Voice of America, 98-05-19

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

CONTENTS

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

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

[03] NORTHERN IRELAND TUESDAY (L UPDATE) BY GIL BUTLER (BELFAST)

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

[05] YUGO CRISIS (L-ONLY) BY PAMELA TAYLOR (PRAGUE)

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

INTRO: THE MAJOR STOCK MARKETS OF WESTERN EUROPE REVERSED RECENT TRENDS AND ALL CLOSED HIGHER TUESDAY. PAUL FRANCUCH IN LONDON HAS THE CLOSING FIGURES.

TEXT: HIGHER PRICES ON WALL STREET COUPLED WITH PREDICTIONS THE U-S FEDERAL RESERVE WOULD NOT RAISE INTEREST RATES WERE CITED BY MARKET ANALYSTS FOR THE GAINS ON EUROPEAN MARKETS.

THE BIGGEST JUMP CAME ON THE FRANKFURT "DAX," WHICH ADDED NEARLY TWO-PERCENT VALUE FOR THE DAY WITH A 97-POINT GAIN. JUST UNDER ONE-PERCENT GAINS WERE REGISTERED IN LONDON AND PARIS, WHERE THE "FINANCIAL TIMES" 100 INDEX CLOSED UP 51-AND-ONE-HALF POINTS AND THE "CAC 40" GAINED 35-AND-ONE-HALF-POINTS.

IN CURRENCY TRADING, THE U-S DOLLAR WAS DOWN SLIGHTLY AGAINST THE GERMAN MARK AND WAS VIRTUALLY UNCHANGED AGAINST THE BRITISH POUND.

GOLD PRICES IN LONDON REMAINED STEADY AT JUST UNDER 300-DOLLARS AN OUNCE. (SIGNED)
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19-May-98 2:13 PM EDT (1813 UTC)
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Source: Voice of America

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

INTRO: STOCK PRICES IN THE UNITED STATES WERE UP TODAY (TUESDAY), ALTHOUGH STRONG GAINS EARLY IN THE DAY EVAPORATED AFTER AN ANNOUNCEMENT BY THE U-S CENTRAL BANK. V-O-A'S CORRESPONDENT BRECK ARDERY REPORTS FROM NEW YORK.

TEXT: THE DOW JONES INDUSTRIAL AVERAGE CLOSED AT NINE THOUSAND 54, UP THREE POINTS. THE STANDARD AND POOR'S 500 INDEX CLOSED AT 11 HUNDRED NINE, UP THREE POINTS.

ANALYSTS SAY TUESDAY'S TRADING WAS A CLASSIC EXAMPLE OF THE WALL STREET PHILOSOPHY TO "BUY THE RUMOR AND SELL THE NEWS." STOCKS WERE UP STRONGLY WITH THE INDUSTRIAL AVERAGE GAINING MORE THAN 50 POINTS UNTIL MID-AFTERNOON. AT THAT POINT, THE U-S CENTRAL BANK ANNOUNCED THAT, AS WALL STREET EXPECTED, IT WILL NOT BE RAISING INTEREST RATES RIGHT NOW. AFTER HEARING THAT NEWS, TRADERS STARTED SELLING.

JOHN RIDING, ECONOMIST AT THE BEAR STERNS INVESTMENT COMPANY, SAYS THERE WAS NO COMPELLING REASON TO RAISE INTEREST RATES AND MANY REASONS NOT TO.

THERE ARE SIGNS THE ECONOMY IS SLOWING, BOTH IN JOB CREATION AND IN MANUFACTURING PRODUCTION AND THE PROBLEMS IN ASIA MAY BE BUILDING. SO, WITH THOSE UNCERTAINTIES OUT THERE AND INFLATION AT THE LOWEST LEVEL IN 30 YEARS, THERE IS JUST NO COMPELLING REASON TO MOVE (RAISE RATES) AT THIS POINT.

