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Voice of America, 97-01-07

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

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


CONTENTS

  • [01] TUESDAY'S EDITORIALS BY DAN NOBLE (WASHINGTON)
  • [02] BELGRADE / CHRISTMAS EVE (L-ONLY) BY LAURA ROZEN (BELGRADE)
  • [03] BULGARIA POL (L) BY BARRY WOOD (PRAGUE)
  • [04] EURO STOCKS (S-ONLY) BY PAUL FRANCUCH (LONDON)

  • [01] TUESDAY'S EDITORIALS BY DAN NOBLE (WASHINGTON)

    DATE=1/7/97
    TYPE=U-S EDITORIAL DIGEST
    NUMBER=6-09962
    TELEPHONE=619-1014
    EDITOR=
    CONTENT=
    // EDITORS, PLEASE NOTE: THIS IS PERISHABLE MATERIAL AND BECOMES DATED AFTER 10 P-M E-S-T ON TUESDAY, JANUARY 7TH //

    INTRO: THE QUESTION OF DIPLOMATIC IMMUNITY, TRADE WITH CUBA, AND DEVELOPMENTS IN THE WEST BANK TOWN OF HEBRON ARE AMONG THE TOPICS DISCUSSED TODAY ON THE EDITORIAL PAGES OF SOME OF AMERICA'S LEADING NEWSPAPERS. WITH A CLOSER LOOK AT THESE AND OTHER SUBJECTS, HERE IS

    _________________ WITH TUESDAY'S EDITION OF VOA'S

    EDITORIAL DIGEST.

    TEXT: FRIDAY NIGHT, IN WASHINGTON D.C., A DIPLOMAT ATTACHED TO THE REPUBLIC OF GEORGIA'S EMBASSY WAS INVOLVED IN A TRAFFIC ACCIDENT RESULTING IN THE DEATH OF A TEENAGE GIRL. ACCORDING TO POLICE, THE DIPLOMAT WAS SPEEDING AND ALCOHOL MAY HAVE BEEN A FACTOR. THE LOS ANGELES TIMES NOTES THAT: "HAD HE BEEN AN AMERICAN CITIZEN OR A NON-DIPLOMAT FOREIGNER, HE PROBABLY WOULD BE LOOKING AT THE PROSPECT OF A LONG PRISON TERM. BUT BECAUSE HE HAS DIPLOMATIC IMMUNITY, ABOUT THE WORST PUNISHMENT HE FACES IS EXPULSION FROM THE UNITED STATES."

    VOICE: "IN CASES WHERE DIPLOMATS GET INTO TROUBLE OVERSEAS, MOST GOVERNMENTS, INCLUDING OUR OWN, ALMOST ALWAYS PREFER TO BRING THE ACCUSED PERSON HOME, TAKE DISCIPLINARY ACTION IF CALLED FOR AND PAY COMPENSATION WHEN THAT IS INDICATED. LIFTING AN ERRANT DIPLOMAT'S IMMUNITY IS A SERIOUS STEP THAT GOVERNMENTS ARE LOATH TO TAKE, BOTH BECAUSE OF THE PRECEDENT THAT WOULD BE SET AND THE POTENTIAL EFFECT ON THE MORALE OF OTHER DIPLOMATIC PERSONNEL. EFFECTIVE DIPLOMACY IS IMPOSSIBLE UNLESS A COUNTRY'S OFFICIAL REPRESENTATIVES ARE SECURE FROM ARREST, PROSECUTION OR CAPRICIOUS HARASSMENT UNDER THE CLOAK OF LAW. THAT'S WHY INTERNATIONAL COVENANTS PROVIDE FOR IMMUNITY. BUT IT'S PATENTLY AN ABUSE OF PRIVILEGE WHEN IMMUNITY SHIELDS THOSE WHO UNAMBIGUOUSLY VIOLATE THE CIVIL AND CRIMINAL LAWS."

