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Voice of America, 98-04-27

Voice of America: Selected Articles Directory - Previous Article - Next Article

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


CONTENTS

  • [01] EDITORIAL: TRIBUTE TO CONSTANTINE KARAMANLIS
  • [02] EURO IMPACT (L-ONLY) BY BARRY WOOD (WASHINGTON)
  • [03] GERMANY / ELECT REACT (L ONLY) BY KYLE KING (BONN)
  • [04] BRITAIN / NEO-NAZIS BY ANDRE DE NESNERA (LONDON)
  • [05] E-U KOSOVO (L-ONLY) BY JOHN FRASER (BRUSSELS)
  • [06] EURO STOCKS (S-ONLY) BY PAUL FRANCUCH (LONDON)
  • [07] KOSOVO CONTACT GROUP BY RON PEMSTEIN (STATE DEPARTMENT)
  • [08] KOSOVO UNREST (S ONLY) BY ART CHIMES (PRAGUE)
  • [09] MONDAY'S EDITORIALS BY ANDREW N. GUTHRIE (WASHINGTON)
  • [10] N-Y ECON WRAP (S & L) BY BRECK ARDERY (NEW YORK)
  • [11] NORTHERN IRELAND (L-ONLY) BY ANDRE DE NESNERA (LONDON)
  • [12] SAF/NORTHERN IRELAND (S ONLY) CQ BY ALEX BELIDA (JOHANNESBURG)
  • [13] SENATE / NATO (L) BY DAVID SWAN (CAPITOL HILL)

  • [01] EDITORIAL: TRIBUTE TO CONSTANTINE KARAMANLIS

    DATE= APRIL 28, 1998
    TYPE= EDITORIAL
    NUMBER= 0-07760
    CONTENT=THIS IS THE SECOND OF TWO EDITORIALS BEING RELEASED FOR
    BROADCAST APRIL 28, 1998.

    ANNCR: THE VOICE OF AMERICA PRESENTS DIFFERING POINTS OF VIEW ON A WIDE VARIETY OF ISSUES. NEXT, AN EDITORIAL REFLECTING AMERICAN IDEALS AND INSTITUTIONS.

    VOICE:

    FORMER GREEK PRESIDENT CONSTANTINE KARAMANLIS [KAHR-AH-MAHN-'LEES] DIED THIS MONTH AT AGE NINETY-ONE. MR. KARAMANLIS WAS ONE OF HIS COUNTRY'S MOST RESPECTED STATESMEN. HE IS CREDITED WITH HELPING TO REBUILD GREECE AFTER THE SECOND WORLD WAR. HE ALSO PLAYED A KEY ROLE IN REBUILDING GREEK DEMOCRACY AFTER THE SEVEN-YEAR MILITARY DICTATORSHIP OF THE LATE 1960S AND EARLY 1970S.

    CONSTANTINE KARAMANLIS WAS FIRST ELECTED TO THE GREEK PARLIAMENT IN 1935. HE WAS OFFERED A CABINET POST WHEN GENERAL IOANNIS METAXAS [YO-'AHN-IS MEH-TAHKS-'AHS] SEIZED POWER THE NEXT YEAR. BUT MR. KARAMANLIS TURNED DOWN THE POST. HE TOLD METAXAS, "ALL DICTATORSHIPS CONTAIN THE SEEDS OF DEATH. THEY ARE DOOMED FROM THE BEGINNING, AS WILL BE YOURS."

    MR. KARAMANLIS WAS ELECTED TO PARLIAMENT AGAIN IN 1946 AND OVER THE NEXT DECADE HELD A NUMBER OF CABINET POSTS. AS MINISTER OF SOCIAL WELFARE, HE WORKED TO RESETTLE MORE THAN SEVEN-HUNDRED THOUSAND PEOPLE WHO HAD FLED THEIR HOMES IN GREECE'S WAR AGAINST SOVIET-SUPPORTED COMMUNISTS. FROM 1955 TO 1963, MR. KARAMANLIS WAS PRIME MINISTER. BUT HE RESIGNED AND WENT INTO EXILE BECAUSE OF HIS BELIEF THAT THE GREEK KING HAD OVERSTEPPED HIS AUTHORITY IN THE CONSTITUTIONAL MONARCHY. IN 1967, THE GREEK GOVERNMENT WAS OVERTHROWN BY MILITARY OFFICERS. MR. KARAMANLIS SPOKE OUT AGAINST THE MILITARY DICTATORS. HE SAID THEIR RULE HAD "CREATED AN EXPLOSIVE SITUATION. . .AND DEPRIVED GREECE OF INTERNATIONAL REPUTE." BY 1974, THE MILITARY DICTATORSHIP WAS COLLAPSING AND THERE WAS DANGER OF WAR WITH TURKEY. MR. KARAMANLIS WAS URGED TO COME HOME TO HELP HIS COUNTRY DEAL WITH THE CRISIS. AS PRIME MINISTER AGAIN, HE ACTED DECISIVELY TO RE-ESTABLISH DEMOCRATIC RULE AND DUE PROCESS OF LAW. HE ALSO ORGANIZED A REFERENDUM THAT ABOLISHED THE MONARCHY, STRENGTHENED THE GREEK COMMITMENT TO NATO AND LED GREECE INTO THE EUROPEAN UNION.

    AFTER STEPPING DOWN AS PRIME MINISTER IN 1980, MR. KARAMANLIS WAS ELECTED TO A FIVE-YEAR TERM AS PRESIDENT OF GREECE. HE WAS ELECTED TO ANOTHER FIVE-YEAR TERM IN 1990. CONSTANTINE KARAMANLIS WAS A RESPECTED FRIEND OF UNITED STATES LEADERS FROM PRESIDENT DWIGHT EISENHOWER TO PRESIDENT BILL CLINTON. HIS CONTRIBUTIONS TO STRONG GREEK-AMERICAN RELATIONS WILL NOT BE FORGOTTEN.

    ANNCR:

    THAT WAS AN EDITORIAL REFLECTING AMERICAN IDEALS AND INSTITUTIONS. IF YOU HAVE A COMMENT, PLEASE WRITE TO EDITORIALS, V-O-A, WASHINGTON, D-C, 20547, U-S-A. YOU MAY ALSO COMMENT AT WWW-DOT-VOA-DOT-GOV-SLASH-EDITORIALS, OR FAX US AT (202) 619-1043.
    27-Apr-98 2:07 PM EDT (1807 UTC)
    NNNN
    Source: Voice of America


    [02] EURO IMPACT (L-ONLY) BY BARRY WOOD (WASHINGTON)

    DATE=4/27/98
    TYPE=CORRESPONDENT REPORT
    NUMBER=2-230316
    CONTENT=
    VOICED AT:

    INTRO: THE U-S SECURITIES INDUSTRY HAS ISSUED A REPORT WARNING THAT THE INTRODUCTION OF A COMMON CURRENCY IN THE EUROPEAN UNION COULD DIMINISH THE ROLE OF THE DOLLAR IN GLOBAL FINANCE. V-O-A'S BARRY WOOD REPORTS.

    TEXT: THE SECURITIES INDUSTRY ASSOCIATION SAYS THE INTRODUCTION OF THE EURO THIS COMING JANUARY IS LIKELY TO STRENGTHEN EUROPE'S STOCK AND BOND MARKETS. THE MERGER OF THE FRENCH FRANC WITH THE GERMAN MARK AND SEVERAL OTHER CURRENCIES WILL MAKE THE EURO AN IMMEDIATE COMPETITOR WITH THE U-S DOLLAR IN GLOBAL CAPITAL MARKETS. AT PRESENT, THE DOLLAR IS USED IN ABOUT 70 PERCENT OF ALL MERGERS AND CORPORATE ACQUISITIONS. ABOUT 40 PERCENT OF WORLD TRADE IS DENOMINATED IN DOLLARS.

    THE AUTHOR OF THE REPORT, EVERETT EHRLICH, EXPECTS THE EURO TO BE INTRODUCED ON SCHEDULE AND THAT THE AMBITIOUS MONETARY UNION PROJECT WILL SUCCEED. MR. EHRLICH BELIEVES A SINGLE CURRENCY WILL BOOST COMPETITION AND MAKE EUROPE MORE EFFICIENT.