THE RATE OF NEW HOME CONSTRUCTION IN THE UNITED STATES DROPPED IN APRIL FOR THE SECOND STRAIGHT MONTH. ANALYSTS SAY PART OF THE SLOWDOWN CAN BE BLAMED ON DIFFICULTIES IN OBTAINING SUFFICIENT LABOR AND SUPPLIES.

A JOINT VENTURE WILL ALLOW PHOTOGRAPHERS TO RECEIVE THEIR FINISHED PICTURES VIA THE COMPUTER INTERNET. THE EASTMAN KODAK FILM COMPANY AND THE AMERICA ON-LINE COMPUTER SERVICE FIRM ARE OFFERING A SERVICE IN WHICH DIGITAL PHOTOS WILL BE RETURNED TO CUSTOMERS ELECTRONICALLY WITHIN 48 HOURS AFTER THE FILM IS DELIVERED TO PARTICIPATING RETAILERS.

DEERE AND COMPANY, THE FARM AND CONSTRUCTION EQUIPMENT FIRM, REPORTED RECORD QUARTERLY PROFITS.

THE CAMPBELL SOUP COMPANY REPORTED A 90 MILLION DOLLAR QUARTERLY LOSS DUE TO A ONE-TIME RESTRUCTURING CHARGE. HOWEVER, CAMPBELL SAYS IT PLANS TO RETURN TO PROFITABILITY WITH NEW PRODUCTS AND PROMOTIONS.

THE BOSTON CHICKEN RESTAURANT CHAIN REPORTED A QUARTERLY LOSS AND SAID IT MAY NOT BE ABLE TO MEET ITS DEBT PAYMENTS. HOWEVER, THE COMPANY SAYS IT IS OPTIMISTIC IT CAN AVOID BANKRUPTCY BY RENEGOTIATING ITS DEBT WITH MAJOR LENDERS.(SIGNED) NEB/NY/BA/LSF/PT
19-May-98 4:54 PM EDT (2054 UTC)
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Source: Voice of America

[03] NORTHERN IRELAND TUESDAY (L UPDATE) BY GIL BUTLER (BELFAST)

INTRO: NORTHERN IRELAND IS PREPARING FOR A CRUCIAL VOTE ON FRIDAY FOR OR AGAINST A PEACE AGREEMENT WORKED OUT LAST MONTH. IT IS DESIGNED TO BRING A MEASURE OF HOME RULE TO THE BRITISH PROVINCE AND AN END TO INTER-COMMUNAL STRIFE. BOTH PROPONENTS AND OPPONENTS OF THE PLAN ARE GOING ALL OUT TO WIN OVER UNDECIDED VOTERS. V-O-A'S GILBUTLER IS IN BELFAST AND HAS A REPORT.

TEXT: THE LOCAL NEWSPAPER, THE BELFAST TELEGRAPH, PUBLISHED RESULTS OF A POLL SHOWING 25 PER CENT OF THE VOTERS ARE UNDECIDED. THE POLL SHOWS JUST OVER HALF SAYING THEY WILL VOTE YES AND 20 PER CENT SAYING THEY WILL VOTE NO. AGREEMENT BACKERS HAD WANTED AN OVERWHELMING MANDATE TO IMPLEMENT THE TERMS OF THE PEACE AGREEMENT.

THE VOTE YES SIDE STAGED A ROCK CONCERT IN BELFAST WITH IRISH GROUP U2 AND NORTHERN IRELAND'S ASH PERFORMING. THEN THE PROTESTANT ULSTER UNIONIST LEADER DAVID TRIMBLE AND CATHOLIC POLITICAL LEADER JOHN HUME WERE INTRODUCED BY U2'S LEAD SINGER, BONO.

IN A WEEK WHERE HISTORY IS BEING MADE. I WOULD LIKE TO INTRODUCE YOU TO TWO MEN WHO ARE MAKING HISTORY..MAKING THIS HISTORY.

