Voice of America, 98-04-20

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

CONTENTS

[01] COHEN / GREECE OVERNIGHTER (S ONLY) BY JIM RANDLE (JERUSALEM)

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

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

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

[05] YUGO WAR CRIMES (L ONLY) BY GILLIAN SHARPE (THE HAGUE)

[01] COHEN / GREECE OVERNIGHTER (S ONLY) BY JIM RANDLE (JERUSALEM)

INTRO: U-S DEFENSE SECRETARY WILLIAM COHEN HEADS FOR ATHENS TUESDAY FOR TALKS ON GREEK DEFENSE NEEDS AND TENSIONS WITH TURKEY. V-O-A'S JIM RANDLE REPORTS FROM JERUSALEM.

TEXT: MR. COHEN SAYS THE OFTEN-SOUR RELATIONS BETWEEN GREECE AND TURKEY ARE GETTING BETTER RIGHT NOW. BUT TURKISH OFFICIALS HAVE SAID THEY WOULD DO WHATEVER IT TAKES TO REMOVE SOME NEW, ADVANCED WEAPONS ORDERED BY THE GREEK-LED GOVERNMENT ON THE DISPUTED ISLAND OF CYPRUS.

GREEK CYPRIOTS HAVE PAID FOR RUSSIAN-MADE S-300 MISSILES, WHICH ARE SAID TO BE CAPABLE OF DESTROYING AIRPLANES 150 KILOMETERS AWAY -- FAR ENOUGH TO REACH TURKISH AIRSPACE.

IN RECENT TALKS WITH TURKEY'S DEFENSE MINISTER, MR. COHEN SAID HE WILL TRY TO PERSUADE GREEK CYPRIOTS NOT TO ACCEPT DELIVERY OF THE ANTIAIRCRAFT MISSILES.

THE BRIEF TALKS IN ATHENS FOLLOW MR. COHEN'S MEETINGS IN ISRAEL, EGYPT, JORDAN, AND TURKEY ABOUT THE STALLED MIDDLE EAST PEACE PROCESS AND DEFENSE CONCERNS. (SIGNED)
NEB/JR/JWH/KL
20-Apr-98 3:11 PM EDT (1911 UTC)
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Source: Voice of America

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

INTRO: STOCK PRICES WERE UP IN TRADING MONDAY IN EUROPE. V-O-A'S JACK HUIZENGA HAS THE CLOSING MARKET REPORT FROM LONDON.

TEXT: SHARE PRICES ROSE SHARPLY IN ALL MAJOR EUROPEAN MARKETS, BUT THEY EASED BACK FROM EARLIER GAINS AFTER A SLOW START ON WALL STREET.

THE BIGGEST JUMP WAS IN FRANKFURT, AMID SPECULATION ABOUT GERMAN BANK MERGERS. THE DAX INDEX ENDED THE DAY UP MORE THAN 81-POINTS, MORE THAN ONE-AND-ONE-HALF PERCENT. IN PARIS, THE CAC-40 INDEX ROSE MORE THAN 24-POINTS, ABOUT SIX-TENTHS PERCENT. AND, IN LONDON, THE FOOTSIE 100 INDEX CLOSED UP NEARLY 32-POINTS, JUST MORE THAN ONE-HALF PERCENT.

ON THE LONDON CURRENCY EXCHANGE, THE VALUE OF THE U-S DOLLAR WAS UP AGAINST THE BRITISH POUND AND THE JAPANESE YEN, BUT IT FELL A BIT AGAINST THE GERMAN MARK. (SIGNED)
NEB/JWH/RAE
20-Apr-98 1:46 PM EDT (1746 UTC)
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Source: Voice of America

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

INTRO: AMERICA'S NEWSPAPERS CONTINUE TO COMMENT ON THE RECENT WAVE OF HUGE BANK MERGERS. OTHER TOPICS ON THE MINDS OF EDITORIAL WRITERS INCLUDE: GOOD AND BAD NEWS FROM CHINA; THE SPREADING EFFECTS OF ASIA'S FINANCIAL CRISIS; PRESIDENT CLINTON'S LATIN AMERICAN TRIP; AND MORE ON POL POT'S DEATH. NOW, HERE IS _________________ WITH SOME QUOTES IN TODAY'S EDITORIAL DIGEST.

