN ISLANDS INHABITED ONLY BY GOATS, RABBITS, AND SHEEP. SINCE THEN, RELATIONS HAVE SEE-SAWED DANGEROUSLY, WITH GREECE ACCUSING TURKEY OF SENDING TURKISH FIGHTER JETS TO HARASS GREEK MILITARY PLANES AND VIOLATE GREEK AIRSPACE.

GREEK DIPLOMATS CONCEDE THE MILITARY HEADS OF BOTH GREECE AND TURKEY ARE THE KEY TO PAVING THE WAY FOR A CLIMATE OF RAPPROCHEMENT BETWEEN THE LONG-TIME FOES.

THE WARM HANDSHAKE IN ATHENS, THEY SAY, PROVIDES HOPE, PROVIDED, AS THEY PUT IT. BOTH COUNTRIES ARE DETERMINED TO TAKE THEIR MEETINGS BEYOND SHOW AND INTO SUBSTANCE. (SIGNED)
NEB/AC/JWH
06-Apr-98 11:37 AM EDT (1537 UTC)
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Source: Voice of America

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

INTRO: THE MAJOR STOCK MARKETS OF WESTERN EUROPE ALL POSTED RECORD HIGHS WHEN TRADING CLOSED ON MONDAY. PAUL FRANCUCH REPORTS THE FIGURES FROM OUR LONDON BUREAU.

TEXT: MARKET ANALYSTS SAY THE POSITIVE RESPONSE TO THE PLANNED MERGER BETWEEN U-S FINANCIAL GIANTS CITICORP AND THE TRAVELERS GROUP HELPED EUROPEAN MARKETS RALLY.

FRANKFURT'S TRADING ON THE "DAX" INDEX CLOSED UP 91-AND-A-HALF POINTS -- A DAILY GAIN OF ONE-AND-THREE-QUARTERS PERCENT. NEARLY AS IMPRESSIVE WERE ADVANCES ON THE PARIS "CAC 40", WHICH CLOSED UP 54-AND-THREE-QUARTERS POINTS -- AN ADVANCE FOR THE DAY OF ONE-AND-ONE-THIRD PERCENTAGE POINTS. HERE IN LONDON, THE KEY "FINANCIAL TIMES" 100 INDEX CLOSED UP 41-AND-A-HALF POINTS -- A DAILY GAIN OF MORE THAN TWO-THIRDS OF ONE PERCENT.

IN U-S DOLLAR CURRENCY TRADING HERE IN EUROPE, THE BRITISH POUND ADVANCED BY HALF A CENT AND THE DEUTSCHEMARK WAS UP TWO-THIRDS OF A PFENNIGE.

GOLD IN LONDON CLOSED UP THREE DOLLARS, TRADING AT 309-DOLLARS-45 CENTS AN OUNCE. (SIGNED)
NEB/PCF/WFR
06-Apr-98 1:57 PM EDT (1757 UTC)
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Source: Voice of America

[03] KOSOVO / SERBIA (S ONLY) BY ART CHIMES (PRAGUE)

INTRO: IN YUGOSLAVIA'S TROUBLED KOSOVO PROVINCE, ANOTHER ATTEMPT TO OPEN TALKS BETWEEN SERBS AND ALBANIANS (TUESDAY) SEEMS DESTINED TO FAIL. V-O-A CORRESPONDENT ART CHIMES IS FOLLOWING DEVELOPMENTS FROM OUR BUREAU IN PRAGUE.

TEXT: MODERATE ALBANIANS HAVE APPOINTED A NEGOTIATING TEAM FOR TALKS WITH SERBIAN OFFICIALS. BUT THEY SAY THEY WILL NOT MEET A SERB DELEGATION THAT IS DUE TO ARRIVE (MONDAY) IN THE PROVINCIAL CAPITAL, PRISTINA.

THE ALBANIANS CONTINUE TO INSIST THAT THERE MUST BE THIRD-PARTY MEDIATION IN ANY TALKS WITH SERBIA. THE SERBS SAY THE FUTURE OF KOSOVO -- WHICH IS PART OF SERBIA -- IS AN INTERNAL MATTER, WITH NO NEED FOR AN OUTSIDE MEDIATOR.