DAVID TRIMBLE EARLIER TOLD A NEWS CONFERENCE WHAT HE SAW AS THE SYMBOLISM OF THE CONCERT WHICH BROUGHT 2000 CATHOLIC AND PROTESTANTS CHOOL CHILDREN TOGETHER.

ONE OF MY CHILDREN WILL BE IN THE AUDIENCE IN THIS CONCERT TONIGHT AND SHE, TOGETHER WITH A COUPLE OF THOUSAND YOUNG PEOPLE HERE IN NORTHERN IRELAND TONIGHT, WILL BE ABLE TO DO WHAT WE HAVE WANTED OURCHILDREN TO BE ABLE TO DO THROUGHOUT THE LAST 30 YEARS.

THE YES SIDE ALSO GOT SUPPORT FROM BUSINESSMEN--ONE OF THEM, THE OWNER OF A LEADING HOTEL CHAIN--HOISTED A HUGE "YES" BANNER ON THE FRONT OF HIS DOWNTOWN BELFAST HOTEL. BUT OPPONENTS OF THE AGREEMENT WERE ALSO BUSY. THE ULSTER UNIONIST PARTY LEADERSHIP SPLIT WITH PROMINENT UNIONIST POLITICIANS PUBLICLY DENOUNCING THE AGREEMENT. THEY COMPLAIN THAT IT WILL GIVE I-R-A TERRORISTS A SEAT IN GOVERNMENT WITHOUT THEIR HAVING GIVEN UP THEIR WEAPONS. A LARGE GROUP OF PROTESTANT MINISTERS ALSO DENOUNCED THE AGREEMENT AND URGED A NO VOTE ON FRIDAY.

I BELIEVE, AS A CHRISTIAN, AN EVANGELICAL CHRISTIAN MINISTER, THAT IT IS PERFECTLY RIGHT FOR PEOPLE TO SAY NO.

NO ONE REALLY EXPECTS THAT THE AGREEMENT WILL SUFFER A DEFEAT IN NORTHERN IRELAND WHILE BEING APPROVED OVERWHELMINGLY IN THE REPUBLIC OF IRELAND. BUT PROPONENTS FEAR THAT WEAK SUPPORT AMONG THE PROTESTANT UNIONIST COMMUNITY WILL MAKE SETTING UP AN EFFECTIVE GOVERNMENT DIFFICULT IF NOT IMPOSSIBLE.(SIGNED)
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19-May-98 5:39 PM EDT (2139 UTC)
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Source: Voice of America

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

INTRO: ONE OF THE LARGEST LEGAL BATTLES IN YEARS, BETWEEN THE UNITED STATES GOVERNMENT AND THE MICROSOFT COMPUTER SOFTWEAR COMPANY -- CONSIDERED A MONOPOLY BY THE GOVERNMENT -- IS FILLING THE EDITORIAL PAGES OF THE NATION'S NEWSPAPERS THIS TUESDAY.

THE OTHER POPULAR TOPIC IS THE UPHEAVAL IN INDONESIA, AND A THIRD; THE FRESH ALLEGATIONS ABOUT CHINESE MILITARY CONTRIBUTIONS TO THE CLINTON RE-ELECTION CAMPAIGN IN 1996. STILL OTHER COMMENTS CONCERN THE INDIAN-PAKISTAN NUCLEAR COMPETITION, AND NOW, HERE TO BRING US A FEW QUOTES AND A CLOSER LOOK IS _____________ AND TODAY'S EDITORIAL DIGEST.

TEXT: AS EXPECTED, THE U-S GOVERNMENT MONDAY FILED A PAIR OF SUITS AGAINST THE HUGE, WASHINGTON STATE-BASED COMPUTER SOFTWEAR MAKER MICROSOFT, CLAIMING THAT IT USES ITS MONOPOLY IN PERSONAL COMPUTER OPERATING SYSTEMS TO WIN CONTROL OF THE SPECIAL SOFTWEAR NEEDED TO FIND MATERIAL ON THE INTERNET, AND ITS MORE COMPLEX COUSIN, THE WORLD WIDE WEB.