TEXT: TODAY'S "BOSTON GLOBE" IS EXPRESSING SOME CONCERN ABOUT THE EFFECTS OF THE RECENT SERIES OF BANKING MERGERS IN THE UNITED STATES.

VOICE: THE WAVE OF MERGERS SWEEPING THROUGH THE TOP OF THE NATION'S COMMERCIAL BANKING STRUCTURE INEVITABLY INVOKES FEAR THAT MERE SIZE WILL GIVE THESE FINANCIAL BEHEMOTHS FAR MORE POWER THAN THEY WOULD POSSESS AS SEPARATE PARTS. THERE IS NO QUESTION THAT SIZE DOES ACCORD SOME POWER, BUT IT ALSO MAY BE A MIXED BLESSING, AT LEAST IN TERMS OF RETAIL CUSTOMERS. FURTHERMORE, THE HOPED-FOR FINANCIAL BENEFITS OF THESE MERGERS MAY PROVE HARDER TO ACHIEVE THAN EXPECTED. .... EACH OF THESE MERGERS CARRIES ITS OWN PROBLEMS. NOT LEAST OF THESE IS THE HUMAN ELEMENT AT THE TOP OF EACH ORGANIZATION, WHERE ALMOST INVARIABLY TWO VERY INTENSE, ENTERPRISING EXECUTIVES MUST EITHER SHARE POWER OR SETTLE FOR SECOND PLACE.

TEXT: "THE NEW YORK TIMES" HAS A SLIGHTLY DIFFERENT VIEW, PROTESTING THE AUDACITY OF THE BIGGEST MERGER.

VOICE: IT WAS NERVY OF CITICORP AND TRAVELERS [INSURANCE COMPANY] TO ANNOUNCE THE BIGGEST MERGER IN CORPORATE HISTORY EVEN THOUGH CURRENT FEDERAL LAW WOULD PREVENT THE DEAL FROM BEING CARRIED OUT IN FULL. BOTH INSTITUTIONS EXUDED CONFIDENCE THAT CONGRESS WOULD CHANGE THE DEPRESSION-ERA BANKING LAWS THAT PREVENT BANKS, INSURANCE COMPANIES AND INVESTMENT BANKERS FROM ENTERING ONE ANOTHER'S TURF [FIELD OF BUSINESS]. THIS PAGE HAS LONG SUPPORTED SUCH A CHANGE. BUT THEIR CONFIDENCE ALSO TELLS A SAD STORY OF HOW RELIABLY MONEY BUYS INFLUENCE AND PREFERENTIAL TREATMENT IN CONGRESS.

TEXT: INTERNATIONALLY, "THE WASHINGTON TIMES" NOTES BOTH GOOD AND BAD NEWS FROM CHINA.