    TEXT: AN EDITORIAL IN TODAY'S WASHINGTON POST COMMENTS ON ANOTHER CASE THAT -- IN THE NEWSPAPER'S WORDS -- "WHILE NOT TRAGIC IN ITS RESULTS, ALSO HAS INFLAMED EMOTIONS."

    VOICE: "TWO DIPLOMATS ASSIGNED TO THE UNITED NATIONS IN NEW YORK CITY, ONE RUSSIAN AND ONE FROM NEIGHBORING BELARUS, ENGAGED IN AN ALTERCATION WITH NEW YORK POLICEMEN. BOTH NATIONS HAVE FILED COMPLAINTS WITH THE U.S. STATE DEPARTMENT, ALLEGING ROUGH TREATMENT. BUT NEW YORK MAYOR RUDOLPH GIULIANI SAYS THAT THE TWO HAD PARKED AT A FIRE HYDRANT AND, WHEN CHALLENGED BY POLICE, ATTEMPTED TO DRIVE AWAY, ALTHOUGH THEY APPEARED TO BE INTOXICATED. THE CAR THEY WERE DRIVING HAD RECEIVED 386 SUMMONSES IN 1996.... DIPLOMATIC IMMUNITY DOES NOT MEAN, IT SHOULD BE STRESSED, THAT DIPLOMATS ARE FREE TO FLOUT A HOST COUNTRY'S LAWS. ON THE CONTRARY, U.S. DIPLOMATS OVERSEAS, AND FOREIGN DIPLOMATS HERE, ARE BOUND, BY THE SAME TREATY, TO OBEY LOCAL RULES. WHEN THEY DO NOT, THE HOST COUNTRY CAN ASK FOR THE OFFENDER'S GOVERNMENT TO WAIVE DIPLOMATIC IMMUNITY. FAILING THAT, DIPLOMATIC CRIMINALS CAN ONLY BE ASKED TO LEAVE."

    TEXT: PRESIDENT CLINTON HAS DECIDED TO EXTEND BY ANOTHER SIX MONTHS THE MORATORIUM ON A PORTION OF THE SO-CALLED HELMS-BURTON ACT. THE PRESIDENT'S ACTION TO SUSPEND TITLE III OF THE LEGISLATION "WILL HAVE THE EFFECT OF DISALLOWING LAWSUITS BY CUBAN-AMERICANS AGAINST FOREIGN COMPANIES INVESTING IN CUBA OR MAKING USE OF PROPERTIES EXPROPRIATED BY FIDEL CASTRO'S REGIME AFTER ITS 1959 REVOLUTION. NEW YORK'S "NEWSDAY" CALLS MR. CLINTON'S MOVE "A STEP IN THE RIGHT DIRECTION."

    VOICE: "THE ANTITRADE PROVISIONS HAD PROMPTED FURIOUS REACTIONS AMONG WASHINGTON'S CLOSEST ALLIES AND TRADING PARTNERS. THEY HAD STRAINED RELATIONS SEVERELY WITH CANADA, FRANCE, ENGLAND AND SPAIN. AND THEY LED TO FORMAL CONDEMNATIONS, AT THE UNITED NATIONS AND IN THE EUROPEAN UNION, OF U.S. POLICY TOWARD CUBA. THE SIGNING OF HELMS-BURTON, WHICH CLINTON HAD VIGOROUSLY OPPOSED EARLY ON, FOR GOOD REASONS, WAS ONE OF HIS LESS FELICITOUS MOMENTS, A REACTIVE IMPULSE PROMPTED BY REELECTION CALCULATIONS, NOT BY THE NATION'S BEST FOREIGN POLICY INTERESTS. (///OPT///) CLINTON SHOULD NOW RETHINK HIS ENTIRE CUBA POLICY AND RESUME THE TENTATIVE MOVES BEGUN AT THE START OF HIS FIRST TERM TOWARD NORMALIZING RELATIONS WITH HAVANA." (///END OPT///)

    TEXT: THE BOSTON GLOBE HAS THIS TO SAY ABOUT REACTION TO AMERICAN PRESIDENT'S DECISION REGARDING HELMS-BURTON.