SERBIA IS PREPARING TO HOLD A REFERENDUM LATER THIS MONTH ON WHETHER VOTERS FAVOR MEDIATION ON THE KOSOVO ISSUE. THE VOTERS ARE EXPECTED TO EASILY ENDORSE THE SERBIAN GOVERNMENT'S POSITION AGAINST MEDIATION.

IN ANOTHER DEVELOPMENT, THE BODIES OF SIX ETHNIC ALBANIANS HAVE BEEN FOUND IN A VILLAGE (ORAHOVAC) SOUTHWEST OF PRISTINA. NEWS REPORTS QUOTE SERB SOURCES AS SAYING THE VICTIMS SYMPATHIZED WITH THE SERBS AND WERE KILLED BY THEIR FELLOW ALBANIANS. (SIGNED)
NEB/ART/JWH/WFR
06-Apr-98 11:37 AM EDT (1537 UTC)
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Source: Voice of America

[04] KOSOVO COLONY BY ART CHIMES (PRISTINA)

INTRO: YUGOSLAVIA'S KOSOVO PROVINCE IS THE POOREST PART OF SERBIA, WHERE FARMERS TEND SMALL PLOTS OF LAND AND WHERE CITY DWELLERS ARE LUCKY TO FIND A POORLY-PAID JOB. IT'S ALSO WHERE MANY -- ESPECIALLY THE 90-PERCENT ALBANIAN MAJORITY -- DEPEND ON MONEY FROM RELATIVES ABROAD. BUT AS WE HEAR FROM V-O-A CORRESPONDENT ART CHIMES, KOSOVO'S CURRENT ECONOMIC PROBLEMS FAIL TO REFLECT ITS POTENTIAL.

TEXT: THE CONFLICT OVER KOSOVO SEEMS TO BE BOTH POLITICAL AND EMOTIONAL. YUGOSLAVIA NO LONGER INCLUDES SLOVENIA, CROATIA, BOSNIA OR MACEDONIA. BELGRADE DOESN'T WANT TO LOSE ANY MORE LAND, ESPECIALLY IN KOSOVO, A PLACE SOMETIMES CALLED "OLD SERBIA." MANY SERBS REGARD IT AS THEIR SPIRITUAL HEARTLAND. NATIONALIST LEADERS, INCLUDING YUGOSLAV FEDERAL PRESIDENT SLOBODAN MILOSEVIC, RALLY SUPPORTERS AROUND THE REGION'S SACRED MONASTERIES AND OTHER HISTORIC SITES.

ETHNIC ALBANIANS IN KOSOVO, HOWEVER, TAKE A MORE CYNICAL VIEW. MANY SAY THE SERBS ARE REALLY AFTER KOSOVO'S SUBSTANTIAL MINERAL WEALTH.

BLERIM SHALA, THE EDITOR OF THE ALBANIAN POLITICAL (WEEKLY) MAGAZINE "ZERI," SAYS SERBIAN OFFICIALS PRETEND TO BE INTERESTED IN THE MONASTERIES WHILE THEY REALLY HAVE THEIR EYES ON THE MINERAL WEALTH, INCLUDING KOSOVO'S PRINCIPAL MINING COMPLEX, AT TREPCA (TREP-CHA).

IT IS OBVIOUS THAT KOSOVO IS VERY IMPORTANT ECONOMICALLY FOR SERBIA, AND THAT THE RICHEST MONASTERY IN KOSOVO IS TREPCA, THE MOST IMPORTANT MONASTERY IN KOSOVO IS TREPCA.

