European Stars and Stripes (Newspaper) - December 28, 1991, Darmstadt, Hesse                                Saturday december 28, 1991 the stars and stripes Page 3 end of an Era Era Dies along with soviet Symbol by James f. Clarity the new York times Moscow a the 149 million people in this country woke up on thursday living under the russian Flag in a land called Russia for the first time in 74 years. Some marked the transition As an event of National Pride some viewed it As a reminder of an agonizing rebirth that was still under Way. Others ignored it while they continued their daily struggle with food shortages and Hunt for presentable new years gifts. While the Hammer and sickle red flags disappeared overnight the cyrillic equivalents of the initials . Still appeared everywhere not yet replaced by the cyrillic letters representing the Commonwealth of Independent states. These letters form the sounds for a n and a leading some to Call the new government Sneg the russian word for Snow with the implicit idea that it might too melt by the Spring. The newspapers which gained wide Freedom under Mikhail s. Gorbachev a policy of glasnost were kind to him As he departed. A the left his High position looking at us directly and frankly in the eyes a Izvestia said on the front Page a the did All he  pravda said Gorbachev left a an indelible Mark on the annals of our society and the whole  the growing and popular daily Nezah Ishimaya gazeta whose name Means Independent newspaper said Gorbachev was a one of the key historic figures of the 20th Century and the most outstanding political Leader who has Ever emerged on the territory of the former .�?� in his attempt to a heal the nation a the newspaper said a this Choice of cures was commendable a glasnost democratization and the like a but in the end even a Small dose of these proved fatal to the  on the evening news an announcer declared a the Flag of Russia has been raised Over the Kremlin. Today its a new Day a new state. We meet it with Hope and god forbid that the sad errors of our history Are  moves quickly on Reform program to privatize business Moscow apr Boris Yeltsin a government is moving Forward with ambitious economic plans to Transfer state businesses and shops to individuals. The program will coincide next week with Steep Price increases designed to stimulate sagging production and Stem severe shortages of food and consumer goods. The plan will keep railways civil aviation and most natural resources under state control. Some Large factories would be privatized and Small businesses such As shops will be auctioned the inter fax news Agency reported thursday. The East european experience has shown privatization to be one of the most difficult but essential Steps of economic Reform needed to increase the amount and Quality of goods available As Well As stabilize inflation. When prices Rise thursday it is hoped that producers distributors and merchants who have withheld goods from the Market will be encouraged to put them out for Sale. Inter fax quoted science minister Boris Saltikov As saying the privatization plan would take three to five years to Complete. Saltikov said the program a approved by the russian Council of ministers and subject to parliamentary or presidential approval a offers foreign investors benefits for privatizing unprofitable enterprises. He said stores and Small workshops would be auctioned off to foreign and Domestic buyers on an equal basis. Privatization of Public services and the extensive but aging transportation systems will be handled by municipal authorities. The russian Flag Flics High Over the Kremlin at right after it replaced the former soviet unions Hammer and sickle. The screen showed the Flag that had been raised wednesday night above the Kremlin Walls 33 minutes after Gorbachev resigned As president of the soviet Union which expired with his departure. The change of National symbols evoked Complex and contradictory feelings. A the Flag is a Symbol and in this Case the Symbol of changes a said Yevgeny rein a poet. A a great Era is finished a period tightly connected with my life. From this Point of View i feel  for Natalya Trauberg a literary critic and translator it provided a sense of Relief a they lowered the Flag Quot she said. A a that a great. I had enough of it. I m very Happy because under the soviet Flag i always Felt Only  Aleksandr n. Yakovlev a confidant of Gorbachev who had helped him form the restructuring plan known As perestroika said a i am firmly convinced that Gorbachev wanted Good for society and the people. I know this for sure. He wielded absolute Power but began giving it up  he said Gorbachev was Quot a Man of compromised and added that if he had lacked this Quality a intolerance would have reached an explosive  stable currency should be a top priority experts say by Luke Britt staff writer consider the Ruble a while you can. A currency that was never Worth much when the communist Empire was alive the Ruble May Well be Worth saving from death according to some experts. The survival of the new Commonwealth of Independent states depends on the prompt incorporation of the former soviet states into the world Economy said Michael Ellman professor of economics at the University of Amsterdam. That transition will Only come when the currency of the Commonwealth is stable. A but it will take Money to make that work and the Money will have to come from Western nations a Ellman said. A and that a actually a quite sensible thing for the outside world to  before the Commonwealth was created a Ruble was Worth about 11 cents and is falling fast according to Exchange rates published in european newspapers. A currency convertibility fund under the auspices of the 146-member International monetary fund has been proposed to help support the Ruble. The fund Worth an estimated $5 billion would be used to bring the value of the Ruble up to a level acceptable to countries trading with the new Commonwealth states Ellman said. Although the Ruble is still the currency of the Commonwealth its Days Are probably numbered in some of the former soviet republics. The Ukraine a leaders have vowed to Issue a new currency for their Republic soon and other Commonwealth members Are Likely to follow Ellman said. The professor said he thinks the Ruble will remain the currency of the russian Republic and said that some of the states might join Russia in a sort of Ruble bloc. If they do and the currency stabilizes the single Standard of Exchange could lure investment into the fledgling Commonwealth said Michael Simmonds a Market forecaster for London a Midland Bank. The Ruble has never been a Factor on International markets in part because it was illegal for soviet citizens to invest abroad until recently Simmonds said. As a result the soviet Union played Only a minor role in world Trade in contrast to its strength in world affairs he said. Reports showed that the soviet Union never accounted for More than 4 percent of world Trade in any single year. Quot we done to Monitor the Ruble. It just Isnit traded on the markets a Simmonds said. Quot if the Commonwealth has Hopes of any kind of profitable Trade something will have to be done to improve the value of the  moreover any if support for the Commonwealth will hinge on sound fiscal policies which arc needed to attract Western investors Ellman said. The agreement that created the Commonwealth of 11 former republics mentioned no such plan. During a tour of Commonwealth states last week Secretary of state James a. Baker Iii told reporters that he did not believe the Commonwealth members have much Chance of coordinating a Long lasting fiscal plan. A the most important thing is to balance the russian budget a Ellman said. A they have to Send a signal to Western nations that they will not be throwing Good Money after  some experts done to give Boris Yeltsin a russian government much Chance of balancing the nations budget in 1992. The Wall Street journal reported last week that the a Best Case scenario for Russia was an inflation rate of 650 percent next year. Such a failure could threaten the commonwealths survival Ellman and Simmonds said. A anybody who thinks Yeltsin has succeeded in gaining a firm grasp of Power is making a big mistake a Fliman said. A if the Economy of Russia Isnit stable we could Sec real upheaval before the