    VOICE: "SEN. JESSE HELMS OF NORTH CAROLINA CALLED CLINTON'S MANEUVER TO PREVENT LAWSUITS BEING FILED 'A TERRIBLE MISTAKE'. HELMS, WHO ACTS INDIFFERENT TO THE PROSPECT OF CALAMITOUS CONFLICT WITH AMERICA'S PRINCIPAL ALLIES AND TRADING PARTNERS, CASTIGATED MEXICO AND CANADA IN PARTICULAR FOR CONDUCTING 'SHAMEFUL CUBA POLICIES'. THE XENOPHOBIC CHAIRMAN OF THE SENATE FOREIGN RELATIONS COMMITTEE HARDLY CARES THAT ALLIES WHOSE COMPANIES WOULD BE AFFECTED BY TITLE III HAVE DRAWN UP LEGISLATION TO ALLOW THEIR COMPANIES TO RETALIATE FOR HELMS-BURTON BY SUING US NATIONALS IN THE COURTS OF EUROPE, CANADA OR MEXICO."

    TEXT: IN ITS LEAD EDITORIAL TODAY, THE PHILADELPHIA INQUIRER TELLS READERS THAT "NEGOTIATIONS BETWEEN ISRAELIS AND PALESTINIANS OVER THE FUTURE OF THE WEST BANK CITY OF HEBRON ARE A TEST OF WHETHER THE MIDEAST PEACE PROCESS CAN CONTINUE."

    VOICE: "THE TWO IMMEDIATE ISSUES -- WHETHER ISRAEL WILL WITHDRAW ITS TROOPS FROM MOST OF HEBRON, AND HOW TO PROTECT THE 450 ISRAELI SETTLERS WHO CHOOSE TO REMAIN -- HAVE LARGELY BEEN RESOLVED. IN A SENSE, THAT'S THE EASY PART. THE TALKS HAVE DRAGGED ON BECAUSE THE UNDERLYING ISSUES ARE MUCH MORE DIFFICULT. WILL ISRAELI PRIME MINISTER BENJAMIN NETANYAHU CONTINUE ON WITH THE OSLO PEACE PROCESS, AND FOLLOW IT THROUGH TO ITS LOGICAL CONCLUSION -- A TERRITORIAL DIVISION OF THE WEST BANK BETWEEN ISRAELI AND THE PALESTINIANS? OR WILL THE PROCESS STOP IN HEBRON? PALESTINIAN LEADER YASIR ARAFAT OUGHT TO SWALLOW HARD AND ACCEPT THE HEBRON DEAL AS IS -- EVEN THOUGH HE HAD GOOD REASON TO HESITATE.... HE DOESN'T TRUST THE ISRAELI LEADER, SO HE SEEKS GUARANTEES THAT ISRAEL WILL KEEP THE OSLO PROMISE TO CARRY OUT THREE FURTHER WITHDRAWALS BY NEXT SEPTEMBER. THOSE WITHDRAWALS ARE ESSENTIAL IF ORDINARY PALESTINIANS ARE EVER TO RESUME A NORMAL ECONOMIC LIFE. BOTH MEN NEED TO RECOGNIZE THE GREATER DANGER EACH FACES IF THEY FAIL TO REACH A COMPROMISE VERY SOON."

    VOICE: BUT, A.M. ROSENTHAL, IN HIS COLUMN WHICH APPEARS IN THE NEW YORK TIMES, OFFERS THE VIEW THAT "THE DELAY IN SIGNING AN AGREEMENT ON HEBRON IS FAR MORE THE RESULT OF YASIR ARAFAT'S STRATEGY THAN BENJAMIN NETANYAHU'S."