    // EHRLICH ACT //

    IT MIGHT LEAD THEM TO MORE DEREGULATION, MORE COMPETITIVE LABOR MARKETS, BETTER INSTITUTIONAL FEATURES IN THEIR ECONOMIES. THE MAASTRICHT TREATY (OF 1992 WHICH SPELLS OUT MONETARY UNION) PRODUCED A ROUND OF POLICY RECTITUDE AMONG THE EUROPEANS THAT HAVE LED THEM TO VERY LOW DEFICITS THAT WE WOULDN'T HAVE THOUGHT POSSIBLE FIVE YEARS AGO.

    //END ACT//

    THE REPORT MINIMIZES THE LIKELIHOOD OF FAILURE. MR. EHRLICH NOTES THAT MONETARY UNION WILL MAKE IT IMPOSSIBLE FOR PARTICIPATING COUNTRIES TO DEVALUE THEIR NATIONAL CURRENCIES IN ORDER TO GAIN A COMPETITIVE ADVANTAGE. BUT MR. EHRLICH BELIEVES THE LOSS OF THAT WEAPON IS NOT TERRIBLY SIGNIFICANT. HE ARGUES THAT A SINGLE CURRENCY WILL MAKE THE EUROPEAN UNION A MUCH BIGGER PLAYER IN INTERNATIONAL FINANCE. HE ANTCIPATES INCREASED STOCK MARKET ACTIVITY AND CROSS BORDER MERGERS. HE SAYS THE DIMINISHED ROLE OF THE DOLLAR MAY OR MAY NOT BE SIGNIFICANT. (SIGNED)
    NEB/BDW/MMK
    27-Apr-98 2:53 PM EDT (1853 UTC)
    NNNN
    Source: Voice of America


    [03] GERMANY / ELECT REACT (L ONLY) BY KYLE KING (BONN)

    DATE=4/27/98
    TYPE=CORRESPONDENT REPORT
    NUMBER=2-230290
    CONTENT=
    VOICED AT:

    INTRO: GERMAN NEWSPAPERS AND POLITICAL LEADERS HAVE REACTED WITH A MIXTURE OF SHOCK AND DISMAY FOLLOWING SUNDAY'S ELECTION TRIUMPH BY AN EXTREME RIGHT-WING PARTY IN EASTERN GERMANY. FROM BONN, V-O-A'S KYLE KING REPORTS.

    TEXT: GERMANY'S LARGEST-SELLING DAILY NEWSPAPER CALLED THE ELECTION IN THE STATE OF SAXONY-ANHALT "A BLACK SUNDAY" (A BAD DAY) FOR CHANCELLOR HELMUT KOHL'S RULING COALITION IN BONN -- AND A "BLACK SUNDAY" FOR DEMOCRACY. NEARLY 13 PERCENT OF THE VOTES IN THE ECONOMICALLY DEPRESSED EASTERN GERMAN STATE WENT TO THE FAR-RIGHT GERMAN PEOPLE'S UNION, OR D-V-U. IT WAS THE BEST SHOWING BY AN EXTREME RIGHT-WING PARTY IN GERMANY SINCE WORLD WAR TWO.

    THE FRANKFURTER ALLGEMEINE ZEITUNG -- ONE OF GERMANY'S MOST RESPECTED DAILY NEWSPAPERS -- EXPRESSED SHOCK THAT SO MANY YOUNG VOTERS WERE ATTRACTED TO THE RADICAL RIGHT.

    THE SOCIAL DEMOCRATS IN SAXONY-ANHALT, WHO CAPTURED ABOUT 35 PERCENT OF THE VOTE AND EMERGED AS THE LARGEST PARTY IN THE STATE, BLAMED THE ECONOMIC POLICIES OF THE KOHL GOVERNMENT.

    THAT SENTIMENT WAS ECHOED BY ROSEMARIE HEIN, THE STATE CHAIRMAN OF THE PARTY OF DEMOCRATIC SOCIALISM, THE FORMER COMMUNIST PARTY, WHICH REMAINS THE THIRD STRONGEST PARTY IN THE STATE.

    // HEIN ACT IN GERMAN, FADES //

    THE REASON THE VOTE WAS SO HIGH FOR THE RIGHT-WING D-V-U, MS. HEIN SAID, IS FRUSTRATION WITH THE ECONOMIC, SOCIAL AND JOB PROGRAM OF THE KOHL GOVERNMENT.

    DESPITE MR. KOHL'S PLEDGES OF A FLOURISHING ECONOMY IN THE EAST AFTER UNIFICATION, UNEMPLOYMENT IN SAXONY-ANHALT HAS BEEN HOVERING AT AROUND 25 PERCENT, THE HIGHEST RATE IN GERMANY.

    OFFICIALS OF MR. KOHL'S CHRISTIAN DEMOCRATIC PARTY DECLARED THE STRONG SHOWING BY THE EXTREME RIGHT A SCANDAL. BUT PARTY CHAIRMAN PETER HITZE AND OTHER C-D-U OFFICIALS SAY THE SOCIAL DEMOCRATS ARE PARTLY TO BLAME.

    // HITZE ACT IN GERMAN, FADES //

    BY REFUSING TO RULE OUT A STATE COALITION GOVERNMENT WITH THE LEFT-WING FORMER COMMUNISTS, MR. HITZE SAID, THE S-P-D INVITED THE RIGHT-WING PROTEST VOTE.

    OTHER OFFICIALS FROM MR. KOHL'S PARTY SAID THE TASK NOW IS TO FIND WAYS TO BRING ALIENATED AND JOBLESS YOUNG PEOPLE BACK INTO THE POLITICAL MAINSTREAM. (SIGNED)
    NEB/KBK/RRM
    27-Apr-98 10:22 AM EDT (1422 UTC)
    NNNN
    Source: Voice of America


    [04] BRITAIN / NEO-NAZIS BY ANDRE DE NESNERA (LONDON)

    DATE=4/27/98
    TYPE=BACKGROUND REPORT
    NUMBER=5-40173
    CONTENT=
    VOICED AT:

    INTRO: THE EUROPEAN EDITOR OF A BRITISH PUBLICATION WHICH SPECIALIZES IN INVESTIGATING RACIST AND EXTREME-RIGHT WING POLITICAL PARTIES SAYS THE RECENT STRONG SHOWING BY THE "GERMAN PEOPLE'S UNION" -- OR D-V-U -- IN ELECTIONS IN THE STATE OF SAXON-ANHALT IS A CLEAR DANGER SIGNAL. V-O-A'S ANDRE DE NESNERA REPORTS FROM LONDON.

    TEXT: IN THE ELECTIONS SUNDAY TO THE REGIONAL PARLIAMENT OF THE EASTERN GERMAN STATE OF SAXON-ANHALT, GERMAN CHANCELLOR HELMUT KOHL'S CHRISTIAN DEMOCRATIC PARTY WAS HUMILIATED, RECEIVING ONLY 23 PERCENT OF THE VOTES. BUT THAT DEFEAT WAS OVERSHADOWED BY THE RESULT OF THE EXTREME-RIGHT WING AND OPENLY RACIST "GERMAN PEOPLE'S UNION" -- OR D-V-U -- WHICH SWEPT INTO PARLIAMENT WITH NEARLY 13 PERCENT OF THE VOTES CAST.

    THE BRITISH MAGAZINE "SEARCHLIGHT" SPECIALIZES IN THE INVESTIGATION OF RIGHT-WING EXTREMIST, ANTI-SEMITIC AND RACIST ORGANIZATIONS. "SEARCHLIGHT'S" EUROPEAN EDITOR -- GRAHAM ATKINSON SAYS THE D-V-U'S STRONG SHOWING IS ONLY PARTLY DUE TO A VOTE AGAINST CHANCELLOR KOHL.

