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To: Lucretius who wrote (36809)	4/27/1999 7:44:00 PM
From: HammerHead	Read Replies (1) \| Respond to of 86076

Greenspan says Wall St plunge less likely-NZ paper WELLINGTON, April 28 (Reuters) - U.S. Federal Reserve chairman Alan Greenspan told New Zealand Treasurer Bill Birch he believes the danger of a major plunge on Wall Street has eased, New Zealand's The Dominion newspaper reported on Wednesday. ''We gained a lot of confidence from Greenspan,'' Birch told The Dominion in an interview after returning on the weekend from a visit to the United States, Japan and Europe. Greenspan had, ''moved away from his caution about irrational exuberance,'' said Birch, a senior member of the conservative New Zealand minority government. "Whereas in October he would have worried about a major correction, they more now think that you'll get adjustments over time. "I think he now sees what is happening in the equity market as a reflection of stronger corporate earnings, innovation, productivity growth in the labour markets and things like that. ''What's happened since October of last year is that there have been stronger corporate balance sheets than what had been anticipated,'' Birch added.