VOICE: THE GOOD NEWS IS THAT WANG DAN, CHINA'S BEST KNOWN POLITICAL DISSIDENT SINCE THE RELEASE OF WEI JINGSHENG, ARRIVED IN THE UNITED STATES YESTERDAY, RELEASED FROM SERVING AN ELEVEN-YEAR SENTENCE FOR HIS POLITICAL OUTSPOKENNESS. A LEADER IN THE TIANANMEN SQUARE MOVEMENT, ..... WANG DAN'S RELEASE COMES AS PART OF BEIJING'S PREPARATION FOR THE U-S-SINO SUMMIT IN JUNE. ..... THE BAD NEWS IS THAT WITH THE ADMINISTRATION'S EAGERNESS TO ENGAGE CHINA AND PRESS FOR AMERICAN EXPORTS, U-S COMPANIES ARE THROWING CAUTION TO THE WINDS AND PROVIDING THE CHINESE ADVANCED TECHNOLOGY AND EXPERTISE THAT COULD IN THE LONG RUN BE DETRIMENTAL TO THE UNITED STATES ITSELF. .... WHAT WE NEED IS AN EFFECTIVE EXPORT CONTROLS REGIME ON DUAL-USE TECHNOLOGY. WHAT WE HAVE IS AN ADMINISTRATION AND COMPANIES WILLING TO SELL ALMOST ANYTHING TO ANYBODY. ULTIMATELY, U-S NATIONAL SECURITY MAY BE AT STAKE HERE. WHEN WILL THEY COME TO THEIR SENSES?

TEXT: "THE SUN" IN BALTIMORE IS LAMENTING THE EFFECTS OF THE ASIAN FINANCIAL CRISIS WHICH ARE BEGINNING TO BE FELT HERE IN THE UNITED STATES.

VOICE: LIKE A TIDAL WAVE MOVING ACROSS THE PACIFIC, IT [THE EFFECTS] JUST HIT. THE U-S TRADE DEFICIT WITH THE REST OF THE WORLD WAS A WHOPPING 12-POINT-ONE BILLION DOLLARS IN FEBRUARY, UP FOUR-POINT-TWO PERCENT FROM ELEVEN-POINT-SIX BILLION DOLLARS IN JANUARY. THE REASON IS SIMPLE. INDONESIANS, THAIS AND MALAYSIANS WHOSE CURRENCIES HAVE PLUMMETED AGAINST THE DOLLAR ARE THAT MUCH POORER AND UNABLE TO BUY U-S GOODS. FOR THAT MATTER, THEY ARE LESS ABLE TO BUY U-S SERVICES, MANY OF WHICH WERE BEING USED TO BUILD THEIR ECONOMIES. ..... THE EXPORT SLOW DOWN WILL DAMPEN GROWTH OF THE U-S ECONOMY, BUT NEED NOT REVERSE IT. /// MEANWHILE, DISTRESS IN JAPAN, MALAYSIA AND THAILAND HAS OPENED BARRIERS TO FOREIGN INVESTMENT AND ALLOWED U-S AND OTHER INTERNATIONAL BUSINESSES TO ENTER FINANCIAL MARKETS AND TO PICK UP PROPERTIES AT FIRE-SALE [LOW] PRICES. /// END OPT ///

TEXT: STILL IN THE REGION, A NEW AGREEMENT TO REDUCE GREENHOUSE GAS EMISSIONS BETWEEN RUSSIA AND JAPAN IS BEING PRAISED IN "THE CHRISTIAN SCIENCE MONITOR."

VOICE: .... UNDER THEIR DEAL, JAPANESE ENERGY TECHNICIANS WOULD CONVERT SOME 20 RUSSIAN POWER PLANTS AND FACTORIES TO REDUCE THEIR EMISSIONS OF CARBON DIOXIDE AND OTHER GASES THAT TRAP SOLAR WARMTH. IN RETURN, JAPAN WOULD WIN CREDITS TO COUNT IN ITS OWN GAS REDUCTION EFFORTS. WE APPLAUD THE PLAN. IT'S GOOD FOR THE STAGNANT JAPANESE ECONOMY, GOOD FOR RUSSIA'S AGING PLANTS, AND A GOOD EXAMPLE FOR OTHER NATIONS.

TEXT: ACROSS THE PACIFIC TO LATIN AMERICA, WHERE PRESIDENT CLINTON HAS WOUND UP AN ECONOMIC SUMMIT, LARGELY ON THE SIDELINES, ACCORDING TO THESE COMMENTS FROM "USA TODAY." THE PAPER IS UPSET THAT CONGRESS FAILED TO GRANT THE PRESIDENT SO-CALLED 'FAST TRACK' NEGOTIATING AUTHORITY FOR TRADE PACTS.