    // FIRST ATKINSON ACT //

    THERE IS ENORMOUS RESENTMENT AT THE FACT THAT EIGHT YEARS AFTER BEING TAKEN OVER BY WEST GERMANY, THE FEDERAL GERMAN GOVERNMENT LED BY GERMAN CHANCELLOR HELMUT KOHL HAS SIGNALLY FAILED TO DELIVER ON ITS PROMISES. KOHL PROMISED THE PEOPLE OF THE FIVE NEW GERMAN STATES -- FORMERLY EAST GERMANY -- A BLOSSOMING LANDSCAPE. AND WHAT IN FACT THEY HAVE INSTEAD OF THIS, IS 25 PERCENT UNEMPLOYMENT AND NO SIGN, REALLY, OF A BOOMING ECONOMY AND NO SIGN OF A BOOMING ECONOMY TO COME.

    // END ACT //

    MR. ATKINSON SAYS THERE IS AN UNDERCURRENT OF EXTREME-RIGHT WING GERMAN NATIONALISM WHICH HAS NEVER REALLY LEFT THE SCENE SINCE THE END OF THE SECOND WORLD WAR. THAT NATIONALISM FEEDS OFF THE POPULAR DISCONTENT BROUGHT ABOUT BY ECONOMIC PROBLEMS -- AND MR. ATKINSON BELIEVES IN THE FUTURE, THERE WILL BE A HARD SHIFT TO THE RIGHT IN THE FIVE STATES OF FORMER EAST GERMANY.

    // SECOND ATKINSON ACT //

    //OPT//

    THERE HAVE BEEN COMMENTATORS WHO HAVE MADE VERY SERIOUS ERRORS IN THE LAST 24-HOURS, WHO SAID THAT THE VOTE FOR THE D-V-U WAS THE RESULT OF DISSATISFACTION WITH GERMAN REUNIFICATION. WELL, IF ONE IS DISSATISFIED WITH GERMAN REUNIFICATION, ONE DOES NOT VOTE FOR A HARDLINE, PAN-GERMAN NATIONALIST PARTY. THAT'S NONSENSE.

    //END OPT//

    IN FACT, WHAT WE ARE WITNESSING HERE IS A GRAVITATIONAL SHIFT: A RIGHT-WING RADICALIZATION IN THE DIRECTION OF GERMAN NATIONALISM, AND I THINK THAT IS DANGEROUS FOR THE GERMANS AND I THINK IT IS DANGEROUS FOR THE REST OF US.

    // END ACT //

    THE BRITISH EXPERT ON RIGHT-WING EXTREMIST GROUPS BELIEVES THERE IS A REEMERGENCE OF FASCISM -- BUT NOT ONLY IN GERMANY.

    // THIRD ATKINSON ACT //

    IT IS NOT THE FASCISM OF THE 1930'S. THESE PEOPLE DO NOT RUN AROUND -- FOR THE MOST PART -- WEARING UNIFORMS LIKE HOLLYWOOD NAZIS. THEY ARE IN FACT VERY SMOOTH, MEDIA- PRESENTABLE. THEY CAN ARGUE THEIR POLITICS IN A VERY ARTICULATE WAY AND AS HAS BEEN SHOWN, THEY CAN ACTUALLY BREAK THROUGH INTO THE POLITICAL MAINSTREAM BY ESTABLISHING A RESONANCE WITHIN THE WIDER POPULATION, SUFFICIENT TO GIVE THEM 13 PERCENT OF THE VOTE IN SAXON-ANHALT AND 15 PERCENT IN FRANCE.

    // END ACT //

    GRAHAM ATKINSON FROM THE BRITISH MAGAZINE "SEARCHLIGHT" SAYS THE NEXT CLEAR INDICATION IN GERMANY OF THE STRENGTH OF EXTREME RIGHT-WING PARTIES WILL COME IN OCTOBER DURING THE FEDERAL ELECTIONS. HE SAYS THE EXTREME-RIGHT WING "NATIONAL DEMOCRATIC PARTY" WILL FIELD CANDIDATES. THAT POLITICAL PARTY HAS BETTER ORGANIZATIONAL STRUCTURES AND, HE SAYS, IS FAR MORE HARDCORE NAZI THAN THE D-V-U -- WHICH HAS JUST SHOWN ITS STRENGTH IN REGIONAL ELECTIONS IN SAXON-ANHALT. (SIGNED)
    NEB/ADEN/PCF
    27-Apr-98 1:04 PM EDT (1704 UTC)
    NNNN
    Source: Voice of America


    [05] E-U KOSOVO (L-ONLY) BY JOHN FRASER (BRUSSELS)

    DATE=4/27/98
    TYPE=CORRESPONDENT REPORT
    NUMBER=2-230310
    CONTENT=
    VOICED AT:

    INTRO: FOREIGN MINISTERS OF THE 15-NATION EUROPEAN UNION ON MONDAY IMPOSED AN EMBARGO ON THE SUPPLY TO YUGOSLAVIA OF ARMS AND EQUIPMENT WHICH COULD BE USED FOR INTERNAL OPPRESSION. THEY'VE ALSO WARNED OF FURTHER SANCTIONS, UNLESS PRESIDENT SLOBODAN MILOSEVIC ACCEPTS INTERNATIONAL MEDIATION TO RESOLVE THE CRISIS. DETAILS FROM JOHN FRASER.

    TEXT: THE EUROPEAN UNION FOREIGN MINISTERS REMAIN DEEPLY CONCERNED ABOUT THE REPRESSION OF THE ALBANIAN MAJORITY IN THE SERBIAN PROVINCE OF KOSOVO. THEY HAVE ALREADY CONDEMNED EARLIER VIOLENCE INVOLVING THE POLICE, IN WHICH DOZENS OF PEOPLE HAVE BEEN KILLED. MORE RECENTLY, THERE HAVE BEEN CLASHES BETWEEN THE ARMY AND ALBANIAN SEPARATIST GUERRILLAS.

    AS THERE HAS BEEN NO POSITIVE RESPONSE TO INTERNATIONAL APPEALS TO PRESIDENT MILOSEVIC TO ACCEPT ARBITRATION IN THE CONFLICT, IT WAS DECIDED TO STEP UP THE PRESSURE ON THE SERBIAN LEADER, BY FORMALLY PROCEEDING WITH THE ARMS EMBARGO. THIS WILL COVER NOT JUST GUNS, AMMUNITION AND GUN-MAKING MACHINERY, BUT ALSO EQUIPMENT WHICH COULD BE USED FOR INTERNAL REPRESSION.

    //OPT//

    THE LIST INCLUDES ARMED FOUR-WHEEL DRIVE VEHICLES, POWER-CONTROLLED SEARCHLIGHTS, COMMUNICATIONS INTERCEPTION DEVICES, TELESCOPIC SITES, IMAGE INTENSIFIERS, ANTI-RIOT HELMETS AND SHIELDS, BODY ARMOR, WATER CANNON, LEG IRONS, AND SOME FINGERPRINT EQUIPMENT. //END OPT//

    THE EUROPEAN UNION FOREIGN MINISTERS HAVE ALSO IMPOSED RESTRICTIONS ON FOREIGN INVESTMENT IN YUGOSLAVIA, AND HAVE AGREED TO CONTROLS ON THE MOVEMENT OF SENIOR GOVERNMENT OFFICIALS.

    THESE MEASURES WILL REMAIN IN FORCE UNTIL THE AUTHORITIES IN BELGRADE AGREE TO WITHDRAW THEIR FORCES FROM KOSOVO, END THE USE OF HEAVY WEAPONS, AND OPEN MEANINGFUL TALKS WITH INTERNATIONAL MEDIATORS. UNLESS THERE ARE SUCH TALKS, PRESIDENT MILOSEVIC HAS BEEN WARNED THAT FURTHER SANCTIONS ARE LIKELY.

    //REST OPT//

    HE HAS BEEN URGED BY THE 15 E-U GOVERNMENTS TO SHOULDER HIS RESPONSIBILITIES TO PROMOTE A PEACEFUL SOLUTION TO THE CRISIS IN KOSOVO.

    THE WEST IS WATCHING THE SITUATION IN KOSOVO CLOSELY, FEARFUL THAT IF TENSIONS RISE ANY FURTHER, THERE IS A DANGER OF THE CONFLICT SPREADING MORE WIDELY THROUGH THE BALKANS. (SIGNED)
    NEB/JF/PCF
    27-Apr-98 2:06 PM EDT (1806 UTC)
    NNNN
    Source: Voice of America


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

    DATE=4/27/98
    TYPE=CORRESPONDENT REPORT
    NUMBER=2-230308
    CONTENT=
    VOICED AT:

    INTRO: STOCK PRICES TOOK A SHARE DIVE MONDAY ON THE MAJOR MARKETS OF WESTERN EUROPE. FOR THE CLOSING FIGURES, HERE'S VOA'S PAUL FRANCUCH IN LONDON.