KOSOVO'S RESERVES INCLUDE BILLIONS OF TONS OF COAL, SUITABLE FOR THE TWO LARGE ELECTRIC GENERATING PLANTS JUST OUTSIDE PRISTINA. THE REGION COULD BE A MAJOR EXPORTER OF ELECTRIC POWER TO ITS BALKAN NEIGHBORS. KOSOVO ALSO SITS ON SUBSTANTIAL QUANTITIES OF LEAD AND ZINC -- PLUS CHROMIUM, NICKEL AND OTHER IMPORTANT METALS AND MINERALS. AT TREPCA, PRODUCTION HAS BEEN DOWN SUBSTANTIALLY IN RECENT YEARS. THE HEAD OF THE SERBIAN-RUN CHAMBER OF ECONOMY, NEBOJSHA BACKOVIC (NEH-BOY-SHA BAH-TSKO-VITCH) SAYS ECONOMIC SANCTIONS IMPOSED ON YUGOSLAVIA ARE TO BLAME.

ALBANIANS SAY THERE'S ANOTHER REASON PRODUCTION IS DOWN. OVER THE PAST DECADE MOST ALBANIANS WERE FIRED FROM THEIR JOBS AT STATE ENTERPRISES AND GOVERNMENT OFFICES, TAKING WITH THEM VALUABLE SKILLS AND KNOWLEDGE.

THIS IS A CLASSIC COLONIAL ECONOMY, HE SAYS, DESPITE THE FACT THAT WE'RE IN EUROPE. //END OPT//

SOME SERBS ARE STARTING TO SAY OUT LOUD THAT KOSOVO'S IMPORTANCE IS IN ITS UNDERGROUND WEALTH, //OPT// THOUGH POLITICIANS IN BELGRADE STILL FIND IT MORE EFFECTIVE TO RALLY THEIR SUPPORTERS AROUND AN EMOTIONAL APPEAL CENTERED ON RELIGIOUS SITES AND THE BATTLE OF KOSOVO -- A LANDMARK EPISODE OF SERB HISTORY WHICH TOOK PLACE SIX CENTURIES AGO. //END OPT// FOR THE ALBANIANS, OF COURSE, KOSOVO'S ECONOMIC POTENTIAL IS ONE MORE REASON WHY THEY SAY THEY SHOULD BE IN CHARGE OF THEIR OWN DESTINY.

BUT THE ECONOMIC ISSUE ADDS ANOTHER DIMENSION TO THE ALREADY-DIFFICULT QUESTION OF WHAT KOSOVO'S FUTURE SHOULD LOOK LIKE. MILAN PROTIC (PRO-TICH), WHO HEADS THE CENTER FOR SERBIAN STUDIES -- AN INDEPENDENT THINK TANK IN BELGRADE -- SAYS THAT AT SOME POINT THE IMPORTANT STATE-OWNED ENTERPRISES IN KOSOVO SHOULD BE HANDED BACK TO THEIR PRE-COMMUNISM OWNERS. //OPT// FOR EXAMPLE, THE TREPCA MINE, HE SAYS, WAS JOINTLY OWNED BY SERBIAN AND BRITISH COMPANIES. //END OPT// HE SAYS NATIONALISM IS CLOUDING THE ISSUE.

NO MATTER WHAT HAPPENS, ONE WHO HAS BEEN DEPRIVED BY FORCE FROM HIS PROPERTY RIGHTS SHOULD BE, SOMEHOW, REIMBURSED FOR HIS LOSS, RIGHT?

AS WITH THEIR DIFFERENCES ON ISSUES OF POLITICS AND HISTORY, KOSOVO'S ETHNIC SERBS AND ALBANIANS HAVE YET ANOTHER TROUBLING AREA OF DISPUTE IN THE ECONOMY. THEY FACE GREAT CHALLENGE AHEAD, IF THEY TRY TO SORT OUT THE ECONOMIC ISSUES AND PERSPECTIVES THAT DIVIDE THE PEOPLE OF KOSOVO. (SIGNED)
NEB/ART/PCF
06-Apr-98 12:37 PM EDT (1637 UTC)
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Source: Voice of America

[05] MACEDONIA/COHEN (L) BY JIM RANDLE (ATLANTA)

INTRO: DEFENSE SECRETARY WILLIAM COHEN SAYS FOREIGN TROOPS, INCLUDING AMERICANS, SHOULD STAY IN MACEDONIA PAST AN AUGUST DEPARTURE DEADLINE. V-O-A'S JIM RANDLE REPORTS, MR. COHEN'S COMMENTS FOLLOW A PENTAGON MEETING WITH THE MINISTER OF DEFENSE OF THAT FORMER YUGOSLAV REPUBLIC.