MANY PEOPLE AROUND THE WORLD NOW HAVE PERSONAL COMPUTERS, WHICH CAN BE CONNECTED, BY TELEPHONE, TO BOTH THE INTERNET AND THE WORLD WIDE WEB, HUGE, GLOBAL LINKAGES, THAT PROVIDE INFORMATION AND PICTURES ON VIRTUALLY ANY SUBJECT, AND ARE USED BY MILLIONS OF PEOPLE TO COMMUNICATE. CONNECTING TO THEM, ONE MUST HAVE A COMPUTER PROGRAM TO HELP FIND WHAT ONE IS LOOKING FOR, OR THE VASTNESS OF THE INTERNET MAKES IT VIRTUALLY IMPOSSIBLE TO FIND SPECIFIC INFORMATION.

IN ITS TWO ANTI-TRUST SUITS, JOINED BY THE ATTORNEYS GENERAL OF 20 STATES, THE GOVERNMENT SAYS MICROSOFT IS TRYING TO FORCE COMPUTER MAKERS TO INCLUDE ITS INTERNET GUIDE [INTERNET EXPLORER] IN EVERY MACHINE THEY SELL, AND THEREBY FORCE THE ITS CHIEF COMPETITOR, NETSCAPE, AND OTHERS, OUT OF BUSINESS. BILL GATES, THE HEAD OF MICROSOFT DENIES THE CHARGES, ADDING HE IS BEING PUNISHED FOR HIS COMPANY'S PHENOMENAL SUCCESS.

HERE IS PART OF "THE MIAMI HERALD'S" LEAD EDITORIAL IN WHICH IT QUOTES A COMPETING COMPANY'S LAWYER WHICH COMPARES MICROSOFT'S BEHAVIOR TO A WELL-KNOWN, PREDATORY AMERICAN INSECT THAT MATES WITH AND THEN KILLS ITS PARTNER."THE HERALD" POINTS OUT:

VOICE: MICROSOFT'S SOFTWARE RUNS ABOUT 90-PERCENT OF NEW PC'S SOLD. ... A FIGHT IN COURT EASILY COULD LAST FIVE, EIGHT, 10-YEARS OR MORE. IN THE FASTPACED WORLD OF INFORMATION AND TECHNOLOGY, CHANGE COMES AT THE SPEED OF NANO-SECONDS. MICROSOFT IS ON TOP TODAY, BUT COULD BE AS OUTDATED AS VINYL [PHONOGRAPH] RECORDS IN A FEW YEARS. A PROTRACTED COURT FIGHT MIGHT, IN FACT, RESOLVE NOTHING AT ALL. BETTER TO SETTLE THIS DISPUTE BY TRUCE RATHER THAN WAR.

TEXT: IN NEW ENGLAND, "THE BOSTON GLOBE" SUGGESTS:

VOICE: IT WAS INEVITABLE THAT MICROSOFT'S DOMINANT ROLE WOULD COME UNDER [GOVERNMENT] SCRUTINY. WHILE MICROSOFT CONTENDS THAT ITS SUCCESS IS THE CONSEQUENCE OF PURE TECHNICAL ADVANTAGES, ITS 85-PERCENT SHARE OF THE MARKET HAS RAISED SERIOUS QUESTIONS ABOUT WHETHER IT HAS USED ITS EDGE [COMPETITIVE POSITION] UNFAIRLY TO SQUEEZE OUT COMPETITION.