    TEXT: EXCHANGES IN FRANKFURT, LONDON AND PARIS WERE ALL OFF BY ABOUT TWO-AND-A-HALF PERCENT FOR THE TRADING DAY. ANALYSTS SAY THE SELL-OFF, WHICH CONTINUED FROM LATE LAST WEEK, WAS ATTRIBUTED LARGELY TO FEARS OF HIGHER INTEREST RATES IN THE UNITED STATES.

    HERE'S THE FIGURES: THE FRANKFURT "DAX" INDEX CLOSED DOWN 142 POINTS. COMING A CLOSE SECOND WAS LONDON'S "FINANCIAL TIMES" 100 INDEX -- DOWN 141-AND-A-HALF POINTS FOR THE DAY. THE PARIS "CAC 40" INDEX CLOSED 97-AND-A-HALF POINTS LOWER.

    ON THE CURRENCY EXCHANGES IN EUROPE, THE U-S DOLLAR TRADED ABOUT A HALF PFENNIG LOWER AGAINST THE GERMAN MARK AND A HALF CENT DOWN AGAINST THE BRITISH POUND.

    GOLD IN LONDON CLOSED TRADING MONDAY AT 310-DOLLARS-45 CENTS AN OUNCE -- A DECLINE OF ONE-DOLLAR-70 CENTS. (SIGNED)
    NEB/PCF/KL
    27-Apr-98 1:57 PM EDT (1757 UTC)
    NNNN
    Source: Voice of America


    [07] KOSOVO CONTACT GROUP BY RON PEMSTEIN (STATE DEPARTMENT)

    DATE=4/27/98
    TYPE=BACKGROUND REPORT
    NUMBER=5-40180
    CONTENT=
    VOICED AT:

    INTRO: THE SIX POLITICAL DIRECTORS OF THE INTERNATIONAL GROUP CONCERNED WITH DEVELOPMENTS IN YUGOSLAVIA MEET IN ROME WEDNESDAY TO DECIDE ABOUT ECONOMIC SANCTIONS AGAINST SERBIA FOR ITS ACTIONS IN THE PROVINCE OF KOSOVO. V-O-A'S CORRESPONDENT RON PEMSTEIN REPORTS FROM THE STATE DEPARTMENT, THE UNITED STATES IS LOSING PATIENCE WITH ITS PARTNERS IN THE CONTACT GROUP.

    TEXT: CONTACT GROUP FOREIGN MINISTERS HAVE MET IN LONDON AND BONN WARNING YUGOSLAVIA OF THE CONSEQUENCES OF THE FAILURE TO START A DIALOGUE WITH THE ALBANIANS IN KOSOVO. AS THE GROUP'S POLITICAL DIRECTORS MEET IN ROME, STATE DEPARTMENT SPOKESMAN JAMES FOLEY SAYS NONE OF THE CONDITIONS SET FORTH BY THE MINISTERS LAST MONTH HAS BEEN MET.

    ///FOLEY ACT///

    THE CONTACT GROUP CALLED ADDITIONALLY, AS WELL AS FOR DIRECT AND UNCONDITIONAL NEGOTIATIONS, CALLED FOR A PULLBACK OF SPECIAL POLICE, CALLED FOR INTERNATIONAL MEDIATION, CALLED FOR INTERNATIONAL PRESENCE FOR MONITORING FOR THE DELIVERY OF HUMANITARIAN ASSISTANCE AND IN ALMOST EVERY ONE OF THESE AREAS, WE'VE SEEN NOTHING BUT OBSTRUCTION ON THE PART OF (YUGOSLAV PRESIDENT SLOBODAN) MILOSEVIC.

    ///END ACT///

    POLITICAL DIRECTORS FROM THE UNITED STATES, BRITAIN, GERMANY, FRANCE, ITALY AND RUSSIA ARE MEETING IN ROME (WEDNESDAY) TO DISCUSS THE CONSEQUENCES OF THE YUGOSLAV PRESIDENT'S POLICIES TOWARDS KOSOVO. THE UNITED STATES HAS BEEN PUSHING FOR ECONOMIC PENALTIES SUCH AS A FREEZE ON YUGOSLAV BANK ACCOUNTS ABROAD OR A BAN ON INVESTMENTS IN THE YUGOSLAV ECONOMY. RUSSIA, WITH OCCASIONAL SUPPORT FROM ITALY AND FRANCE, HAS RESISTED PENALTIES AGAINST YUGOSLAVIA, PREFERRING INSTEAD TO OFFER INCENTIVES TO PRESIDENT MILOSEVIC TO COOPERATE WITH THE CONTACT GROUP. DURING THE LAST WEEK, DEPUTY SECRETARY OF STATE STROBE TALBOTT AND ROBERT GELBARD, THE AMERICAN REPRESENTATIVE TO THE GROUP, CONSULTED THE OTHER COUNTRIES ABOUT A PACKAGE CONTAINING BOTH THE INCENTIVES, THE CARROTS ,AND THE SANCTIONS, THE STICKS.

    AMERICAN OFFICIALS SAY MR. GELBARD WILL PUT THIS PACKAGE ON THE TABLE IN ROME. IF YUGOSLAVIA REVERSES COURSE AND AGREES TO TALK UNCONDITIONALLY TO THE ALBANIANS IN KOSOVO, THE UNITED STATES WILL FAVOR ALLOWING YUGOSLAVIA TO REJOIN THE UNITED NATIONS, THE INTERNATIONAL MONETARY FUND AND THE ORGANIZATION FOR SECURITY AND COOPERATION IN EUROPE (OSCE). IF YUGOSLAVIA STANDS BY THE STATUS QUO, THE UNITED STATES WANTS ITS PARTNERS IN THE GROUP TO AGREE TO IMPOSE AUTOMATIC ECONOMIC SANCTIONS AGAINST BELGRADE.

    AMERICAN OFFICIALS EMPHASIZE THE CONTACT GROUP WILL NOT BE ALLOWED TO TAKE THE CARROTS OF INCENTIVES AND IGNORE THE STICK OF MORE SANCTIONS. IF RUSSIA AND ITALY MAINTAIN THEIR OPPOSITION TO ECONOMIC SANCTIONS AGAINST YUGOSLAVIA, THE UNITED STATES PLANS TO IGNORE THE CONTACT GROUP APPROACH AND TO TAKE A MORE ACTIVE DIPLOMATIC ROLE IN PUSHING THE SERBS AND ALBANIANS TO NEGOTIATE.

    THE CONTACT GROUP APPROACH HAS SERVED THE AMERICAN INTEREST IN THE PAST. THE MEMBERSHIP INCLUDES ALL THE PERMANENT MEMBERS OF THE UNITED NATIONS SECURITY COUNCIL EXCEPT CHINA. THAT APPROACH HELPED TO PASS A U-N ARMS EMBARGO AGAINST YUGOSLAVIA AT THE END OF MARCH. ON THE OTHER HAND, THE UNITED STATES HAS BEEN FRUSTRATED AT WHAT OFFICIALS CALL THE "LOWEST COMMON DENOMINATOR" APPROACH WHERE RUSSIAN OPPOSITION CAN KILL STRONGER ACTION BY THE CONTACT GROUP.

    AMERICAN OFFICIALS SAY THEY WILL NOT SETTLE FOR THE LOWEST COMMON DENOMINATOR IN ROME. AS ONE PUT IT, CONSENSUS IS NOT THE GOAL. THEY WORRY ABOUT THE YUGOSLAV MINISTRY OF DEFENSE STATEMENT LAST WEEK THAT WARNS OF WAR IF INFILTRATION CONTINUES INTO KOSOVO FROM ALBANIA. U-S OFFICIALS SAY ALBANIAN LEADERS IN TIRANA HAVE BEEN EXTREMELY MODERATE BUT ADD THE ALBANIANS HAVE NO ABILITY TO STOP THE FLOW OF WEAPONS AND PEOPLE ACROSS THE YUGOSLAV BORDER.