TEXT: MR. COHEN AND MACEDONIAN DEFENSE MINISTER LAZAR KITANOSKI SAY STABILITY IN MACEDONIA IS A MAJOR CONCERN IN LIGHT OF THE CONFLICT IN NEIGHBORING KOSOVO. RECENT CLASHES THERE BETWEEN SERB POLICE AND ETHNIC ALBANIANS HAVE KILLED MORE THAN 80 PEOPLE. MR. KITANOSKI, SPEAKING THROUGH A TRANSLATOR, SAID HIS GOVERNMENT MUST DO ITS BEST TO KEEP THE CONFLICT FROM SPILLING ACROSS BORDERS.

BECAUSE IF THIS IS NOT PREVENTED IT COULD CAUSE A DOMINO EFFECT IN THE ENTIRE BALKANS.

BOTH OFFICIALS SAY THE CURRENT SEVEN-HUNDRED MEMBER U-N SPONSORED FORCE IS HELPING KEEP THE PEACE IN MACEDONIA. HALF OF THOSE TROOPS ARE AMERICANS. BUT THE U-N MANDATE EXPIRES AT THE END OF AUGUST. MR. COHEN SAYS WASHINGTON FAVORS SOME KIND OF FOLLOW-ON FORCE, ABOUT THE SAME SIZE AS THE CURRENT ONE. BUT HE SAID BEFORE THERE CAN BE A DECISION ON THE TYPE, NUMBER, ARMS, AND NATIONALITY OF THOSE SOLDIERS, THERE WILL HAVE TO CONSULTATIONS WITH A NUMBER OF GOVERNMENTS.

HE ALSO SAID BALKAN NATIONS ARE MOVING TOWARD KEEPING THE PEACE IN THEIR OWN AREA.

A MULTINATIONAL BALKAN PEACEKEEPING BATTALION IS BEGINNING TO TAKE SHAPE. THERE HAS ALSO BEEN A CIVIL MILITARY PLANNING CONFERENCE AND THESE ARE PROMISING BUILDING BLOCKS FOR STABILITY.

MR COHEN CALLS EFFORTS TO CALM TENSIONS IN KOSOVO THE KEY TO REGIONAL STABILITY. HE SAYS THE U-N SECURITY COUNCIL IS THREATENING TO BLOCK ARMS SALES TO SERBIA IN RESPONSE TO WHAT HE CALLED " ITS REPRESSIVE RULE IN KOSOVO." HE WENT ON TO WARN THAT "OTHER ACTIONS WILL FOLLOW IF SERBIA CONTINUES TO FAVOR VIOLENCE OVER REASON." (SIGNED).
NEB/JR/WDC/WFR
06-Apr-98 1:39 PM EDT (1739 UTC)
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Source: Voice of America

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

INTRO: THE PERILOUS STATE OF THE JAPANESE ECONOMY IS JUST ONE OF A WIDE RANGE OF TOPICS U-S NEWSPAPERS ARE COMMENTING ON AS THE WORK WEEK BEGINS. OTHER TOPICS INCLUDE SOME POSITIVE CHANGES IN ARMENIA; U-S POLICY TOWARD HUMAN RIGHTS IN CHINA; CAMBODIA'S KHMER ROUGE FADING INTO HISTORY; AND TROUBLE COMING TO COMPUTERS WITH THE YEAR 2000. NOW, HERE IS ______________________ WITH A CLOSER LOOK AND SOME QUOTES IN TODAY'S EDITORIAL DIGEST.

