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By the
I News Digest Edited by Brandon Loomis I
V- ■■■■ ■' ... ■■ ■
^
1 West Germany agrees to offer
j 1 -to-1 ratio on merging marks
EAST BERLIN - West Germany
agreed on Monday to give East Ger
ij$ mans a bigger share of Western wealth
L as their struggling nation is merged
| with its rich neighbor.
In a surprising concession, West
Germany said it would exchange each
virtually worthless East German mark
paid to workers and pensioners for
one strong West German mark.
The 1-1 rate would apply to wages
and pensions and to savings accounts
of up to 4,000 marks ($2,300), said
Dieter Vogel, spokesman for West
German Chancellor Helmut Kohl.
The East German government had
demanded the 1-1 rate to protect
workers from higher living costs in a
unified Germany and the loss of huge
subsidies that existed in the former
socialist system.
East German political factions
applauded the wage concession but
criticized the limit on savings ac
counts.
Kohl made the proposal the day
before he was to meet with East Ger
man Prime Minister Lothar de Maizi
ere in Bonn to discuss their differ
ences over reunification.
It came amid reports that the number
of East Germans fleeing their crum
bling economy lor West Germany is
continuing at a rate of more than
4,000 a week.
U nder the West German cconom ic
proposal, announced after Kohl met
with his Cabinet, personal savings of
more than 4,(XX) marks would be traded
at a 2-1 rate.
East German private and corpo
rate debts also would be converted at
a 2-1 rale, Vogel said.
The West German government’s
proposal is an “important contribu
lion” to ending the disagreements
between the nations, East German
government spokesman Mathias
Gehler said.
But Wolfgang Ullman, vice presi
dent of Parliament, said: “If this is
the final decision, there should be
sharp protest because a large part of
savings will not be considered here.”
Both governments say they will
“4 4-“
If this is the final
decision, there
should be sharp
protest because a
large part of savings
wilt not be consid
ered here.
Wolfgang Ullman
vice president of East
German parliament
-* f
merge their economies completely
on July 1 as a prelude to full unifica
tion, expected next year.
The East German mark is offi
cially valued at 3-1 against the West
mark but is worth almost nothing
outside East Germany.
West Germany’s central bank had
proposed a 2-1 swap, saying a 1-1
exchange would dilute the value of
the West German mark and possibly
cause high inflation and rising inter
est rates.
But Vogel said the government
run Bundesbank “has fully accepted
that this is a decision made by the
federal government.”
4 ‘The Bundesbank has also accepted
that the economically prettiest solu
tion cannot always be taken’ he said.
But prices on the Frankfurt Stock
Exchange plunged 2,5 percent after
the announcement, their steepest
decline since January.
Social Democrat Oskar Lafontainc,
Kohl’s likely opponent, on Monday
accused the chancellor of caving in to
pressure from the East Germans.
But the left-leaning East German
Social Democrats, who arc allied with
their Western namesakes, called the
wage exchange “a step in the right
direction.”
The currency exchange is a key
part of a broader proposal for unifica
tion being pul together by the Kohl
government. De Mai/.ierc’s govern
ment came up with its own proposals
two weeks ago.
Both sides have embraced quick
unification, but differ on how much
burden each nation should carry.
Talks on the strategic future of a
united Germany also arc expected
soon with the World II allies that
divided Germany: the Soviet Union,
the United States, France and Britain.
The new democratic government
elected on March 18 has not been able
to halt mass migration. The East
German government news agency
ADN said Monday that nearly 20,000
East Germans have migrated in April
alone, giving a total of 167,09since
the beginning of the year.
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White House welcomes flexibility
! but leaves Lithuania options open
WASHINGTON - The While House on
; Monday welcomed whal il called signs of
flexibility from Moscow in its standoff with
Lithuania, and said President Bush will meet
with congressional leaders today to discuss the
crisis.
The State Department said U.S.-Soviet trade
talks arc still scheduled to begin in Paris today.
Bush, answering reporters who asked if he
might call ofl those talks in response to the
Soviet economic crackdown, said: “I’ll sure
let you know when I make a decision.”
Secretary of State James A. Baker III cau
tioned last week that economic relations “are
being pul to risk by Soviet actions in Lithu
ania.”
In another sign of business as usual, a senior
State Department official said Monday that
Baker will meet May 5 in Bonn with the foreign
ministers of the Soviet Union, Britain and
France on security concerns raised by pros
pects of German unification.
In Moscow, the spokesman for Soviet Presi
dent Mikhail Gorbachev said the Kremlin might
negotiate with Lithuania if it frce/.cs its March
11 declaration of independence for two years.
Arkady Maslennikov, Gorbachev’s press
secretary, said Soviet leaders were willing to
talk to Lithuanian leaders if they will acknowl
edge they are still subject to the Soviet
Constitution.
Lithuanian leaders have refused to do that,
saying the republic was forcibly annexed by
the Soviet Union in 1940.
Lithuania s 3.8 million people began their
first f ull work week since Gorbachev cut off
supplies ol oil, natural gas and other raw mate
rials to the republic. On Sunday, Lithuania
halted exports to Soviet republics and foreign
customers.
White House spokesman Marlin Fitz.watcr
said Monday that the Bush adminstration was
still consulting with allies on what course to
take.
The statements from the Kremlin “do ap
pear to show some flexibility. We are hopeful
that that s the case,” he said.
It s impossible lor us to know exactly
what these statements ... mean, but if they are
indicative of the two sides being able to get
together, that would be a welcome sign,” Fit/wa
ter said.
Bush, he said, would meet this morning with
bipartisan leaders of Congress to “discuss the
Lithuanian matter.”
“I would not expect any announcements
from us on any course of action before that
point,” Fitzwatcrsaid. “We don’t want to give
any indication to what actions we might take.”
Fit/walcr declined to comment on specula
tion that the United States might postpone
planned trade and investment assistance to the
Soviet Union.
However, he said, “I rule out no options.”
“The decision has not been made by the
president yet. It depends upon analysis being
conducted by the NSC (National Security
Council) and the Stale Department at this time,”
Fitzwatcr said.
Meanwhile, a planned meeting Monday
between Alcxsandr Yakovlty, the Soviet
Communist Party secretary, and Vice Presi
dent Dan Quay le w as postponed at the Soviets
request, the White House said. The Soviets
gave no reason for postponing the meeting.
r ■ ■ ■ —-1
NetSraskan g
Editor Amy Edwards, 472-1766
Managing Editor Ryan Steeves
Assoc News Editors Lisa Donovan
Eric Pfannar B
General Manager Dan Shattil
Production Manager Katharine Policky
Advertising Manager j0n Daahnka
Sales Manager Kerry Jetfrles
Publications Board b|
Chairman Bill Vobajda, 436-9993
Professional Adviser Don Walton, 473-7301 J
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1990 DAILY NEBRASKAN