    SPOKESMAN JAMES FOLEY SAYS YUGOSLAV ARMY ACTIONS IN THE DECANI AREA OF KOSOVO TROUBLES THE UNITED STATES.

    ///FOLEY ACT///

    THE U-S DOES RECOGNIZE THE SOVEREIGN RIGHT OF NATIONS TO PROTECT THEIR BORDERS BUT THERE ARE ADDITIONAL REPORTS OF A SIGNIFICANT MILITARY BUILD UP IN THE INTERIOR OF KOSOVO AND WE BELIEVE THESE REPORTS ARE TROUBLING GIVEN THE RECENT INCIDENTS OF DISPROPORTIONATE USE OF FORCE BY THE GOVERNMENT AND WE'VE RAISED THIS CONCERN WITH SENIOR OFFICIALS IN BELGRADE.

    ///END ACT///

    AMERICAN OFFICIALS BELIEVE IT IS TIME FOR THE CONTACT GROUP TO ACT. IF THE AMERICAN PACKAGE CONTAINING ANOTHER WARNING IS NOT ADOPTED IN ROME, THE UNITED STATES PLANS TO IGNORE THE CONTACT GROUP IN ITS FUTURE POLICY TOWARD YUGOSLAVIA. (SIGNED)
    NEB/RP/ENE/PT
    27-Apr-98 6:18 PM EDT (2218 UTC)
    NNNN
    Source: Voice of America


    [08] KOSOVO UNREST (S ONLY) BY ART CHIMES (PRAGUE)

    DATE=4/27/98
    TYPE=CORRESPONDENT REPORT
    NUMBER=2-230276
    CONTENT=
    VOICED AT:

    INTRO: YUGOSLAV ARMY TROOPS HAVE KILLED THREE SUSPECTED ETHNIC ALBANIAN GUERRILLAS AND WOUNDED FOUR OTHERS IN SERBIA'S TROUBLED KOSOVO PROVINCE. V-O-A CORRESPONDENT ART CHIMES IS FOLLOWING THE STORY FROM OUR BUREAU IN PRAGUE.

    TEXT: SERBIAN MEDIA (EDS: THE SERB MEDIA CENTER) REPORT THE BATTLE TOOK PLACE EARLY MONDAY WHEN THE SUSPECTED GUERRILLAS OPENED FIRE ON THE ARMY TROOPS NEAR DECANY, NOT FAR FROM THE ALBANIAN BORDER. THE REPORT QUOTES ARMY SOURCES AS SAYING THE TROOPS FOUND LARGE QUANTITIES OF WEAPONS IN THE AREA, WHERE THERE HAD BEEN SEVERAL SIMILAR INCIDENTS IN THE PAST WEEK.

    SERBIAN FORCES ARE WAGING AN ONGOING BATTLE WITH PRO-INDEPENDENCE GUERRILLAS IN KOSOVO, SERBIA'S SOUTHERN PROVINCE WHERE 90-PERCENT OF THE POPULATION IS ETHNIC ALBANIAN.

    DIPLOMATS FROM EUROPE, RUSSIA AND THE UNITED STATES HAVE TRIED TO URGE THE TWO SIDES TO THE NEGOTIATING TABLE -- SO FAR WITHOUT SUCCESS. THE DIPLOMATS ARE DUE TO MEET AGAIN IN ROME WEDNESDAY TO CONSIDER POSSIBLE SANCTIONS AGAINST BELGRADE. (SIGNED)
    NEB/ART/PCF
    27-Apr-98 6:47 AM EDT (1047 UTC)
    NNNN
    Source: Voice of America


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

    DATE=04/27/98
    TYPE=U-S EDITORIAL DIGEST
    NUMBER=6-10683
    TELEPHONE=619-3335
    CONTENT=

    //// EDS: PERISHABLE MATERIAL, DATED AFTER 10 P-M E-D-T ! ! ////

    INTRO: A WIDE ARRAY OF TOPICS FALLS UNDER THE SPOTLIGHT OF THE EDITORIAL WRITERS IN THE U-S DAILY PRESS THIS MONDAY. TURKEY'S MILITARY INVOLVEMENT IN POLITICS IS ONE TOPIC UNDER DISCUSSION, AS IS BORIS YELTSIN'S LATEST MOVES IN BATTLING THE RUSSIAN PARLIAMENT. OTHER TOPICS INCLUDE THE BATTLE FOR CAMPAIGN FINANCE REFORM; THE TOBACCO INDUSTRY SETTLEMENT AND THE SHROUD OF TURIN BACK ON PUBLIC DISPLAY. NOW, HERE WITH A CLOSER LOOK AND SOME QUOTES IS _____________________ AND TODAY'S EDITORIAL DIGEST.

    TEXT: TODAY'S "NEW YORK TIMES" IS WORRIED ABOUT THE INFLUENCE OF THE MILITARY IN TURKISH POLITICS, AND, UNDER THE HEADLINE "TURKEY'S DESTRUCTIVE GENERALS, WRITES:"

    VOICE: TURKEY'S POLITICALLY MEDDLESOME GENERALS SEEM DETERMINED TO PUSH THEIR COUNTRY INTO CRISIS BY THWARTING DEMOCRATIC SOLUTIONS TO ITS PROBLEMS. THEIR LATEST OUTRAGE IS A SECURITY COURT'S SENTENCING OF ISTANBUL'S ISLAMIST MAYOR, RECEP TAYYIP ERDOGAN, TO TEN MONTHS IN JAIL FOR A SPEECH THAT SUPPOSEDLY VIOLATED THE MILITARY'S RIGID STANDARDS OF SECULARIST ORTHODOXY. .... TURKEY IS A NATO ALLY AND AN IMPORTANT AMERICAN MILITARY PARTNER IN THE MIDDLE EAST. HENCE WASHINGTON MAINTAINS CORDIAL TIES WITH TURKISH GENERALS. BUT IT SHOULD REJECT THE GENERALS' CONTENTION THAT THEIR CLUMSY INTERVENTIONS IN TURKEY'S POLITICAL LIFE DEFEND THE CAUSES OF SECULARISM AND DEMOCRACY. IN FACT, THE MILITARY'S CONDUCT UNDERMINES BOTH.

    TEXT: "THE TIMES" GOES ON TO SAY THAT, WHILE THE ISLAMIC FUNDAMENTALIST MOVEMENT DOES POSE A THREAT TO TURKEY, DRIVING IT UNDERGROUND WOULD BE A BIG MISTAKE.

    TURNING TO THE JUST-COMPLETED BATTLE BORIS YELTSIN HAD WITH THE DUMA, RUSSIA'S LOWER HOUSE OF PARLIAMENT, IN APPROVING MR. YELTSIN'S CHOICE FOR PRIME MINISTER, "THE SUN" IN BALTIMORE NOTES:

    VOICE: NO ONE SEEMS TO KNOW EXACTLY WHAT PRESIDENT ... YELTSIN'S GAME PLAN IS, BUT HE RULES SUPREME AFTER THE HOSTILE RUSSIAN PARLIAMENT CAVED IN AND APPROVED HIS CHOICE FOR PRIME MINISTER. AT 35, SERGEI KIRIYENKO IS A MERE BABE IN RUSSIAN POLITICS. THE FORMER BANKER, NOW RUSSIA'S SECOND MOST POWERFUL POLITICIAN, ARRIVED IN MOSCOW LESS THAN A YEAR AGO TO TAKE HIS FIRST GOVERNMENT JOB. ...... THE KIRIYENKO CONFIRMATION HAS THROWN THE PARLIAMENT'S DOMINANT COMMUNISTS INTO DISARRAY. THEY WILL REMAIN A POTENT FORCE TO CONTEND WITH, THOUGH, AS LONG AS NONCOMMUNISTS KEEP QUARRELING AND TAKE THEIR CUES FROM A HANDFUL OF POWERFUL MONEY MEN WHO SEEM TO BE CALLING THE SHOTS [MAKING THE KEY DECISIONS] IN THE KREMLIN.