TEXT: THERE HAVE BEEN DIRE WARNINGS FROM PRESIDENT CLINTON AND THE CHAIRMAN OF JAPAN'S HUGE SONY CORPORATION ABOUT THE STATE OF THE JAPANESE ECONOMY, BUT "NEWSDAY" SAYS A NEW DEVELOPMENT MAY CHANGE THINGS FOR THE BETTER. THE PAPER EXTOLS THE VIRTUES OF THE SO-CALLED 'BIG BANG', THE DEREGULATING OF WALL STREET, AND THE FACT THAT ALMOST "43 PERCENT OF AMERICANS NOW HOLD STOCK; ... ABOUT THE SAME [NUMBER] AS THE NUMBER OF PEOPLE WHO HOLD JOBS."

VOICE: .... NOW JAPAN HAS INITIATED ITS OWN RED-TAPE-CUTTING BIG BANG, [DEREGULATION] AND IF ALL THE MONEY THE JAPANESE HOLD IN LOW-INTEREST SAVINGS ACCOUNTS -- THE EQUIVALENT OF NINE-TRILLION-DOLLARS, MORE THAN A QUARTER OF THE GLOBAL TOTAL -- IS UNLEASHED INTO MORE PRODUCTIVE INVESTMENTS, THE BENEFITS COULD BE FELT NOT ONLY AT HOME BUT AROUND THE WORLD.... THE JAPANESE ARE WAKING UP TO THE FACT THAT HAVING A FEW SUPER COMPETITIVE EXPORT COMPANIES RUNNING UP FOREIGN-TRADE SURPLUSES IS NO SUBSTITUTE FOR A REAL FREE-MARKET FINANCIAL SYSTEM.

TEXT: AROUND THE WORLD, TODAY'S "WASHINGTON POST" IS PLEASED AT SOME POSITIVE CHANGES IN ARMENIA.

VOICE: ONE-AND-A-HALF YEARS AGO ARMENIA'S REPUTATION AS A FLEDGLING DEMOCRACY TOOK A HIT [WAS DAMAGED] WHEN ITS INCUMBENT PRESIDENT, LEVON TER-PETROSSIAN, HELD ONTO POWER THROUGH A REELECTION PROCESS THAT WAS WIDELY JUDGED TO BE FRAUDULENT.... NOW ARMENIA HAS REPAIRED SOME OF THE DAMAGE BY STAGING AN ELECTION THAT, WHILE FAR FROM PERFECT, REPRESENTS A MAJOR IMPROVEMENT OVER THE 1996 VOTE -- AND OVER THE LEVEL OF DEMOCRACY IN MANY OTHER POST-SOVIET REPUBLICS. ..... OBSERVERS ... SAID THAT IN TERMS OF EQUAL ACCESS TO MEDIA, REDUCED PRESSURE ON VOTING SOLDIERS AND UNFAIR USE OF STATE RESOURCES, THIS ELECTION WAS CLEANER THAN THE LAST. THE IRREGULARITIES UNCOVERED, THE OBSERVERS SAID, WOULD NOT HAVE PRODUCED A DIFFERENT RESULT.

TEXT: TODAY'S "NEW YORK TIMES" HAS RETURNED TO THE TOPIC OF HUMAN RIGHTS IN CHINA AND HOW AMERICA IS DEALING WITH IT.

VOICE: BY DROPPING ITS ANNUAL SPONSORSHIP OF A RESOLUTION CONDEMNING CHINA AT THE UNITED NATIONS HUMAN RIGHTS COMMISSION, NOW MEETING IN GENEVA, THE CLINTON ADMINISTRATION ACKNOWLEDGES WHAT HAS LONG BEEN OBVIOUS. WASHINGTON NO LONGER FAVORS PUBLIC CONDEMNATIONS OF CHINA'S SEVERE HUMAN RIGHTS ABUSES, BELIEVING THAT SUCH CRITICISM DAMAGES BROADER DIPLOMATIC AND COMMERCIAL RELATIONS BETWEEN BEIJING AND WASHINGTON. HUMAN RIGHTS ARE A BASIC AMERICAN INTEREST, AND THE ADMINISTRATION SHOULD NOT FLINCH FROM PROMOTING THEM. //// OPT /// .... THE CHINA MR. CLINTON WILL VISIT IN JUNE IS A COUNTRY IN INTELLECTUAL FLUX AND MORE OPEN THAN EVER TO OUTSIDE IDEAS. MR. CLINTON SHOULD TAKE ADVANTAGE OF THE OPPORTUNITY TO TALK DIRECTLY ABOUT THE RIGHTS AND FREEDOMS THAT AMERICANS HOLD MOST IMPORTANT, JUST AS RONALD REAGAN OPENLY CHALLENGED THE SOVIET UNION'S STIFLING IDEOLOGY DURING HIS 1988 VISIT TO MOSCOW. /// END OPT ///