    VOICE: "WHEN MR. ARAFAT'S LATEST ROADBLOCK MADE THAT CLEAR, HE MADE AN IMPORTANT STATEMENT: 'THERE ARE MORE BURNING ISSUES THAN SIGNING AN AGREEMENT.' EXACTLY -- AND MR. ARAFAT HAS KNOWN THIS ALL ALONG. BUT FOR THREE MONTHS, THE ISSUE OF HOW AND WHEN THE ISRAELIS SHOULD PULL OUT OF THE LAST MAJOR WEST BANK TOWN NOT YET TURNED OVER TO THE PALESTINIANS HAS BEEN BLOWN UP BY THE WEST AND THE ARABS AS DESPERATELY CRITICAL.... NO AGREEMENT ON ISRAELI EVACUATION OF A PARTICULAR TOWN OR PATCH OF COUNTRYSIDE CAN BRING PEACE UNLESS CONDITIONS FOR PEACE CAN BE MET. THEY ARE ENDURING SECURITY, RECIPROCITY AND NATIONAL COMMITMENTS TO MOVE TOWARD PEACE, NOT USE THE AGREEMENT TO MOUNT MORE PRESSURES, MORE THREATS. THIS IS NOT A SUDDEN REVELATION BUT AT LEAST A HALF-CENTURY OLD."

    TEXT: A FEW DAYS AGO, LETTER BOMBS, POSTMARKED IN ALEXANDRIA, EGYPT, WENT TO THE WASHINGTON BUREAU OF AL-HAYAT, A JOURNAL THAT THE BALTIMORE SUN CALLS "THE MOST RELIABLE NEWSPAPER IN THE ARAB WORLD."

    VOICE: "THE TERRORISTS AND THE FREE NEWSPAPER BOTH FLOURISH BECAUSE THEY LIVE IN A POST-NATIONAL AGE. THEY CROSS BORDERS WITH HIGH-TECH COMMUNICATIONS THAT ELUDE CENSORSHIP. THEY CAN BE SUPPRESSED IN ONE PLACE AND POP UP IN ANOTHER. THE VICTIMS OF TERRORISM ARE RANDOM AND ANYWHERE. TERRORISTS CLAIM PROVOCATION, SUCH AS THE SUPPRESSED ELECTION IN ALGERIA, OR CLAIM ALTRUISTIC MOTIVE, AS DO THE TUPAC AMARU KIDNAPPERS IN PERU. BUT MARCHING IN THE STREET IS NOT TERRORISM, AND BLOWING UP BOMBS IS NOT PEACEFUL PROTEST. LAW ENFORCEMENT, TO SUPPRESS KILLING AND MAIMING BY TERRORIST, MUST CROSS BORDERS AS EASILY AS THEY DO. ONLY THE UTMOST IN COOPERATION IS A MATCH FOR THEM."

    TEXT: ON THAT NOTE, WE CONCLUDE THIS BRIEF SAMPLING OF OPINION FROM THE PAGES OF TUESDAY'S U-S PRESS.
    07-Jan-97 10:31 AM EST (1531 UTC)
    NNNN
    Source: Voice of America


    [02] BELGRADE / CHRISTMAS EVE (L-ONLY) BY LAURA ROZEN (BELGRADE)

    DATE=1/6/97
    TYPE=CORRESPONDENT REPORT
    NUMBER=2-208308
    CONTENT=
    VOICED AT:

    INTRO: MORE THAN 100-THOUSAND PRO-DEMOCRACY SUPPORTERS GATHERED AT SERBIA'S MAIN CATHEDRAL MONDAY TO CELEBRATE SERBIAN ORTHODOX CHRISTMAS EVE. THE GATHERING MARKED THE 50TH DAY OF PROTEST AGAINST WHAT THE OPPOSITION CALLS VOTE-STEALING BY THE GOVERNMENT OF SERBIAN PRESIDENT SLOBODAN MILOSEVIC. LAURA ROZEN REPORTS FROM BELGRADE.

    // CHURCH BELL ACT SFX //

    TEXT: CARRYING CANDLES, YULE LOGS AND TORCHES, THE WORSHIPERS GATHERED AT BELGRADE'S ST. SAVA'S CATHEDRAL FOR MIDNIGHT MASS.