VOICE: IN THE MIDST OF ALL THIS FREE-TRADE FRENZY, THE U-S HAS SAT IDLY BY. OF THE 30-PLUS DEALS OPERATING IN THIS HEMISPHERE, THE U-S IS PARTY TO ONLY ONE. EVEN THE MODEST GOAL OF GETTING CHILE INTO THE NORTH AMERICAN FREE TRADE AGREEMENT HAS BEEN PUT ASIDE. THIS IS A PROBLEM WITH A MOUNTING PRICE. U-S GOODS BOUND FOR CHILE, FOR INSTANCE, STILL FACE AN ELEVEN PERCENT TARIFF. NOT SO CANADIAN OR MEXICAN PRODUCTS. RESULT: LOST JOBS AND MISSED OPPORTUNITIES. ..... WITH THE LATIN AMERICAN REGION GROWING IN SIZE AND IMPORTANCE, THE U-S CAN ILL AFFORD TO BE LEFT OUT.

TEXT: TODAY'S "WASHINGTON POST" SEES A GLIMMER OF HOPE IN THE GRIM PICTURE OF ALGERIAN INSURRECTION.

VOICE: A DEVELOPMENT HAS TAKEN PLACE IN ALGERIA THAT HINTS AT A TURN IN THE CIVIL WAR THAT HAS COST TENS OF THOUSANDS OF LIVES SINCE THE ARMY HALTED ELECTIONS AN ISLAMIC PARTY SEEMED ABOUT TO WIN IN 1992. HERETOFORE, THE GOVERNMENT BLAMED FUNDAMENTALIST EXTREMISTS - - WHO ACCEPT RESPONSIBILITY FOR SOME OF THE TERRORIST TOLL -- FOR ALL OF THE CARNAGE. NOW THE INDEPENDENT FRENCH-LANGUAGE PRESS HAS REPORTED THE ARREST OF A DOZEN OFFICIALS OF THE STATE-RUN CIVILIAN 'SELF-DEFENSE GROUPS,' WHO ARE SUSPECTS IN SOME VILLAGE MASSACRES PREVIOUSLY ATTRIBUTED TO ISLAMIC GANGS. ..... TO THE EXTENT THAT ... THE ALGERIAN AUTHORITIES ... CONDUCT AN HONEST POLICY AND TALK STRAIGHT ABOUT IT ..... THEY STAND TO GAIN IN ALGERIAN OPINION AND IN INTERNATIONAL OPINION AS WELL.

TEXT: LASTLY, SOME ADDITIONAL THOUGHTS ON THE DEATH OF POL POT, THE ONE-TIME LEADER OF THE KHMER ROUGE, FROM "THE HARTFORD COURANT."

VOICE: 'HIS DEATH IS GOOD FOR THE KHMER ROUGE,' KHMER ROUGE GENERAL NOUN NO SAID. 'I HOPE HIS BAD NAME WILL VANISH WITH HIS DEATH.' THAT WOULD BE THE ULTIMATE TRAGEDY. POL POT'S NAME SHOULD NEVER VANISH. ..... HE SHOULD ALWAYS BE REMEMBERED IN THE SAME BREATH AS ADOLF HITLER. WHAT WOULD HELP IS TO BRING TO JUSTICE POL POT'S KEY LIEUTENANTS WHO ARE STILL ALIVE.

TEXT: ON THAT NOTE, WE CONCLUDE THIS SAMPLING OF EDITORIALS COMMENT FROM SOME OF TODAY'S U-S PRESS.
NEB/ANG/KL
20-Apr-98 10:56 AM EDT (1456 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 MIXED TODAY (MONDAY) AND THE WORLD'S LARGEST COMPUTER COMPANY DID NOT DISAPPOINT WALL STREET. VOA CORRESPONDENT BRECK ARDERY REPORTS FROM NEW YORK.