TEXT: FOR ITS PART, "THE NEW YORK TIMES" SAYS THE LAWSUITS MAKE REASONABLE DEMANDS TO PRESERVE COMPETITION IN THE WORLD OF COMPUTERS ... AND SUGGESTS THAT -- BILL GATES NEEDS TO RESPOND WITH SOMETHING BETTER THAN DISINGENUOUS COUNTERCHARGES THAT HIS COMPANY IS BEING PUNISHED FOR ITS SUCCESS. TODAY'S "WALL STREET JOURNAL," HOWEVER, IS HIGHLY SKEPTICAL OF THE LAW SUIT'S MERITS, SUGGESTING THAT MARKET FORCES AND NOT THE FEDERAL GOVERNMENT SHOULD BE WHAT DETERMINES THE SUCCESS OR FAILURE OF PRODUCTS IN THE MARKETPLACE. LOOKING AT PREVIOUS, HISTORIC ANTI-TRUST SUITS, "THE JOURNAL" NOTES:

VOICE: IF WE WERE BILL GATES, WE WOULD SET UP AN ANNUITY TO PAY THE LAWYERS AND FORGET THE WHOLE THING. GO BACK TO THE BUSINESS OF RUNNING A SOFTWARE COMPANY. THE I-B-M ANTITRUST CASE LASTED 13-YEARS BEFORE BEING DISMISSED BY THE COURTS AS HOPELESSLY BRAINLESS. THIRTEEN YEARS IS ROUGHLY THE PERIOD BETWEEN THE APPLE TWO [PERSONAL COMPUTER] AND WINDOWS 95 [COMPUTER OPERATING SYSTEM] -- THE STONE AND BRONZE AGES OF THE PC [PERSONAL COMPUTER]. ... IN SHORT, WE DO NOT SEE MUCH HISTORY BEING MADE HERE. IT IS ALREADY TOO LATE. REGULATORS NEVER GOT THEIR HANDS AROUND THE COMPUTER INDUSTRY, AND NOW THE TECHNOLOGY IS MOVING SO FAST THEY NEVER WILL.

TEXT: AS REGARDS THE CHAOS IN INDONESIA, "USA TODAY" SAYS THE COUNTRY IS APPROACHING [THE] END OF [AN] ERA, IN ITS HEADLINE, ADDING:

VOICE: /// OPT /// FOR INDONESIA'S WILY PRESIDENT SUHARTO, RECENT EVENTS MUST SEEM LIKE A RERUN OF AN OLD MOVIE, WITH ONE CRITICAL DIFFERENCE: THREE DECADES AGO, AMID DESPERATE POVERTY, CHAOS AND BUTCHERY, HE WAS THE SHADOWY GENERAL WHO DISPLACED PRESIDENT SUKARNO, A LONG-SERVING NATIONAL HERO WHO HAD LOST TOUCH. FOR MONTHS NOW, IT HAS BEEN [MR.] SUHARTO WHO IS OUT OF TOUCH AND THREATENED. /// END OPT /// ...[MR.] SUHARTO'S ERA IS PLAYING OUT ITS LAST REEL, AS OTHERS HAVE BEFORE IT. FROM CHILE TO TAIWAN, PLACES ONCE RUN BY COLD WAR STRONGMEN AND THEIR CRONIES ARE REINVENTING THEMSELVES AS DEMOCRATIC AND ECONOMIC SUCCESS STORIES. ONLY WHERE DICTATORS HAVE SACRIFICED ECONOMIC PROGRESS TO RETAIN POWER DO THEY SURVIVE. SOONER OR LATER [MR.] SUHARTO WILL GO. BUT HE STILL CAN CHOOSE WHICH OF HIS LEGACIES TO PRESERVE AT THE END: ECONOMIC REFORMER ... OR BLOODY AUTOCRAT BENT ON SURVIVAL AT ANY COST.

TEXT: "THE MIAMI HERALD" CALLS WHAT IS GOING ON NOW, AND FOR THE PAST SEVERAL YEARS -- THE PILLAGING OF INDONESIA -- BUT WORRIES ABOUT WHAT COMES NEXT.