    OPPOSITION LEADERS' VUK DRASKOVIC AND ZORAN DJINDJIC JOINED SERBIA'S HIGHEST RELIGIOUS LEADER, PATRIARCH PAVLE, IN FRONT OF THE THRONG OF SUPPORTERS. THE CHRISTMAS EVE CEREMONY INCLUDED THE RINGING OF THE CATHEDRAL BELLS, SINGING AND PRAYERS. EARLIER, A BOMB EXPLODED NEAR THE HEADQUARTERS OF THE YUGOSLAV UNITED LEFT, THE POLITICAL PARTY OF MIRA MARKOVIC, THE WIFE OF PRESIDENT MILOSEVIC. NO ONE WAS HURT IN THE EXPLOSION, AND NO ONE CLAIMED RESPONSIBILITY.

    POLICE LARGELY STAYED AWAY FROM THE CHRISTMAS EVE CEREMONY. EARLIER IN THE DAY, DEMONSTRATORS HAD MET WITH THE MINISTER OF THE INTERIOR, WHO ASSURED THEM THAT POLICE WOULD ACT ONLY WITHIN THE LAW. BUT HE REFUSED TO LIFT A POLICE BAN ON THE DEMONSTRATIONS.

    RIOT POLICE HAVE FOR THE PAST 10 DAYS BLOCKED PROTESTERS FROM MARCHING THROUGH DOWNTOWN BELGRADE, SAYING THAT THE DEMONSTRATIONS BLOCKED TRAFFIC.

    THE CHRISTMAS EVE CELEBRATIONS COME ONLY DAYS AFTER THE SERBIAN ORTHODOX CHURCH HARSHLY CRITICIZED THE GOVERNMENT FOR WHAT IT CALLED THE FALSIFICATION OF THE PEOPLE'S VOTES. THE CHURCH'S COUNCIL OF BISHOPS LAST THURSDAY CALLED ON PRESIDENT MILOSEVIC TO REINSTATE (NOVEMBER'S) LOCAL ELECTION RESULTS THAT SHOWED THE OPPOSITION WINNING IN 14 CITIES, INCLUDING THE CAPITAL, BELGRADE. THE CHURCH SAID THE GOVERNMENT HAD PUT SERBS AT ODDS WITH EACH OTHER, TO THE POINT OF BLOODSHED, TO TRY TO PRESERVE ITS AUTHORITY.

    FATHER IRINEY DOBROJEVIC SAYS THE CHURCH IS NOT MAKING A POLITICAL STATEMENT, BUT URGING RESPECT FOR TRUTH.

    // DOBROJEVIC ACT //

    WHAT IS VERY CLEAR HERE, THE CHURCH IS NOT AT ALL MAKING ANY KIND OF POLITICAL STATEMENT. THE CHURCH IS ABOVE POLITICS. VERY SIMPLY, THE CHURCH IS ADDRESSING THE NEED FOR DEALING WITH THE WILL OF THE PEOPLE AND FOR DEALING WITH THE RIGHTS OF THE PEOPLE. ULTIMATELY, WHAT IS THE ONE CRITERION WHICH STANDS ABOVE AND BEYOND EVERYTHING ELSE? IT IS TRUTH. TRUTH MUST BE HEARD, RESPECTED AND HEEDED AT ALL TIMES.

    // END ACT //

    MONDAY'S CHRISTMAS EVE CEREMONIES SHOWED OPPOSITION LEADERS STANDING SIDE-BY-SIDE WITH THE PATRIARCH AND BISHOPS IN FRONT OF A CROWD OF PRO-DEMOCRACY SUPPORTERS. THE MESSAGE WAS CLEAR -- SERBIA'S ORTHODOX CHURCH HAS COME DOWN ON THE SIDE OF THE OPPOSITION.

    PRO-DEMOCRACY SUPPORTERS RECEIVED ANOTHER SIGN OF SUPPORT MONDAY. THE TOP YUGOSLAV MILITARY COMMANDER, MOMCILO PERISIC, MET WITH STUDENT OPPOSITION LEADERS. GENERAL PERISIC, THE CHIEF OF THE ARMY'S GENERAL STAFF, TOLD THE STUDENTS HE SEEKS A DEMOCRATIC SOLUTION TO SERBIA'S POLITICAL CRISIS, ONE WHICH COULD HELP YUGOSLAVIA JOIN EUROPE.