TEXT: STILL ON ASIAN TOPICS, "THE LOS ANGELES TIMES" THIS MONDAY APPLAUDS THE DECLINE OF CAMBODIA'S INFAMOUS COMMUNIST FORCE AND ITS ONE-TIME LEADER POL POT.

VOICE: /// OPT /// THE KHMER ROUGE, POL POT'S MURDEROUS MOVEMENT OF THE 1970S AND 1980S, IS NOW JUST A SHADOW, RIDDLED BY DEFECTIONS AND COMBAT LOSSES. THE MAN WHO TERRORIZED CAMBODIA IS SAID BY THAI REPORTERS TO BE FRAIL AND BARELY ABLE TO SPEAK, STILL IN THE CUSTODY OF HIS FORMER FOLLOWERS.... TIMES CORRESPONDENT DAVID LAMB, REPORTING FROM PHNOM PENH LAST WEEK, SAID THE REST OF THE ARMY THAT ONCE RULED CAMBODIA IS DOWN TO A FEW HUNDRED, LED BY A ONE-LEGGED COMMANDER, TA MOK, 'THE BUTCHER.' /// END OPT /// WITH THE ARMY OF CAMBODIA'S NEW LEADER, HUN SEN, AT ITS HEELS AND THE THAI ARMY STRUGGLING TO SEEP THIS FIGHT ON THE CAMBODIAN SIDE OF THE FRONTIER, THE GAME IS CLEARLY UP FOR THE KHMER ROUGE AND THE OLD MAN WHOSE REIGN SAW AN ESTIMATED ONE MILLION PEOPLE IN A ONCE PEACEFUL LAND DIE FOR AN IMPOSSIBLE COMMUNIST IDEA....

TEXT: DOMESTICALLY, THERE IS GROWING CONCERN ABOUT THE FAILURE OF MANY COMPUTERS TO RECOGNIZE THE YEAR 2000, COMING UP WITH THE NEW MILLENNIUM, PROMPTING THIS COMMENT FROM "USA TODAY."

VOICE: TUESDAY, THE GARTNERGROUP, A WORLD WIDE BUSINESS ADVISORY AND RESEARCH FIRM, WILL REPORT THAT HALF OF ALL BUSINESSES AND GOVERNMENT AGENCIES WON'T BE [READY]. NOT WHEN IT COMES TO DEALING WITH THE SO-CALLED MILLENNIUM BUG. THE BUG IS THE MOTHER (MOST SIGNIFICANT) OF ALL COMPUTER GLITCHES. BECAUSE OLD-TIME PROGRAMMERS SAVED SPACE ON COMPUTER DRIVES BY USING TWO DIGITS FOR YEARS INSTEAD OF FOUR, MANY SYSTEMS WILL READ THE ARRIVAL OF TWO-THOUSAND AS 1900. THAT SEEMINGLY TRIVIAL PROBLEM WILL COST UP TO 600-BILLION DOLLARS TO FIX, THE GARTNERGROUP ESTIMATES. BUT IT SPELLS BIGGER TROUBLE IF IT ISN'T. CRASHING COMPUTERS COULD FOUL UP AIR TRAFFIC, COMMUNICATIONS, BUSINESS DELIVERIES, CREDIT CARD SALES, FINANCIAL ACCOUNTS, BENEFIT PAYMENTS AND TAX REFUNDS, ELECTRICITY AND EVEN SOME MEDICAL TREATMENTS. ..... AND [ZERO] HOUR IS ALMOST HERE, READY OR NOT.