TEXT: THE DOW JONES INDUSTRIAL AVERAGE CLOSED AT 91 HUNDRED 41, DOWN 25 POINTS. THE STANDARD AND POOR'S 500 INDEX CLOSED AT 11 HUNDRED 23, UP ONE POINT.

THERE WAS PROFIT TAKING IN SOME OF THE LARGE COMPANY STOCKS BUT TECHNOLOGY SHARES WERE GENERALLY HIGHER, ESPECIALLY THOSE INVOLVED IN INTERNET-RELATED BUSINESSES.

JUST AFTER STOCK TRADING ENDED FOR THE DAY, I-B-M REPORTED LOWER QUARTERLY EARNINGS OF ONE DOLLAR AND SIX CENTS PER SHARE. BUT THAT IS ONE CENT AHEAD OF THE WALL STREET CONSENSUS ESTIMATE. THE FINANCIAL CRISIS IN ASIA HAS HURT SALES BY THE WORLD'S LARGEST COMPUTER COMPANY.

THE A-T AND T TELECOMMUNICATIONS COMPANY REPORTED A 20 PERCENT INCREASE IN QUARTERLY EARNINGS, AHEAD OF WHAT WALL STREET HAD GENERALLY EXPECTED. HOWEVER, SOME ANALYSTS EXPRESSED CONCERN THAT THE COMPANY'S GROSS REVENUES ARE NOT GROWING MUCH AND A-T AND T'S STOCK DROPPED.

THE WHIRLPOOL HOME APPLIANCE COMPANY REPORTED A 74 PERCENT JUMP IN PROFITS. THE COMPANY SAID STRENGTH IN NORTH AMERICAN AND EUROPEAN MARKETS MORE THAN OFFSET SOME WEAKNESS IN ASIA.

THERE IS A CONSOLIDATION IN THE PRIVATELY FINANCED U-S PRISON INDUSTRY. THE C-C-A PRISON COMPANY WILL ACQUIRE THE CORRECTION CORPORATION OF AMERICA IN A DEAL WORTH ALMOST THREE BILLION DOLLARS.

PRESIDENT CLINTON HAS ACCUSED THE U-S TOBACCO INDUSTRY OF THROWING UP A "SMOKESCREEN" (USING DECEPTION) IN EFFORTS TO DEFEAT TOBACCO LEGISLATION. THE INDUSTRY RECENTLY ANNOUNCED IT WILL NOT PARTICIPATE IN NEGOTIATIONS WITH CONGRESS ON A BILL WHICH WOULD COST THE INDUSTRY 516 BILLION DOLLARS AND WOULD NOT GIVE THE COMPANIES IMMUNITY FROM LAWSUITS.

THE HEAD OF THE U-S CENTRAL BANK SAYS MEDICARE -- THE NATION'S HEALTH CARE INSURANCE FOR THE ELDERLY -- IS GROWING OUT OF CONTROL AND THREATENS FEDERAL BUDGET DISCIPLINE. TESTIFYING BEFORE THE NATIONAL COMMISSION ON MEDICARE, ALAN GREENSPAN SAID A FUNDAMENTAL ISSUE MUST BE ADDRESSED.

YOU MUST ADDRESS THE BASIC QUESTION OF HOW MUCH OUR NATION IS WILLING TO EXPEND FOR THE EVER INCREASING CAPABILITIES OF MEDICINE AND, IN THE PROCESS, HOW WE ALLOCATE THE ECONOMY'S SCARCE RESOURCES BETWEEN MEDICARE AND OUR OTHER COMPETING NEEDS.

