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Publication: European Stars and Stripes Sunday, December 1, 1991

You are currently viewing page 64 of: European Stars and Stripes Sunday, December 1, 1991

     European Stars and Stripes (Newspaper) - December 1, 1991, Darmstadt, Hesse                                Sunday december 1, 1991 the stars and stripes a Page 3soviet Central Bank out of funds / by the Washington Post Moscow a the Soviel Funion scentral Bank has run out of Money and has stopped All payments to the soviet government the head of the Bank said Friday. Go Bank chairman Viktor Gerash Chenko said the Bank was forced to halt payments after the soviet legislature failed to act thursday on a deficit spending package to keep the government running. The effect of the halt in funding was unclear Friday. But officials suggested that most government salaries including those of the military police and doctors could be suspended. The Central Bank announcement was the most startling of the recent bad financial news for this former superpower which now is crumbling into economic chaos. On thursday  the Bank that handles All foreign currency transactions announced it was stopping Many foreign currency withdrawals because it too had run out of Money. On Friday  was anxiously reassuring customers including foreign countries that Money would be available again tuesday. And in Amsterdam the Netherlands the head of the russian Republic state Bank warned that the soviet Union was rapidly heading toward hyperinflation which economists said could cripple not Only the Economy but also All Reform efforts. Prices Are rising daily in Moscow and elsewhere As Many stores and factories convert on their own to the free Market and As the state Bank keeps printing new and larger denominations of the Ruble. Go Bank recently began printing 200-Ruble notes and announced last week plans to introduce a 1,000-Ruble note. Meanwhile with the rubles value plummeting daily on Moscow a Black Market the Central Bank has decided to let the Long protected currency float freely for the first time a move that is Likely to produce a rapid drop in its value. Oleg Moz Hriskov head of gos Bank a currency department said that starting monday soviet Banks will be Able to set their own rates As the Market dictates for tourist transactions. The soviet Union has Many set rates for the Ruble but the one most americans come into Contact with is the tourist rate. That has been set officially at 47 rubles to the Dollar. On the Black Market a Dollar now fetches More than 65 rubles while at the latest currency auction in Moscow last week the Ruble traded at 110 to the Dollar. Less than a year ago the tourist rate was 6 rubles to the Dollar. Gerash Chenko speaking on soviet television Friday night said the Central government already had overspent its funds by More than 5 billion rubles. That occurred even before the parliament failed to act last week on the 90 billion Ruble bailout measure to cover the years fourth Quarter. The soviet government began deficit financing last summer to help cover the budget shortfall estimated at up to 200 billion rubles. Christmas crush Early morning shoppers crowd through the doorways of a department store in Columbus Ohio. The store opened at 8 . Friday morning for the busiest shopping Day of the year. Many service members stationed in Europe Are feeling the Pinch of a weak Dollar and Are having to curtail their Christmas shopping. See stories on Page 15. Snow fort collapses killing boy Chippewa Falls wis. A a 12-year-old boy suffocated after the Snow fort in which he was playing collapsed when a plow pushed More Snow onto it from a nearby Road authorities said Friday. Eric James Jensen of Cadott had been missing for nearly 18 hours before his father and a family Friend found his body thanksgiving morning. A the awful part is that he was in sight of the House a said the boys Mother Bessie Jensen. �?o1 could have looked out the window and seen where he had  Eric left his Rural Northwestern Wisconsin Home about 2 . Wednesday to play in the Yard and his family became worried when he failed to return a couple of hours later. A search was launched. A Chippewa county Highway department Snow grader operator Tola authorities he had slowed the Road near the Jensens House about 4 . Wednesday. There was no Way the plow operator could have seen the boy who had tunnelled into a Snowbank at the Side of the Road to make his fort said Douglas Ellis a Chippewa county sheriffs department  protest Macy s refusal to rehire his infected Santa new York a aids activists dressed in Santa Claus costumes chained themselves inside Macy a department store to protest the stores decision not to rehire a Santa infected with his the aids virus. The 22 demonstrators from the aids coalition to unleash Power or act up demonstrated Friday on behalf of Mark Woodley. Police said they charged 19 demonstrators with resisting arrest in a protest that came on the busiest shopping Day of the year. Eighteen also were charged with criminal trespass. The demonstrators entered the store at mid after. Noon chained themselves to one another a waists and began singing satiric Christmas carols said act up spokesman Robert Rygor. One set of lyrics went a Santa has his a la la la la la la la la. Macy a wont rehire he a la la la la la la la  protester Jon Winkelman said a a Macy a is playing Scrooge by firing one of their most popular santas. Aids discrimination violates the spirit of Christmas and we will not tolerate it at  Woodley 42, who Learned five years ago he had the human immunodeficiency virus was hired in 1989 to be a store Santa and was asked to return the next year. But Macy a officials declined to rehire him in 1990 when he mentioned on his application form that he was taking the aids fighting drug at and the anti depressant prozac. Woodley who has filed a $3.25 million lawsuit against the store charged that the store wont let him be a Santa because he is his positive. But Macy a officials said Woodley was not rehired on the advice of medical workers who said he  work around children. The store also said he had rejected a Job supervising santas at a higher salary. Threats delay search for killer shark Olovalu Hawaii a state officials temporarily suspended their search for a shark that killed a woman swimming near her Home after the search team was threatened by native hawaiians who consider Sharks gods. Marti Morrell died after being attacked tuesday by a 15-foot shark. Two Maui fishermen hired by the state to search for the shark quit last week and officials suspended the search shortly afterwards. A i am no longer involved in this project a said James Stegmueller. A there is heavy opposition from the hawaiian Community regarding this  Stegmueller and co worker Steve Thompson said they were threatened wednesday night by men who said they would Hurt the fishermen if they killed any Sharks. Many native hawaiians View Sharks As personal or family gods. State officials said the Hunt would not resume before monday. Beaches in the Olovalu area of Maui which were closed after the attack have been reopened. But a coast guard warning to boaters remained in effect Friday. Singer injured in crash Nashville Tenn. A Veteran country Star Hank Snow injured his knee when his car crashed into the rear of a Van As he was driving to a grand Ole opry performance Friday night police said. Snow 77, a member of the country music Hall of Fame initially refused medical attention but later went to a Hospital to have his leg checked said traffic it. Glen Yates. A emr. Snow appeared on the scene to have a knee injury. But he had his guitar and personal effects in his car and did no to want to leave them a Yates said. Two other people involved in the Accident were taken to a Hospital but their injuries were not believed to be serious Yates said. Snow who was treated at the Saint Thomas Hospital emergency room late Friday was in Good condition  
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