VOICE: THERE SEEMS TO BE LITTLE DOUBT THAT MR. SUHARTO'S DAYS IN OFFICE ARE NUMBERED, AND NOTHING BUT CONFUSION AS TO WHO MIGHT REPLACE HIM OR WHEN. AT 76, THE WILY MR. SUHARTO HAS SYSTEMATICALLY ELIMINATED OPPONENTS. NOW, IN HIS BID TO RE-ESTABLISH CONTROL, HE IS ROLLING BACK FUEL-PRICE INCREASES -- WHICH JEOPARDIZES THE INTERNATIONAL MONETARY FUND'S 40-BILLION-DOLLAR RESCUE PACKAGE -- ANNOUNCING A CABINET REORGANIZATION, AND WILL SPEAK TODAY TO THE NATION. IT IS, IT SEEMS, TOO LATE. ... JUST HOW MR. SUHARTO, THE GREAT REFORMER WHEN HE WRESTED CONTROL FROM MR. SUKARNO, RESCUING INDONESIA FROM COMMUNISM AND SUCCESSFULLY MODERNIZING IT, DEVOLVED INTO THE GREAT CORRUPTER IS SOMETHING FOR HISTORIANS TO EXPLAIN. WHAT IS CLEAR IS THAT INDONESIA'S BRAND OF 'CRONY CAPITALISM' FUNNELED MUCH OF THE COUNTRY'S WEALTH TO THE SUHARTO FAMILY, TRIGGERING THE NATION'S ECONOMIC COLLAPSE.

TEXT: THERE ARE FRESH ALLEGATIONS THAT A HIGH-RANKING CHINESE MILITARY AEROSPACE AND INTELLIGENCE OFFICER WAS ABLE TO GIVE 100-THOUSAND DOLLARS TO THE 1996 CLINTON PRESIDENTIAL CAMPAIGN, POSSIBLY INFLUENCING U-S DECISION TO ALLOW SATELLITE TECHNOLOGY TO BE SHARED WITH THE CHINESE. OF THIS, TODAY'S "WASHINGTON POST" SAYS THE CLINTON ADMINISTRATION HAS A LOT OF EXPLAINING TO DO.

VOICE: /// OPT /// A KEY MISSING PIECE IN THE INQUIRY INTO THE FINANCING OF THE 1996 ELECTIONS HAS FALLEN INTO PLACE. ... NOW FEDERAL PROSECUTORS HAVE SQUEEZED JOHNNY CHUNG, A CALIFORNIA CHINESE AMERICAN FUND-RAISER ... [WHO] ... REPORTEDLY HAS SAID HE RECEIVED FUNDS FROM CHINESE INTELLIGENCE AND PASSED ON 100-THOUSAND DOLLARS TO THE DEMOCRATIC PARTY. /// END OPT /// ... THE INVESTIGATION SHOULD OBVIOUSLY ... GO TO THE KNOWLEDGE OF VARIOUS ADMINISTRATION AND PARTY OFFICIALS AS TO WHAT WAS GOING ON AND THEIR POSSIBLE KNOWING COMPLICITY IN IT. ... THE RECIPIENTS OF ALL THIS ... MONEY MAY SURELY BE PRESUMED TO KNOW SOMETHING ABOUT WHO THEIR BENEFACTOR IS, WHAT HE IS AFTER - -... AND IF THEY DID NOT KNOW, DID THEY AT LEAST WONDER? AND IF THEY WONDERED, DID THEY NOT MAKE ANY EFFORT TO FIND OUT? THERE IS A LOT TO BE EXPLAINED.