MR. GREENSPAN WARNED THAT SPIRALING MEDICARE EXPENDITURES THREATEN A BALANCED FEDERAL BUDGET AND COULD LEAD TO HIGHER INTEREST RATES. (SIGNED) NEB/NY/BA/LSF/WFR
20-Apr-98 5:19 PM EDT (2119 UTC)
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Source: Voice of America

[05] YUGO WAR CRIMES (L ONLY) BY GILLIAN SHARPE (THE HAGUE)

INTRO: A BOSNIAN SERB HAS PLEADED NOT GUILTY TO CRIMES AGAINST HUMANITY AT THE YUGOSLAV WAR CRIMES TRIBUNAL. GILLIAN SHARPE IN THE HAGUE REPORTS THE SUSPECT, ZORAN ZIGIC, IS ACCUSED OF COMMITTING ATROCITIES AT TWO PRISON CAMPS IN NORTHWESTERN BOSNIA.

TEXT: ZORAN ZIGIC LISTENED WITHOUT OBVIOUS EMOTION TO THE 69 WAR CRIMES COUNTS AGAINST HIM, INCLUDING 25 CHARGES OF CRIMES AGAINST HUMANITY.

PROSECUTORS SAY MR. ZIGIC WAS A FREQUENT VISITOR TO THE OMARSKA AND KERATERM PRISON CAMPS IN NORTHWESTERN BOSNIA WHERE HE KILLED, BEAT, AND ABUSED PRISONERS. THEY CHARGE THAT ON ONE OCCASION, HE WAS AMONG A GROUP WHICH FIRED MACHINEGUNS INTO A ROOM OF PRISONERS FOR SEVERAL HOURS, KILLING 140 OF THEM AND WOUNDING 50 OTHERS.

MR. ZIGIC PLEADED NOT GUILTY TO ALL THE CHARGES AGAINST HIM. THE TRIBUNAL'S DETENTION CENTER IS NOW FULL AND MR. ZIGIC IS BEING HELD IN AN ORDINARY DUTCH PRISON. THROUGH A TRANSLATOR HE COMPLAINED THAT CONDITIONS IN THE PRISON ARE BELOW STANDARD.

I HAVE BEEN PUT UP IN RATHER INHUMANE CONDITIONS. THE ROOM I'M IN DOESN'T HAVE A TOILET OR WATER. I HAVE NO CONDITIONS TO MAINTAIN PERSONAL HYGIENE, AND ACCORDING TO THE RULES, I SAW SOMETHING QUITE DIFFERENT. AND IN VIEW OF THOSE CONDITIONS, PERHAPS I WOULDN'T HAVE SURRENDERED .VOLUNTARILY.

MR. ZIGIC HAD ALREADY BEEN SERVING A PRISON TERM IN THE BOSNIAN SERB REPUBLIC FOR UNRELATED OFFENSES. ACTING ON REPORTS HE WAS WILLING TO SURRENDER, TRIBUNAL INVESTIGATORS, BACKED UP BY NATO TROOPS SERVED AN ARREST WARRANT ON HIM LAST WEEK.

MR. ZIGIC IS THE FIFTH BOSNIAN SERB TO SURRENDER TO THE TRIBUNAL IN THE PAST THREE MONTHS. IN FACT THE MAJORITY OF THE 26 CONVICTED WAR CRIMINALS AND SUSPECTS IN CUSTODY HAVE TURNED THEMSELVES IN.

SINCE LAST YEAR, NATO TROOPS HAVE BEEN INVOLVED IN FOUR ARREST OPERATIONS. BUT TWO-THIRDS OF THOSE CHARGED WITH CRIMES ARE STILL FREE. AMONG THEM IS THE TRIBUNAL'S MOST WANTED SUSPECT, FORMER BOSNIAN SERB LEADER RADOVAN KARADZIC. HE IS STILL AT LARGE, DESPITE RUMORS OF HIS IMMINENT ARREST OR SURRENDER. (SIGNED)
NEB/GS/JWH
20-Apr-98 1:23 PM EDT (1723 UTC)
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Source: Voice of America

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