TEXT: TODAY'S "WALL STREET JOURNAL" IS DECRYING THE CULT STATUS OF TERRORIST BOMBERS, SUCH AS HAMAS MASTER BOMBMAKER MOHIYEDINE SHARIF, WHO WAS MYSTERIOUSLY KILLED RECENTLY IN THE WEST BANK, AND IN WHOSE HONOR THOUSANDS OF PALESTINIANS MARCHED LAST FRIDAY. THEY ARE NOT APPROPRIATE HEROES, THE PAPER SAYS.

VOICE: IT IS, AT THE LEAST, A REMARKABLY UNUSUAL CULTURE THAT REVERES MEN WHO MAKE BOMBS TO BLOW UP CIVILIANS INDISCRIMINATELY. NOT THAT THIS ETHOS IS PECULIAR TO CONTEMPORARY PALESTINIAN CULTURE; LAST WEEK POLICE IN DUBLIN, IRELAND, DETAINED FOUR MEN BELIEVED TO BE RESPONSIBLE FOR A BMW BOOKED TO BOARD A FERRY BOAT, ALONG WITH A 980-POUND CAR BOMB. AND OF COURSE, SOMEONE THOUGHT THAT BLOWING UP THE WORLD TRADE CENTER TOWERS WOULD BE A 'POLITICAL STATEMENT.'..... EVENTS SUCH AS MEMORIAL MARCHES FOR BOMB-MAKERS OFTEN GIVE THE IMPRESSION THAT THE PEACE PROCESS NEVER MOVES. IN FACT, 98-PERCENT OF WEST BANK PALESTINIANS FOR THE FIRST TIME EVER FIND THEMSELVES LIVING UNDER SOME FORM OF SELF-RULE RATHER THAN ISRAELI, JORDANIAN, OR, IN THE OLD DAYS, BRITISH OR TURKISH ADMINISTRATION. IN THE WORLD OF NON-VIOLENT POLITICS, THIS COUNTS AS PROGRESS.

TEXT: LASTLY, "THE WASHINGTON TIMES" LOOKS AT THE RECENT AGREEMENT BY WHICH 11 MEMBERS OF THE EUROPEAN UNION MANAGED TO QUALIFY FOR CONVERTING THEIR NATIONAL CURRENCIES INTO THE LONG-SOUGHT AFTER "EURO" OR EUROPEAN SINGLE CURRENCY. HOWEVER, "THE TIMES" QUESTIONS THE EFFICACY OF THIS LONG-PLANNED FINANCIAL ALIGNMENT.

VOICE: THE ATTRIBUTES THAT MAKE A SINGLE CURRENCY SO APPROPRIATE FOR THE UNITED STATES ARE LACKING IN EUROPE. IN THE UNITED STATES WAGES AND PRICES ARE RELATIVELY FLEXIBLE WITHIN THE 50 STATES. AMERICANS, WHO SHARE A COMMON LANGUAGE AND CULTURE, MOVE FREELY AND WILLINGLY FROM ONE STATE TO ANOTHER IN SEARCH OF ... JOBS. WHILE EACH STATE HAS ITS OWN BUDGET, FEDERAL BUDGET EXPENDITURES GREATLY EXCEED THE COLLECTIVE OUTLAYS OF THE STATES.... THE ONE MECHANISM THAT EUROPEAN NATIONS HAD TO CUSHION REAL SHOCKS TO DISPARATE AREAS WAS THE EXCHANGE RATE. AND NOW EUROPEAN LEADERS SEEM INTENT ON ELIMINATING THAT OPTION IN THE HONORABLE -- BUT MISGUIDED -- PURSUIT OF POLITICAL UNITY THAT HARDLY SEEMS LIKELY TO BE FOUND AT THE END OF THE SINGLE-CURRENCY TUNNEL.