    GENERAL PERISIC'S COMMENTS HAVE BEEN INTERPRETED AS A SIGNAL THAT SERBIA'S ARMY MIGHT DEFY ANY ORDERS TO BREAK UP ANTI-GOVERNMENT PROTESTS. IN 1991, PRESIDENT MILOSEVIC CALLED IN TANKS TO END SIMILAR ANTI-GOVERNMENT PROTESTS.

    PRESIDENT MILOSEVIC'S LOSS OF SUPPORT AMONG THE CHURCH AND THE ARMY ARE TWO MORE SIGNS THAT HIS POWER MAY BE SLIPPING. HE RELIES INCREASINGLY ON SERBIA'S 80-THOUSAND WELL-PAID POLICE AS WELL AS ON HIS CONTROL OF SERBIA'S STATE-RUN TELEVISION NETWORK.

    PRESIDENT MILOSEVIC HAS ALSO BECOME DIPLOMATICALLY ISOLATED. THE ORGANIZATION FOR SECURITY AND COOPERATION IN EUROPE -- THE O-S-C-E -- HAS CALLED ON HIM TO REINSTATE ELECTIONS WINS TO THE OPPOSITION. AND WESTERN COUNTRIES HAVE THREATENED TO DENY SERBIA ENTRANCE INTO INTERNATIONAL LENDING INSTITUTIONS IF PRESIDENT MILOSEVIC CONTINUES TO DENY THE OPPOSITION'S ELECTORAL VICTORIES.

    // REST OPT //

    ALTHOUGH HE PORTRAYS HIMSELF ON STATE-RUN TELEVISION AS A PEACEMAKER FAVORED BY THE INTERNATIONAL COMMUNITY, ALL SIGNS ARE THAT THE SERBIAN PRESIDENT MAY BE CONTINUING TO LOSE SUPPORT AMONG URBANITES, THE MIDDLE CLASS, STUDENTS, AND NOW THE MILITARY AND THE CHURCH. POLITICAL ANALYSTS HAVE SUGGESTED THAT EVEN THE POLICE MAY DESERT PRESIDENT MILOSEVIC IF THE PROTESTS CONTINUE. (SIGNED)
    NEB/LR/CB-T/RRM
    06-Jan-97 10:01 PM EST (0301 UTC)
    NNNN
    Source: Voice of America


    [03] BULGARIA POL (L) BY BARRY WOOD (PRAGUE)

    DATE=1/7/97
    TYPE=CORRESPONDENT REPORT
    NUMBER=2-208340
    CONTENT=
    VOICED AT:

    INTRO: BULGARIA'S RULING SOCIALIST PARTY THIS WEEK NOMINATED INTERIOR MINISTER NIKOLAI DOBREV TO REPLACE FORMER PRIME MINISTER ZHAN VIDENOV, WHO RESIGNED LAST MONTH. V-O-A'S BARRY WOOD REPORTS MR. DOBREV FACES THE DAUNTING TASK OF CONVINCING A SKEPTICAL PUBLIC THE GOVERNING SOCIALIST PARTY CAN SOLVE BULGARIA'S DEEPENING ECONOMIC CRISIS.

    TEXT: MR. DOBREV IS LIKELY TO PRESENT HIS PROPOSED CABINET TO PARLIAMENT FRIDAY. THE OPPOSITION IS PLANNING A MASS PROTEST OUTSIDE THE CHAMBER.

    SOME OBSERVERS SAY MR. DOBREV IS THE ONLY SOCIALIST POLITICIAN ABLE TO WIN SUPPORT FROM ALL POLITICAL FORCES. THE OPPOSITION, WHOSE CANDIDATE WON THE MOSTLY-CEREMONIAL PRESIDENCY IN NOVEMBER, IS PRESSING FOR EARLY ELECTIONS. THE SOCIALISTS HAVE A COMFORTABLE MAJORITY IN PARLIAMENT.

