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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?


To: Techplayer who wrote (11971)11/7/2002 8:55:19 PM
From: Techplayer  Read Replies (1) | Respond to of 57110
 
Sources: Iraq resolution ready, will pass
Vote scheduled Friday morning

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UNITED NATIONS (CNN) --The U.N. Security Council agreed late Thursday to vote Friday on the final text of a resolution that would send U.N. inspectors back to Iraq and fulfill the U.S. quest to win international backing in its campaign to disarm Saddam Hussein.

The resolution, sources told CNN, is expected to pass 14-0 with one abstention: Syria.

The council is to convene in formal session at 10 a.m. EST for the vote.

The resolution text, the result of a U.S.-French compromise announced earlier in the day, was amended slightly -- a change of just two words -- to allay council members' concerns as they gathered for the Thursday evening meeting that led to the agreement.

"This is an important week for our country and for the world," President Bush told a news conference earlier in the day. "The United Nations will vote tomorrow on a resolution bringing the civilized world together to disarm Saddam Hussein."

Details of the wording were not immediately available but were believed to address concerns by France, Russia and China about a "hidden trigger" that would allow the United States to use force against Iraq if Baghdad tries to thwart inspectors seeking evidence of chemical, biological or nuclear weapons.

"This time would be the 17th time that we expect Saddam Hussein to disarm; this time we mean it," the president said. "This time, it's for real."

On Thursday, Bush spoke by telephone with Russian President Vladimir Putin, and the White House said "both agreed on the need to reach a strong resolution" dealing with Iraq.

But the White House did not say whether Putin agreed to support the new U.S.-British proposal.

Bush also called French President Jacques Chirac. Though Bush would not characterize the nature of the talks, he said, "I'm optimistic we'll get the resolution vote tomorrow, I'll put it to you that way."

Chirac, in Rome, echoed Bush. "We are today, I hope, close to the goal," he said. He called the use of military force "the last resort."

Washington is hoping for a unanimous vote of support in the 15-member council, but it is unclear whether Russia, China and Syria will abstain or vote in favor.

View from Iraq
Meanwhile in Baghdad, there were indications Iraq might accept the resolution as now drafted.

An article Thursday in al-Thawra ("Revolution"), the newspaper of the ruling Baath party in Iraq, said "it is not in Iraq's interest to ignore or contravene Security Council resolutions, as others do."

In exchange, it said, the Security Council should recognize Iraq's rights.

Observers say the comments in al-Thawra indicate that despite its objections the Iraqi government recognizes the resolution as its last opportunity to avert war and will likely accept it.

In the past, Iraq has said no new Security Council resolution was needed.

Nevertheless, there was widespread belief among Iraqi leaders and people on the street that war is inevitable -- that the U.S. goal is not to rid Iraq of weapons of mass destruction, but to topple its leader and seize its oil.

The draft resolution reinforces the idea that the United States would return to the Security Council before taking any military action. Although it does not call for a second resolution, it said any failure by Iraq to cooperate "will be reported to the council [by weapons inspectors] for assessment."

The Bush administration continues to say, however, that although it would consult with the Security Council, it is not required to get U.N. approval for military action.

The draft resolution "does not handcuff the president" in any way, said a senior administration official, who did not want to be identified.

According to the draft resolution, if Iraq were to make false statements to weapons inspectors or interfere with their work, the Security Council would convene immediately "to consider the situation and the need for full compliance with all the relevant council resolutions in order to restore international peace and security."

The draft calls on Baghdad to produce records dealing with its weapons programs since inspectors were last there, in 1998, and to allow free and unrestricted movement of new inspectors.

The inspectors would also have the right to "immediate, unimpeded, unconditional and unrestricted access" to Iraq's so-called presidential sites, compounds that cover several square miles.

A previous agreement between Iraq and the United Nations required inspectors to provide notice before inspections and to work under diplomatic escort.

CNN Baghdad Bureau Chief Jane Arraf contributed to this report.

cnn.com



To: Techplayer who wrote (11971)11/7/2002 9:06:15 PM
From: Jorj X Mckie  Read Replies (1) | Respond to of 57110
 
I don't want to present myself as real knowledgeable on this, but as I understand it, a flat yield curve would not be bullish for stocks.