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Politics : Clinton -- doomed & wagging, Japan collapses, Y2K bug, etc -- Ignore unavailable to you. Want to Upgrade?

To: WTCausby who wrote (40)	9/1/1998 2:27:00 PM
From: SOROS	Read Replies (1) \| Respond to of 1151

Dow Jones Newswires NEW YORK -- Moody's Investors Service Inc. placed the ratings of 10 Taiwanese banks under review for possible downgrade. The review reflects Moody's concerns about the emerging trends and the underlying structural weaknesses in the Taiwanese banking sector. These weaknesses include slowing credit demand, intensifying competition, rising corporate leverage in an overbanked financial system, and disintermediation -- or the movement of funds from low-yielding accounts at traditional banking institutions to higher-yielding investments in the general market. The rating agency also said that the widening global economic crisis is impacting the Taiwanese economy, which may, in turn, aggravate the weaknesses in the banking system. The banks that Moody's cited are Bank of Taiwan, Bank SinoPac, Chang Hwa Commercial Bank Ltd., Chiao Tung Bank Co., Chinatrust Commercial Bank, E. Sun Bank, First Commercial Bank, Hua Nan Commercial Bank Ltd., International Commercial Bank of China and United World Chinese Commercial Bank. Although Moody's said it recognizes the ample resources that Taiwan possesses to mitigate the impact of the crisis, the ratings agency added that it believes the country is becoming increasingly vulnerable, and the overall risk level to the banking sector has been elevated. The Taiwanese economy already has experienced a sharp deterioration in its trade performance and projects a significant reduction in economic growth this year. Further pressure on the New Taiwan dollar may tax the resources of the central bank and place increasing strain on the already highly leveraged industrial sector, Moody's said. Likewise, the banking sector has experienced rising nonperforming assets amid deteriorating operating margins. Moody's said its review will assess the ability of the banking sector to withstand this deteriorating and uncertain environment.

To: WTCausby who wrote (40)	9/5/1998 11:22:00 AM
From: SOROS	Respond to of 1151

BBC - 09/05/98 Iranian Radio has asserted the right of the government under international law to take all necessary action against the Taleban movement in Afghanistan. "Tehran has tried...to make the (United Nations) Security Council aware of a situation which can threaten international peace and security," the statement read. "After this process, Iran will have the right under Chapter 7, Article 51 of the U.N. Charter to take all necessary action in the context of legitimate defence," Tehran radio said. The announcement came shortly after American defence officials told the Washington Post newspaper they believed Iran was about to launch an attack across the border into Afghanistan, which is mostly controlled by the Taleban. The officials told the paper Iran has sent some 35,000 troops to the border - along with tanks, heavy artillery and attack aircraft - under cover of the military exercise announced last week. In Afghanistan itself, the Afghan Islamic Press says the Taleban has started arming civilians in Nimroz province in fear of a possible Iranian attack. Iran believes 10 Iranian diplomats and a journalist were among thousands of people murdered by Taleban troops when they captured the Afghan opposition stronghold of Mazar-i-Sharif last month.

To: WTCausby who wrote (40)	9/5/1998 11:34:00 AM
From: SOROS	Read Replies (1) \| Respond to of 1151