    TEXT: DOMESTICALLY, THE BATTLE OVER MEANINGFUL CAMPAIGN FINANCE REFORM HAS COME BACK TO LIFE IN THE CONGRESS, SUPPORTED BY A BI-PARTISAN GROUP OF RANK AND FILE LEGISLATORS, AND "THE NEW YORK TIMES" SAYS OF THE CONTINUING STRUGGLE:

    VOICE: THE BIGGEST DANGER NOW LIES IN WATERED-DOWN [WEAKENED] BILLS DRESSED UP TO LOOK LIKE REFORM. /// OPT /// A BILL PUT FORWARD BY A BIPARTISAN GROUP OF HOUSE FRESHMEN, HOWEVER WELL INTENTIONED, WOULD UNDERMINE A CAMPAIGN CLEANUP BY BARRING SOFT MONEY FOR THE NATIONAL PARTIES BUT LETTING IT FLOW INTO THE STATE PARTIES. THEIR BILL WOULD ALSO LET INDEPENDENT ORGANIZATIONS LIKE UNIONS OR ANTI-ABORTION GROUPS USE UNREGULATED MONEY FOR ATTACK ADS THAT HAVE BECOME A FIXTURE OF THE CANDIDATES' CAMPAIGNS. /// END OPT /// ..... A BIPARTISAN MAJORITY IN THE HOUSE SAYS IT FAVORS A SOFT-MONEY BAN. ONE CAN PASS IF THEY ALL KEEP THEIR WORD.

    ///OPT ///

    TEXT: "THE CHRISTIAN SCIENCE MONITOR" IS ALSO ENCOURAGED BY THE "REBIRTH" OF THIS MOVE FOR REFORM.

    VOICE: POLITICAL EMBARRASSMENT MAY YET BRING ABOUT CAMPAIGN FINANCE REFORM. THE DRIP, DRIP, DRIP OF AWKWARD MOMENTS FOR LEADERS OF BOTH PARTIES -- STRETCHING FROM THE 1996 ELECTION TO THIS ELECTION SEASON -- HAS GRADUALLY BUILT SUPPORT FOR BIPARTISAN REFORM LEGISLATION. ...... WE CONTINUE TO HOPE THAT THE EGREGIOUS LINKAGE OF CORPORATE AND UNION GIVING AND FAVORABLE LEGISLATION CAN BE CURBED. BUT EVEN IF THAT COMES ABOUT, THERE'S LITTLE REASON FOR COMPLACENCY. INTEREST GROUPS WITH MONEY HAVE FOUND THEIR WAY PAST PREVIOUS REFORMS. THEY ARE NOT LIKELY TO GIVE UP IN THE FACE OF NEW LIMITS. WATCHDOGS WILL ALWAYS BE NEEDED.

    /// END OPT ///

    TEXT: AS REGARDS THE CONTINUING CONTROVERSY OVER A DEAL WITH THE TOBACCO COMPANIES TO LIMIT THE SALE OF TOBACCO PRODUCTS IN THIS COUNTRY, "USA TODAY" SAYS OF THE FIGHT IN CONGRESS:

    VOICE: PITY THE POOR TOBACCO INDUSTRY. SINCE ABANDONING NEGOTIATIONS WITH THE GOVERNMENT EARLIER THIS MONTH, INDUSTRY LEADERS SOUND TRULY AGGRIEVED. THEY REPORT ALL MANNER OF PROBLEMS WITH PLANS IN CONGRESS TO REDUCE SMOKING IN EXCHANGE FOR LIMITING INDUSTRY LIABILITY. .... BUT BEFORE YOU BELIEVE ...... THE TOBACCO INDUSTRY'S PUBLIC RELATIONS BARRAGE ... PAUSE A MOMENT FOR ONE LITTLE BIT OF TRUTH: EVERYTHING THE INDUSTRY IS RAILING AGAINST [COMPLAINING ABOUT] TODAY IT AGREED TO IN SOME FORM JUST TEN MONTHS AGO. ... WHAT CHANGED BETWEEN JUNE AND TODAY IS THIS: CONGRESS STARTED TO GIVE THE APPEARANCE OF CLOSING LOOPHOLES THE INDUSTRY HAD ARTFULLY BUILT INTO THE JUNE DEAL -- [MADE WITH ATTORNEYS GENERAL OF SEVERAL STATES] -- A TACTIC IT HAS EXPLOITED IN THE PAST. PENALTIES FOR FAILING TO REDUCE TEEN SMOKING, FOR INSTANCE, WERE TOO SMALL TO MATTER.

    /// OPT ///

    TEXT: TURNING OVERSEAS AGAIN, "THE WASHINGTON TIMES" IS COMMENTING ON REPORTS THAT A FRENCH OFFICER COMPROMISED A PLAN TO CATCH BOSNIAN WAR CRIME SUSPECT RADOVAN KARADZIC LAST YEAR.

    VOICE: ..... IT IS TRULY APPALLING TO LEARN THAT NATO EFFORTS TO CAPTURE BOSNIAN SERB LEADER RADOVAN KARADZIC IN THE SUMMER OF 1997 APPARENTLY WERE FOILED BY A FRENCH OFFICER, WHO WAS MEETING SECRETLY WITH HIM AND PASSING INFORMATION ABOUT NATO OPERATIONS. MR. KARADZIC IS CURRENTLY WANTED IN THE HAGUE ON TWO CHARGES: ONE FOR THE ABUSE OF MUSLIM CIVILIANS IN THE HANDS OF THE BOSNIAN SERB ARMY AND THE OTHER FOR THE MASSACRE OF THOUSANDS OF MUSLIMS FLEEING THE CITY OF SREBRENICA IN PERHAPS THE SINGLE MOST ATROCIOUS INCIDENT OF THE WAR. ...... THE FRENCH GOVERNMENT OWES THE WORLD A REASONABLE ACCOUNT OF WHAT TOOK PLACE, AND IT HAS NOT BEEN FORTHCOMING AS YET.

    /// END OPT ///

    TEXT: LASTLY, SOME THOUGHTS ON THE CURRENT PUBLIC DISPLAY OF ONE OF THE MOST VENERATED OBJECTS IN CHRISTIANITY, THE SHROUD OF TURIN, THOUGHT BY MANY TO BE THE BURIAL CLOTH OF JESUS CHRIST. TODAY'S "BOSTON GLOBE" NOTES:

    VOICE: THREE MILLION PILGRIMS ARE EXPECTED TO VIEW THE SHROUD .....ON DISPLAY IN ITALY UNTIL MID-JUNE. MANY OF THEM WILL MAKE THE JOURNEY IN COMFORTABLE CONTRADICTION, SIMULTANEOUSLY EMBRACING AND REJECTING SCIENCE TO REACH THEIR DESTINATION. FAITH IS RARELY LOGICAL. .... THE MIRACLES OF SCIENCE HAVE ... CAST DOUBT ON THE AUTHENTICITY OF WHAT MANY PEOPLE FEEL IS A MIRACLE OF GOD..... THE CLOTH, WITH ITS MYSTERIOUS FADED IMAGE OF WHAT APPEARS TO BE A MAN'S CRUCIFIED BODY, SPLASHED WITH BLOOD ..... THREE INDEPENDENT CARBON-14 DATING TESTS PERFORMED ON SMALL SAMPLES OF THE SHROUD .... SEEMED TO SHOW THAT THE CLOTH HAD BEEN WOVEN BETWEEN THE YEARS 1260 AND 1390, CENTURIES AFTER THE TIME OF JESUS. .... BUT FOR BELIEVERS, THE POWER OF A THREADBARE SCRAP OF CLOTH IS FAR MORE COMPELLING, AS ICONS AND HOLY PLACES USUALLY ARE. THAT MAY BE ILLOGICAL, BUT IT DOES NURTURE THE SOUL.

    TEXT: ON THAT NOTE, WE CONCLUDE THIS SAMPLING OF EDITORIAL COMMENT FROM THE PAGES OF MONDAY'S U-S PRESS.
    NEB/ANG/KL
    27-Apr-98 10:42 AM EDT (1442 UTC)
    NNNN
    Source: Voice of America


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

    DATE=4/27/98
    TYPE=CORRESPONDENT REPORT
    NUMBER=2-230329
    CONTENT=
    VOICED AT:

    INTRO: STOCK PRICES IN THE UNITED STATES WERE DOWN SHARPLY TODAY (MONDAY) AS TRADERS SHOWED GROWING CONCERN ABOUT U-S INTEREST RATES AND STOCK VALUATIONS. VOA CORRESPONDENT BRECK ARDERY REPORTS FROM NEW YORK.