TEXT: LASTLY, "NEWSDAY" WORRIES ABOUT THE POSSIBILITY OF A NUCLEAR ARMS RACE BETWEEN INDIA AND PAKISTAN, NOW THAT INDIA HAS EXPLODED FIVE NUCLEAR TEST BOMBS. THE LONG ISLAND PAPER SIGHS:

VOICE: FACE IT: THE NUCLEAR GENIE IS OUT OF THE BOTTLE IN THE INDIAN SUBCONTINENT AND TRYING TO PUT IT BACK WON'T WORK. INDIA HAS THE BOMB AND IT'S ONLY A MATTER OF TIME BEFORE NEIGHBORING PAKISTAN CONDUCTS ITS OWN TESTS AND DECLARES ITSELF A NUCLEAR POWER, TOO. CAN THIS BE STOPPED? IT'S UNLIKELY. ... WHAT [PRESIDENT] CLINTON CAN AND MUST DO IS MANAGE THE POLITICAL FALLOUT OF THE INDIAN TESTS AND, WITH CHINA'S HELP, WORK TO CONTAIN THE NUCLEAR GENIE IN EAST ASIA.

TEXT: ON THAT SOBERING NOTE, WE CONCLUDE THIS SAMPLING OF COMMENT FROM THE DAY'S U-S PRESS.
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19-May-98 11:08 AM EDT (1508 UTC)
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Source: Voice of America

[05] YUGO CRISIS (L-ONLY) BY PAMELA TAYLOR (PRAGUE)

INTRO: A CONSTITUTIONAL CRISIS DEEPENED IN YUGOSLAVIA'S FEDERAL REPUBLIC TUESDAY WHEN PRESIDENT SLOBODAN MILOSEVIC NOMINATED HIS PROTEGE FROM MONTENEGRO, MOMIR BULATOVIC, AS PRIME MINISTER. THE MOVE FOLLOWS THE OUSTER MONDAY OF THE FORMER FEDERAL PRIME MINISTER (EDS: RADOJE KONTIC) WHO WAS LOYAL TO MR. MILOSEVIC'S PRO-WESTERN RIVAL, MONTENEGRIN PRESIDENT MILO DJUKANOVIC. V-O-A'S PAMELA TAYLOR HAS MORE FROM OUR CENTRAL EUROPEAN BUREAU.

TEXT: IMMEDIATELY FOLLOWING THE NOMINATION, THE MONTENEGRIN PARLIAMENT VOTED NOT TO RECOGNIZE A NEW GOVERNMENT HEADED BY MR. BULATOVIC. THE LEGISLATORS CALLED THE OUSTER OF THE FORMER PRIME MINISTER ILLEGAL.

PRESIDENT MILOSEVIC'S MAIN RIVAL FOR POWER -- MONTENEGRO'S REFORMIST PRESIDENT, MILO DJUKANOVIC -- WARNS THAT THE POLITICAL CRISIS COULD BREAK UP WHAT REMAINS OF YUGOSLAVIA.

COMPOSED OF SIX REPUBLICS BEFORE A BRUTAL WAR OF SUCCESSION IN 1991, YUGOSLAVIA TODAY CONSISTS OF ONLY TWO: SERBIA AND MONTENEGRO.

IN LAST YEAR'S PRESIDENTIAL ELECTION IN MONTENEGRO, THE MORE MODERATE MR. DJUKANOVIC DEFEATED MOMIR BULATOVIC, CREATING THE FIRST SERIOUS CHALLENGE TO THE MILOSEVIC POWER BASE.

SHOULD THE MORE MODERATE CANDIDATES WIN PARLIAMENTARY ELECTIONS ON MAY 31ST, THE POWER OF SLOBODAN MILOSEVIC COULD BE EVEN FURTHER UNDERMINED.

OFFICIALS IN MONTENEGRO SAY THE SERBIAN LEADER IS DETERMINED HIS SUPPORTERS WILL WIN SO HE CAN PUSH THROUGH CONTROVERSIAL LEGISLATION TO CHANGE THE YUGOSLAV CONSTITUTION. MR. MILOSEVIC FAVORS DIRECT ELECTION OF THE PRESIDENCY VERSUS THE CURRENT METHOD IN WHICH THE PRESIDENT IS ELECTED BY PARLIAMENT AND CAN BE REMOVED FROM OFFICE BY A PARLIAMENTARY MAJORITY. (SIGNED)
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19-May-98 2:32 PM EDT (1832 UTC)
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Source: Voice of America

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