Lots of meat in the following.

+++++++++++++++++++++++++++++++++++++++++++++++++
Note from Bill:

You will find below some of the news from this week's NewsWatch.
Click here for the rest of the material.
http://www.watch.org/showart.php3?idx=8337&rtn=/articles.html&showsubj=1&mcat=1


• Israel Prime Minister Ehud Barak has called for a new election in
Israel. The Knesset will vote on early elections, most likely to be
held in May or June of 2001. Former Prime Minister Benjamin
Netanyahu is leading in the polls today with 70% of Israelis saying
he would win, while only 15% say Barak would win.

• Barak will continue trying to forge a peace deal with the
Palestinians before the election, and any agreement would be
greatly
affected by outgoing U.S. President Bill Clinton’s efforts to forge
a Mideast truce as his legacy and by the outcome of the disputed
election results.

• Many European Union and Arab-bloc nations have expressed their
desire for a United Nations peacekeeping force in Israel. The
U.N. General Assembly voted against Israel in six different
resolutions this week. (See Tom Cooper’s report at the.web site)

• Middle East news services report of growing concerns that Israel
may go to war with Syria over Lebanon and the actions of the
Hizbullah. If that scenario develops, Iraq says they will join in
the war.

• Russia is increasing its influence in the Middle East, indicating
that it wants to be more involved in the Mid-East peace talks. The
Russians have a long history of siding with the Arabs. Meanwhile,
Russia has also begun flying sorties of nuclear bombers near
Alaska to test the U.S. Defense Capabilities, according to the
Pentagon.

• Iraq, in conflict with U.N. sanctions against it, has halted its
oil exports, demanding a surcharge. Iraqi oil accounts for
approximately 5% of the world’s product.

• Turmoil has hit the world’s energy markets, and natural gas
prices have reached record levels in the United States.

• The U.S. financial markets continue their rough ride, with the
Nasdaq Exchange off $1.6 trillion in November. The economy
continues to be heavily reliant on consumer spending, which
accounts for two-thirds of the country’s $8 trillion Gross Domestic
Product (GDP).

++++++++++++++++++++++++++++++++++++++

Phil Sr.



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