    /// OPT ///

    LIKE HIS PREDECESSOR, MR. DOBREV IS A FORMER COMMUNIST YOUTH LEADER WITH NO EXPERIENCE IN ECONOMIC AFFAIRS. AT A SPECIAL PARTY CONGRESS LAST MONTH, THE TOUGH AND OUTSPOKEN FORMER MINING ENGINEER LED THE ATTACK AGAINST MR. VIDENOV, ACCUSING THE OUTGOING PRIME MINISTER OF ECONOMIC INEPTITUDE WHILE SUGGESTING THERE IS RAMPANT CORRUPTION INSIDE THE GOVERNMENT.

    /// END OPT ///

    THE SOCIALISTS LAST MONTH AGREED TO A CONTROVERSIAL PROGRAM DESIGNED TO STABILIZE THE CURRENCY, THE LEV, AND RESTORE BUSINESS CONFIDENCE. BULGARIA HAS COMMITTED ITSELF TO INTRODUCING A RESTRICTIVE MONETARY POLICY DEVELOPED BY THE INTERNATIONAL MONETARY FUND, AND FIXING THE RELATIONSHIP OF THE WEAK LEV TO EITHER THE STRONG GERMAN MARK OR U-S DOLLAR. THE LEV HAS LOST ANOTHER 30-PERCENT IN VALUE IN JUST THE PAST WEEK.

    INTERNATIONAL LENDERS WORRY WITHOUT QUICK STABILIZATION, BULGARIA WILL DEFAULT ON ITS 10-BILLION DOLLAR FOREIGN DEBT. THE RULING SOCIALISTS HAVE ASSURED THE I-M-F STATE-OWNED INDUSTRIES WILL BE PRIVATIZED, WITH MONEY EARNED FROM THE SALE USED TO REDUCE THE GOVERNMENT'S HUGE BUDGET DEFICIT. (SIGNED)
    NEB/BDW/PCF/RAE
    07-Jan-97 12:38 PM EST (1738 UTC)
    NNNN
    Source: Voice of America


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

    DATE=1/7/97
    TYPE=CORRESPONDENT REPORT
    NUMBER=2-208343
    CONTENT=
    VOICED AT:

    INTRO: MAJOR STOCK MARKETS IN WESTERN EUROPE TURNED IN MIXED RESULTS TUESDAY. FOR THE CLOSING NUMBERS, HERE'S VOA'S PAUL FRANCUCH IN LONDON.

    TEXT: PROFIT-TAKING ON WALL STREET IN NEW YORK APPEARS TO HAVE HAD A SPIN-OFF EFFECT ON KEY BOURSES IN WESTERN EUROPE. THE EXCHANGES IN LONDON AND PARIS BOTH CLOSED DOWN. FRANKFURT POSTED A MODEST GAIN. LONDON'S "FINANCIAL TIMES" 100 INDEX POSTED THE STEEPEST DECLINE, DROPPING NEARLY 28 POINTS AT THE CLOSE. IN PARIS, THE KEY INDEX KNOWN AS THE "CAC-40" SHED FIVE POINTS FOR THE DAY. IN GERMANY, THE "DAX 30" INDEX OF STOCKS IN FRANKFURT STARTED THE DAY LOWER, BUT MANAGED TO CLOSE WITH A GAIN OF NEARLY FIVE POINTS.

    HERE IN LONDON, THE U-S DOLLAR CLOSED A FRACTION OF A CENT LOWER AGAINST BOTH THE BRITISH POUND AND THE GERMAN MARK. GOLD -- WHICH HAD BEEN AT A THREE YEAR LOW -- MANAGED TO GAIN A DOLLAR AND A HALF IN VALUE TUESDAY, CLOSING AT 359-DOLLARS-35 CENTS AN OUNCE. (SIGNED)
    NEB/PCF/CF
    07-Jan-97 1:11 PM EST (1811 UTC)
    NNNN
    Source: Voice of America


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