TEXT: WITH THAT, WE CONCLUDE THIS SAMPLING OF TOPICS TO BE FOUND AMONG MONDAY'S EDITORIALS IN THE U-S PRESS.
NEB/ANG/MMK
06-Apr-98 10:45 AM EDT (1445 UTC)
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Source: Voice of America

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

INTRO: STOCK PRICES IN THE UNITED STATES WERE MIXED TODAY (MONDAY) BUT HISTORY WAS MADE ON WALL STREET. VOA CORRESPONDENT BRECK ARDERY REPORTS FROM NEW YORK.

TEXT: THE DOW JONES INDUSTRIAL AVERAGE CLOSED AT NINE THOUSAND 33, UP 49 POINTS. IT WAS THE FIRST TIME IN HISTORY THAT THE INDUSTRIAL AVERAGE HAS CLOSED ABOVE NINE THOUSAND. THE STANDARD AND POOR'S 500 INDEX CLOSED AT ELEVEN HUNDRED 21, DOWN ONE POINT.

ANALYSTS SAY THE MOMENTUM WAS IN LARGE STOCKS, ESPECIALLY BANKS AND FINANCIAL SERVICES COMPANIES, AND THAT THE OVERALL MARKET WAS RELATIVELY WEAK.

THE LARGEST CORPORATE MERGER IN HISTORY WAS ANNOUNCED. CITICORP, THE SECOND-LARGEST BANK HOLDING COMPANY IN THE UNITED STATES, WILL COMBINE WITH THE TRAVELERS GROUP, THE HUGE INSURANCE AND FINANCIAL SERVICES FIRM. THE DEAL IS WORTH 70 BILLION DOLLARS.

THE NEWS SPARKED A SURGE IN THE STOCKS OF MANY OTHER BANKS, INSURANCE AND BROKERAGE COMPANIES.

ARNOLD KAUFMAN OF THE STANDARD AND POOR'S RESEARCH COMPANY, SAYS THE CITICORP-TRAVELERS DEAL MAY MEAN MORE HUGE MERGERS ARE AHEAD.

THE THOUGHT IS THAT IF THESE TWO GIANT FINANCIAL COMPANIES CAN GET TOGETHER, OTHER AMERICAN CORPORATIONS CAN DO THE SAME AND THAT WOULD BE A POSITIVE FOR STOCKS IN GENERAL.

IT WOULD NOT BE A FULL-SCALE MERGER, BUT U-S AIRWAYS IS REPORTEDLY IN TALKS WITH BOTH AMERICAN AND UNITED AIRLINES ON A POSSIBLE STRATEGIC ALLIANCE. THE "WALL STREET JOURNAL" SAYS THE TALKS BEGAN SEVERAL WEEKS AGO AFTER NORTHWEST AND CONTINENTAL AIRLINES ANNOUNCED AN ALLIANCE.

THE ALCOA ALUMINUM COMPANY REPORTED A 32 PERCENT INCREASE IN FIRST QUARTER PROFITS, BEATING WALL STREET EXPECTATIONS.

THE U-S SUPREME COURT HAS DENIED AN APPEAL BY THE TOBACCO INDUSTRY TO PREVENT THE RELEASE OF 39 THOUSAND DOCUMENTS WHICH ARE SOUGHT IN CONNECTION WITH A SMOKING LIABILITY LAWSUIT. THE STATE OF MINNESOTA, WHICH IS SUING THE TOBACCO COMPANIES, CLAIMS THE DOCUMENTS WILL SHOW THE INDUSTRY MANIPULATED NICOTINE LEVELS AND COVERED UP THE HEALTH RISKS OF SMOKING.

THE NATIONAL SEMICONDUCTOR COMPANY HAS DEVELOPED A COMPUTER CHIP WHICH COMBINES THE FUNCTIONS OF A DOZEN CHIPS FOUND IN PERSONAL COMPUTERS. THE COMPANY SAYS THE DEVELOPMENT COULD BRING PERSONAL COMPUTER PRICES BELOW 500 DOLLARS. (SIGNED) NEB/NY/BA/LSF/WFR
06-Apr-98 5:00 PM EDT (2100 UTC)
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Source: Voice of America

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