Conference for Middle East Peace Israeli & Global News Volume 92.4, September 4, 1998 Join our Internet Conference eretz-yisrael for news and views! All releases are copyrighted and cannot be used without permission PA Leader Faysal Husayni: PA Plans War May 4,1999 Paris Le Nouvel Observateur in French 27 Aug -- 2 Sep 98 p 46 Interview with Faysal Husayni, leader of al-Fatah in the occupied territories, by Kenize Mourad "We are willing to die, for them every death is a tragedy..." [Mourad] The movement that claimed responsibility for the attacks against the American Embassies in Nairobi and Dar es Salaam says it is endeavoring "to liberate the holy places." Does that also mean Jerusalem? [Husayni] We have nothing to do with extremist actions. In fact, such actions play into the hands of the Israeli Government, which has not failed to state that Arabs are terrorists with whom negotiation is impossible. For the last 18 months, Netanyahu has been flaunting the Oslo agreements and Washington -- the guarantor of the peace agreements -- has not even lifted a finger. Yet the United States sees itself as the world's policeman and does not hesitate to strike at any country that breaks international law. Among the Palestinians and the entire Arab world there is a feeling of terrible bitterness at the "double standard" that the West calls justice. [Mourad] The peace process looks bogged down, the Palestinian people more discouraged than ever, and it looks like Yasir 'Arafat's decision to change the government has visibly disappointed some Palestinians. [Husayni] Oslo is dead and buried. The Palestinian youth, especially in the refugee camps, wants to start fighting again, and we are having a great deal of trouble holding them back. Despite everything, we have decided to be patient until the end of the five-year interim period so that nobody can say that it was us who sabotaged the peace process. But on 4 May 1999, we will announce the independence of the Palestinian state. We will forcefully open up our borders with Jordan and Egypt, which are currently controlled by the Israeli army. There will be violent confrontation and death, but this time on both sides. Are the Israelis more numerous and better equipped? Yes, but the superiority of us Palestinians lies in the fact that we are willing to lay down our lives, whereas for them every death is a tragedy that society cannot bear. We have no other solution. But watch out If, yet again, the world lets Israel do what it wants, and if the PLO leadership fails in its last fight, then it will fall because the people will no longer have confidence in it. The only alternative will be Hamas. The fundamentalists are waiting; they are prepared to take power. Where Jerusalem is concerned they are capable of mobilizing Muslims from around the world -- from Iran, Pakistan, and Morocco. There will be popular reactions everywhere; no Middle East government will be secure. The political map of the region will be sent into turmoil, and then Israel will have real reasons to be afraid! As for the Western capitals, none of them will be safe. Nobody will be able stop the suicide attacks carried out by these young people who have been made desperate by years of sacrifice that have led to nothing. And since in Israel, the Jewish fundamentalists, who are already very powerful, will take power -- that will mean a clash between two versions of fundamentalism. Unless the Palestinian question is resolved, then what we are seeing today is nothing compared to what could happen. Given Israel's means of destruction, as well as those held by several Muslim countries, the entire world will be in danger. PA's Sha'th Stresses No Retraction on Declaring State Amman Al-Ra'y in Arabic 26 Aug 98 PP 1, 19 by Lima Nabil in Amman Dr. Nabil Sha'th, Palestinian minister of planning and international cooperation, has said that the Palestinian Authority is serious about declaring the Palestinian state next April and that there is no retraction of this subject. He said the Oslo agreement did not list the issue of the state and its declaration on the agenda of the final-status negotiations, and this declaration is one the Palestinian people's rights. He stressed that the Palestinian Authority will not accept interference by the occupation authorities in this subject. In an exclusive interview with Al-Ra'y, Sha'th underlined the importance of opening the airport and the seaport, which he said will be a real breakthrough away from the Israeli siege and will constitute a Palestinian crossing to the world. He said Israel is doing all it can to delay the opening of these two facilities. He added I think that the opening of the airport, whose construction has been completed, will take place first, but this will be after reaching an agreement on the second stage of redeployment. Dr. Sha'th said there is a deadline for the negotiations on the second stage. This deadline, which the United States is trying to enforce, is September because it cannot delay international action more than this. He added We will continue calling for withdrawal not only from 13 percent but will also demand changing 4.2 percent of Area B to Area A. He said this will increase the area of the liberated land by six times to reach 18 percent of the West bank and 84 percent of Gaza. Dr. Sha'th said there are two dangers facing the Netanyahu government, the first is from within his coalition, and the second is from the opposition. He said there are limits that Netanyahu cannot cross in his dealing with the Palestinian people. Dr. Sha'th said the Oslo agreement succeeded for the first time in obtaining an Israeli recognition of the Palestinian people's right to a withdrawal from 90 percent of the land before reaching the final solution. He said There is an irrevocable international recognition of the Palestinian people's right to set up an independent state on their land.