European Stars and Stripes (Newspaper) - May 21, 1990, Darmstadt, Hesse Page 20 a a a the stars and stripes monday May 21,1990 nations would save billions by cutting Farmers subsidies Washington apr cutting subsidies to Farmers would save much of the $200 billion that they Cost Consumers and taxpayers in 24 Industrial countries every year according to a study published sunday by two major International bodies. Michel Petit who Heads the agriculture department at the world Bank said that Price increases would moderate and stabilize if third world countries also freed up their Trade in farm products. The Bank based in Washington european weather of Rockst for monday fair to occasionally partly Cloudy with isolated afternoon pm showers or thunderstorms possible in Otomo Southern Germany. High Tom m a Turos 60 73 coastal. 72-77 elsewhere lows 4550 Sunset monday 9 14. Sunrise tuesday 5 30 out look for tuesday continued fair to occasionally partly Cloudy isolated afternoon rate showers and thunderstorms m Southern Germany. Highs 68-73 coastal. 75-Bo elsewhere lows 47-52 inn Purtum us tit Tut sunday 4dm 4 in 57 a Copenhagen 70 Hank Lurt i 77 London p 73 Madrid p 64 Munich i 6g pans i 73 room p i ,i Amsterdam Athens i Avrim p Heflin p Breine Haven it Nisi is p 50 0/ 61 46 46 50 4am 4pm 43 61 52 43 61 4b 54 5i pm Vird by Del 13 2nd weather Wing Tia Hen Trarbach other worldwide temperatures Cairo i Otil ilm it Helsinki p i Lis Linn r. High Low 90 66 Montreal i 59 50 Moscow r 37 Oslo c 55 Toronto i 64 Vancouver 54 b6 73 High Tow 52 43 54 32 61 41 59 46 64 50 supplied by the associated press i dimly p partly i Loudy i Ian i is the biggest single source of Aid to the third world. It produced the study with the of animation for economic cooperation and development in Paris. The Recd represents 24 important Industrial countries. Jean Claude Paye the Recd Secretary general has predicted a Sharp dispute on farm subsidies will arise when ministers from the 24 countries hold their annual meeting May 30. These subsidies Are already a major Issue in the round of Trade talks that nearly 100 governments Are trying to Complete by the end of the year. The United states and the 12 governments of the european economic Community Are at Odds. President Bush wants a pledge to phase out All subsidies by the Century Send. The europeans say that a unrealistic. Both sides say they want to Cut subsidies but the United Stales has been focusing on subsidies that promote exports. Petit a Frenchman backed the View of . Agriculture Secretary Clayton Cutter that the talks offer a Chance for cuts in subsidies that will not recur for another decade. Petit called attention to a part of the study done by Kym Anderson and Rod Tyers of the University of Adelaide Australia. It suggested that if the 24 Recd countries dropped All their subsidies and Protection on farm products they would gain $50 billion according to Petit. Conversion rates London up a fridays closing rates for the . Dollar to other currencies. Figures Are expressed in dollars to the British Pound other local currencies in dollars Gold was quoted at $369.75 an ounce Silver at $5.06. May 17 May 18 British pound.1.6775 1.6900 German mark.1.6485 1.6510 French iranc.5.5290 5.5645 dutch guilder.1.8415 1.8527 belgian franc.34.00 34.11 italian lira.1.206.30 1.213.30 Swiss ranc.1.4035 1.4050 greek drachma.161.65 162.70 turkish lira.2.540.40 2.550.40 Spanish peseta.102.45 102.70 portuguese escudo.146.00 145.70 Canadian dollar.1.1730 1.1743 austrian schilling.11.5200 11.5980 norwegian krone.6.3800 6.4070 danish krone.6.2565 6.2900 these Are unofficial rates As reported by wire service and banking sources and they Are listed to give some idea of daily currency fluctuations. The Only official rate concerns the Sale of German Marks to . Personnel for personal use and this will be 1.62 monday based on fridays noontime Price fixing. Erasures 05 72 70 61 60 43 77 51 74 53 16 54 63 47 77 57 04 69 75 55 89 75 79 63 Hilo , Akuin i All , y i Alt ill Llull Ihl All,,1.1 Alli Ilir Union Boston. Bridgeport. burlington.1/1 a c a Clearl a Var c Rhi to May 19 Hilo 08 74 64 45 83 64 g2 47 69 49 6? 49 69 51 92 78 57 49 50 4? 45 38 64 8? 83 65 84 63 Cincinnati. Colorado c a Ccolumbus. 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