    TEXT: THE DOW JONES INDUSTRIAL AVERAGE CLOSED AT 89 HUNDRED 17, DOWN 147 POINTS OR MORE THAN ONE AND ONE-HALF PERCENT. THE STANDARD AND POOR'S 500 INDEX CLOSED AT ONE THOUSAND 86, DOWN 21 POINTS.

    ANALYSTS SAY AN ARTICLE IN THE "WALL STREET JOURNAL" MADE STOCK TRADERS NERVOUS. THE ARTICLE SAYS GOVERNORS OF THE FEDERAL RESERVE BOARD -- THE U-S CENTRAL BANK -- MAY RAISE SHORT TERM INTEREST RATES AT A MEETING NEXT MONTH (MAY 19TH). RISING INTEREST RATES ARE INVARIABLY BAD FOR STOCKS. IN ADDITION, SOME INVESTMENT MANAGERS ARE SAID TO HAVE CONCLUDED THAT MANY STOCKS ARE CURRENTLY OVER-VALUED IN RELATION TO EXPECTED EARNINGS.

    ///REST OPT///

    ///BEGIN OPT///

    DESPITE THE SHARP SELL-OFF IN STOCKS, MOST ANALYSTS AGREE THAT THE SELLING IS A DOWNWARD CORRECTION, NOT THE START OF A PROLONGED DOWN, OR "BEAR" MARKET. AL GOLDMAN OF THE A-G EDWARDS INVESTMENT COMPANY SAYS THERE IS CERTAINLY NO REASON FOR PANIC SELLING.

    ///GOLDMAN ACT///

    ///OPT///

    ALL OF US, BIG, SMALL AND INDIVIDUAL INVESTORS SHOULD SIT BACK AND LOOK AT THE BIG PICTURE. THE MARKET IS UP 22 PERCENT FROM ITS LOWS IN JANUARY SO THE PULLBACK TODAY AND LAST WEEK IS REALLY JUST A VERY NORMAL CORRECTION.///END OPT///

    ///END ACT///

    THE GOVERNMENT REPORTED SALES OF EXISTING HOMES IN THE UNITED STATES ROSE TO A NEW RECORD LAST MONTH, SPURRED BY A STRONG JOB MARKET AND CONTINUED LOW MORTGAGE INTEREST RATES.

    BOEING AIRCRAFT COMPANY CHAIRMAN PHIL CONDIT FACED ANGRY STOCKHOLDERS AT THE CORPORATION'S ANNUAL MEETING. CHRONIC PRODUCTION PROBLEMS HAVE COST BOEING ALMOST THREE BILLION DOLLARS AND LED TO THE COMPANY'S FIRST ANNUAL LOSS IN 50 YEARS. HOWEVER, MR. CONDIT PROMISED CHANGES TO PUT THE COMPANY BACK ON A GROWTH PATH AND FORECAST THAT GLOBAL DEMAND FOR COMMERCIAL AIRCRAFT WILL CONTINUE TO RISE.

    LUCENT TECHNOLOGIES WILL PAY ONE BILLION DOLLARS IN CASH TO ACQUIRE YURIE SYSTEMS, A MAKER OF ELECTRONIC NETWORKING EQUIPMENT.

    THE DANAHER CORPORATION WHICH MAKES HAND TOOLS AND INDUSTRIAL EQUIPMENT WILL ACQUIRE THE FLUKE CORPORATION IN A DEAL WORTH 625 MILLION DOLLARS. FLUKE IS A LEADING MAKER OF ELECTRONIC TESTING TOOLS.

    JAMES HOFFA JUNIOR, WILL AGAIN BE ABLE TO SEEK THE PRESIDENCY OF THE TEAMSTERS UNION. A COURT-APPOINTED UNION MONITOR DECIDED THAT MR. HOFFA DID NOT ENGAGE IN LARGE SCALE IMPROPRIETIES IN HIS LOSING CAMPAIGN TWO YEARS AGO. MR. HOFFA IS THE SON OF THE LATE TEAMSTERS LEADER WHO WAS CONVICTED IN THE 1960'S ON FEDERAL RACKETEERING CHARGES.(SIGNED)
    NEB/NY/BA/LSF
    27-Apr-98 4:56 PM EDT (2056 UTC)
    NNNN
    Source: Voice of America


    [11] NORTHERN IRELAND (L-ONLY) BY ANDRE DE NESNERA (LONDON)

    DATE=4/27/98
    TYPE=CORRESPONDENT REPORT
    NUMBER=2-230297
    CONTENT=
    VOICED AT:

    INTRO: BRITISH PRIME MINISTER TONY BLAIR HAS MET (EDS: MONDAY) GERRY ADAMS, PRESIDENT OF SINN FEIN -- THE POLITICAL WING OF THE IRISH REPUBLICAN ARMY. V-O-A'S ANDRE DE NESNERA REPORTS FROM LONDON IT WAS THEIR FIRST MEETING SINCE THE POLITICAL AGREEMENT ON NORTHERN IRELAND SEVERAL WEEKS AGO.

    TEXT: BRITISH OFFICIALS SAID THE MEETING WAS A SIMPLE "WORKING SESSION" AIMED AT DISCUSSING VARIOUS ISSUES STEMMING FROM THE NORTHERN IRELAND POLITICAL AGREEMENT APPROVED ON APRIL 10TH.

    SINN FEIN OFFICIALS SAID THEY DID NOT COME TO THE BRITISH PRIME MINISTER'S LONDON RESIDENCE TO REWRITE THE NORTHERN IRELAND ACCORD OR TO GAIN FURTHER CONCESSIONS. NEVERTHELESS, SINN FEIN PRESIDENT GERRY ADAMS DESCRIBED THE MEETING AS "POSITIVE AND CONSTRUCTIVE."

    // ADAMS ACT //

    WE DISCUSSED DEMILITARIZATION. WE DISCUSSED THE KILLING CAMPAIGN AGAINST CATHOLICS AND THE KILLING OF TWO YOUNG MEN RECENTLY. THE UPCOMING ORANGE (PROTESTANT) MARCHING SEASON AND OUR CONCERNS ABOUT EVENTS ON THE GROUND IN TERMS OF WHAT THE BRITISH ARMY AND THE R-U-C (EDS: ROYAL ULSTER CONSTABULARY -- THE NORTHERN IRELAND POLICE FORCE) WERE AT.

    // END ACT //

    MR. ADAMS SAID SINN FEIN WILL ALWAYS BE CONSTRUCTIVE IN CHARTING A COURSE FOR THE FUTURE. HOWEVER, OF ALL THE POLITICAL PARTIES INVOLVED IN NEGOTIATING THE RECENT NORTHERN IRELAND POLITICAL ACCORD, SINN FEIN IS THE ONLY ONE NOT FULLY SUPPORTING THE AGREEMENT. ITS LEADERSHIP HAS GIVEN IT A QUALIFIED ENDORSEMENT -- BUT SINN FEIN OFFICIALS SAY A DEFINITIVE 'YES' OR 'NO' VOTE CAN ONLY BE GIVEN AT A PARTY CONFERENCE. ONE SUCH MEETING FAILED TO RESOLVE THE ISSUE -- ANOTHER ONE IS SCHEDULED MAY 10TH.

    JOHN ALDERDICE -- LEADER OF THE NON-SECTARIAN "ALLIANCE" PARTY -- AND A SUPPORTER OF THE ACCORD, SAYS HE HOPES SINN FEIN MEMBERS ACCEPT THE AGREEMENT.

    // ALDERDICE ACT //

    THERE HAVE BEEN SOME SUGGESTIONS THAT THEY MIGHT -- GERRY ADAMS HAS SUGGESTED -- THEY MIGHT SUPPORT SOME PART OF THE AGREEMENT AND NOT OTHERS. OF COURSE YOU CANNOT DO THAT WITH AN AGREEMENT. YOU EITHER SUPPORT IT OR YOU DO NOT. SO IT IS NOT COMPLETELY CERTAIN WHAT THEIR POSITION WILL BE. //OPT// WE VERY MUCH HOPE THAT THEY WILL COME OUT AND SUPPORT IT, BECAUSE THAT WOULD STRENGTHEN THE AGREEMENT AND MAKE ALL SORTS OF THINGS POSSIBLE. WE HOPE THAT THEY DO. //END OPT//

    // END ACT //

    MEANWHILE IN NORTHERN IRELAND, CAMPAIGNING BOTH FOR AND AGAINST THE POLITICAL AGREEMENT IS ALREADY UNDERWAY AS THE MAY 22ND REFERENDUM APPROACHES. BRITISH OFFICIALS SAY PRIME MINISTER TONY BLAIR IS EXPECTED TO VISIT THE PROVINCE AT LEAST TWICE BEFORE THE BALLOTING. (SIGNED)
    NEB/ADEN/PCF/KL
    27-Apr-98 11:19 AM EDT (1519 UTC)
    NNNN
    Source: Voice of America


    [12] SAF/NORTHERN IRELAND (S ONLY) CQ BY ALEX BELIDA (JOHANNESBURG)

    DATE=4/27/98
    TYPE=CORRESPONDENT REPORT
    NUMBER=2-230298
    CONTENT=
    VOICED AT:
    /// RE-ISSUING TO NAME, IN LAST LINE OF FIRST GRAF OF TEXT, STATE WHERE PHOSA IS PREMIER ///

    INTRO: THE "AFRICAN NATIONAL CONGRESS" IN SOUTH AFRICA WILL SOON SEND A HIGH-POWERED DELEGATION TO NORTHERN IRELAND TO HELP IMPLEMENT THE RECENT PEACE AGREEMENT THERE. V-O-A JOHANNESBURG CORRESPONDENT ALEX BELIDA REPORTS ON THE MOVE BY SOUTH AFRICA'S RULING POLITICAL ORGANIZATION.

    TEXT: THE AFRICAN NATIONAL CONGRESS SAYS ITS DECISION TO SEND A DELEGATION TO NORTHERN IRELAND COMES AT THE REQUEST OF THE BRITISH LABOUR PARTY AND SINN FEIN, THE POLITICAL WING OF THE IRISH REPUBLICAN ARMY. IT SAYS THE DELEGATION WILL INCLUDE TWO CABINET MINISTERS -- CONSTITUTIONAL DEVELOPMENT MINISTER VALLI MOOSA AND TRANSPORTATION MINISTER MAC MAHARAJ -- AS WELL AS FORMER A-N-C SECRETARY-GENERAL CYRIL RAMAPHOSA AND STATE (MPUMALANGA) PREMIER MATHEWS PHOSA.

    ALL FOUR PLAYED A LEADING ROLE IN THE NEGOTIATIONS THAT LED TO SOUTH AFRICA'S TRANSFORMATION FROM APARTHEID AND THE COUNTRY'S FIRST DEMOCRATIC ELECTIONS IN 1994.

    MR. PHOSA TELLS THE "JOHANNESBURG STAR" NEWSPAPER THAT IN ADDITION TO TALKS WITH ALL THE POLITICAL PARTIES INVOLVED IN THE NORTHERN IRELAND PEACE PROCESS, THE DELEGATION INTENDS TO MEET I-R-A PRISONERS. (SIGNED)
    NEB/BEL/PCF
    27-Apr-98 11:42 AM EDT (1542 UTC)
    NNNN
    Source: Voice of America


    [13] SENATE / NATO (L) BY DAVID SWAN (CAPITOL HILL)

    DATE=4/27/98
    TYPE=CORRESPONDENT REPORT
    NUMBER=2-230314
    CONTENT=
    VOICED AT:

    INTRO: THE U-S SENATE HAS RESUMED DEBATE ON THE EASTWARD EXPANSION OF NATO, WHICH WOULD GIVE THE ALLIANCE ITS FIRST MEMBERS FROM THE OLD WARSAW PACT. V-O-A'S DAVID SWAN REPORTS, THE LAWMAKERS ARE LIKELY TO ENDORSE THE PROPOSAL, DESPITE WORRIES ABOUT ITS COST AND ITS IMPACT ON RUSSIA.

    TEXT: WHILE THE PLAN IS EXPECTED TO PASS, THE ADMINISTRATION IS TAKING PAINS TO SHOW CONCERN AND NOT APPEAR OVERCONFIDENT. DEFENSE SECRETARY WILLIAM COHEN VISITED CAPITOL HILL (MONDAY) TO PUSH THE EXPANSION TREATY, TELLING REPORTERS AND SENATORS ITS DEFEAT WOULD BE A DISASTER.

    /// COHEN ACT ///

    FOR THE UNITED STATES TO NOW REJECT IT I THINK WOULD BE VERY DESTRUCTIVE AND CAST A PALL OVER THE ORGANIZATION ITSELF THAT WOULD BE, I THINK, DETRIMENTAL TO OUR INTERESTS FOR YEARS TO COME. SO I CAN'T STRESS ENOUGH THE IMPORTANCE OF MOVING FORWARD.

    /// END ACT ///

    BUT OPPONENTS USE SIMILAR LANGUAGE TO WARN OF THE DANGERS OF ENLARGEMENT, ESPECIALLY ITS EFFECT ON RELATIONS WITH RUSSIA. SOME RAISE THE SPECTER OF HEIGHTENED TENSIONS AND EVEN NUCLEAR CONFLICT BETWEEN WASHINGTON AND MOSCOW. DEMOCRATIC SENATOR PAUL WELLSTONE SAYS, AT THE VERY LEAST, EXPANDING NATO WILL UNDERMINE DEMOCRATIC FORCES AND STRENGTHEN RUSSIAN NATIONALISTS.

    /// WELLSTONE ACT ///

    I FEAR THAT PEOPLE IN RUSSIA FEEL BETRAYED BY THIS, AND I AM EVEN MORE FRIGHTENED THAT THE VERY FORCES THAT WE DO NOT WANT TO SEE IN POWER IN A POST-YELTSIN RUSSIA -- AND THERE'LL BE A POST-YELTSIN RUSSIA -- WILL COME INTO ASCENDANCY AS A RESULT OF THIS.

    /// END ACT ///

    CRITICS CHARGE ENLARGEMENT WILL BURDEN AMERICAN TAXPAYERS AND DRAG THE NATION INTO CONFLICTS WHERE IT HAS NO INTEREST. REPUBLICAN SENATOR JOHN WARNER SAYS THE PLAN WILL HURT NATO'S FUNDAMENTAL MISSION, COLLECTIVE DEFENSE.

    /// WARNER ACT ///

    I CHALLENGE ANY SENATOR TO POINT OUT ANOTHER ALLIANCE, ANOTHER MILITARY TREATY THAT HAS SERVED THE AMERICAN PEOPLE, THAT HAS SERVED EUROPE, THAT HAS SERVED THE CAUSE OF PEACE IN HALF THE WORLD BETTER THAN THIS. AND IF IT WORKS, IT WORKS WELL, WHY TRY TO FIX IT?

    /// END ACT ///

    MR. WARNER IS SPONSORING THE MOST CONTROVERSIAL AMENDMENT TO THE TREATY, ONE THAT WOULD PLACE A MORATORIUM ON ANY SECOND ROUND OF EXPANSION. BUT DEMOCRATIC LEADER TOM DASCHLE PREDICTS THE SENATE WILL TURN BACK ALL THE PROPOSED CHANGES -- AND PROVIDE MORE THAN ENOUGH VOTES TO RATIFY ENLARGEMENT.

    /// DASCHLE ACT ///

    I THINK THAT THERE'S A STRONG BIPARTISAN COALITION THAT WANTS TO SEE THIS TREATY PASS THIS WEEK AND I BELIEVE IT WILL.

    /// END ACT ///

    THE SENATE IS SPENDING VIRTUALLY ALL ITS TIME ON NATO FOR THE NEXT FEW DAYS. THE FINAL VOTE COULD COME WEDNESDAY NIGHT OR THURSDAY MORNING. (SIGNED)
    NEB/DS/WDC/KL
    27-Apr-98 2:49 PM EDT (1849 UTC)
    NNNN
    Source: Voice of America


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