European Stars and Stripes (Newspaper) - December 13, 1994, Darmstadt, Hesse                                Page 14 the stars and stripes Money matters tuesday december 13,1994 today s rates following Are fixed rates at which Community banking and credit Union facilities will sell for eign currencies to . Personnel for personal us British Pound. 1.60 dutch Guilder. 1.72 German Mark. 1.54 note the rates above apply within the Host country. Figures Are expressed in dollars to the British Pound other currencies to the Dollar following Are Interbank rates that fluctuate and should be regarded As the approximate value of the . Dollar to foreign Curren cies. Austrian Schilling. 11.1070. Bahrain Dinar. 0.37675 belgian franc .32.47 British Pound. 1.5603 Canadian Dollar. 1.3853 danish Krone. 6.1815 dutch Guilder. 1.7693 French franc. 5.4313 German Mark. 1.5785 greek drachma 243.75 italian lira. 1,638.00 Kuwait Dinar. 0.29975 norwegian Krone. 6.8762 portuguese escudo. 161.43 saudi Royal. 3.7503 Spanish peseta. 132.23 Swiss franc. 1.3382 turkish lira. 36,800.00 note figures Are expressed in dollars to the British Pound other currencies to the Dollar Gold quote $376.85 an ounce Sliver quote $4.73 an ounce sources merchants National Bank & Trust co. And the associated press plans joint Effort with China firms Benton Harbor Mich. A Whirlpool corp. Plans to make refrigerators and microwave ovens in China through joint ventures with chinese appliance companies. Talks under  May also Lead to agreements Early next year to manufacture washing machines and compressors there Whirlpool said last week. We believe the opportunities in China Are enormous Saia David r. Whitwam chairman and chief executive officer. Whirlpool will acquire a majority stake in an existing joint venture with Sec microwave products co. Ltd., China s larg est producer of microwave ovens. Minority snares will be held by Shell electric manufacturing holdings co. Ltd. And shun de county Weijiao economic development co., a government owned enter prise i  r ,. A second joint Effort will link Whirlpool with Beijing Snowflake electric appliance group corp., a state owned business that manufactures refrigerators. The new com Pany will be known As Beijing Whirlpool Snowflake electric appliance co. Ltd Whirlpool will hold a majority share. Both projects Are subject to approval by the government and the companies boards. Erica win eur loses -.-".-. In Trade zone Summit by Andrew Selsky the associated press Miami the Summit of the Ameri Cas is Verj the 34 leaders Are headed  a in three Days of talk what did they accomplish there were winners and losers galore. Here is a look at a few of them Winner president Clinton. If a free Trade zone throughout the hemisphere becomes reality Clinton would go Down in history As the Leader behind it. He was the final Force behind two other Trade pacts that finally won congressional approval the North american free Trade agreement and the general agreement on tariffs and loser the european Union. The european economic Alliance now faces stiff Competition. The free Trade zone encompassing the americas and the Caribbean is projected to be the worlds biggest uniting 850 million people and creating a marketplace Worth $13 trillion. As leaders from latin America met in Miami the eur scrambled to get on the bandwagon. An eur Summit in Essen Germany called for talks to pursue a partnership with latin America. Winner Miami. After being known for years As a City where crime never sleeps Miami dazzle during the Summit. Perhaps it was the thousands of police officers and Federal Security agents who kept crime at Bay. With a dozen cops on every Corner it was even Safe downtown where few normally dare to walk at night. If the free Trade zone were created Miami would be the Hub bringing More jobs and visitors. Loser Fidel Castro. Cuba s communist Leader More Iso lated than Ever was shunned from the Summit attended by every other Leader in the hemisphere. The message to Castro from his neighbors turn Cuba into a democracy or Wither on the Vine. Winners . Exporters in a free Trade zone tariffs on imported . Goods would be eliminated. . Telecommunications electronics an construction companies Are poised to take advantage of latin America s push to modernize. Winner and loser mexican pres ident Ernesto Zedillo. Inaugurated a week before the Summit Zedillo had a reputation As an anaemic Technocrat. But by speaking out against California s proposition 187, which de Nies health and education benefits to Ille Gal aliens he is now known among mexi cans and leaders of other countries As a bold Man unafraid to take on the unite states. ,.-.- " Zedillo also lost because the Summit did not officially condemn proposition Winner Mexico. As a Gateway to the United states Mexico would gain from the free Trad zone by serving As a conduit for goods. President Clinton and vice president Al Gore chair the opening working session of the Summit of the americas in Miami on saturday. Winner the environment. Latin american nations agreed to phase out the use of leaded gasoline and to properly manage pesticides. The United states and the Central american nations also agreed to protect habitats in Central America and to strengthen environmental . Hemispheric Summit on the environment will be held in Bolivia in 1996, bolivian president Gonzal Sanchez said sunday. Potential losers drug Traffick cars -. T. -. The Summit nations pledged to go after traffickers profits and attack their Money laundering operations. But the initiative lacks Teeth. Colombian presi Dent Ernesto Samper introduced More punishing measures which will be consid ered by Summit nations next year. Winner and loser Argentina s president Carlos Menem. The Summit embraced Menem s proposal to create a White helmet corps of volunteers in the Region to help in Nat ural disasters and other emergencies and reduce social and developmental needs. But Menem failed to persuade the sum Mit leaders to take an official position on the need for Cuba to become democratic. Fed May hold off until 95 on raising rates again by the new York times Washington while the Federal Reserve is determined to raise Short term interest rates further the Central Bank s top two officials hint that the fed May not act until january or Early february. Top fed officials made Clear last week that they wanted to weigh information on the Economy s health that will not be available until january. Officials also expressed Little concern that tax cuts might Widen the budget deficit and feed inflation next year. The truth is that we have to be into january beyond the end of the i Garter before we have a substantial majority of the data said Alan Blinder the fed s vice chairman said at a news conference Friday. The fed which has raised Short term interest rates six times this year believes it must Brake the Economy s growth to head off inflationary shortages of goods and skilled labor. -. Despite this thinking the fed still could raise rates dec. 20, when its policy making committee is scheduled to meet again because of information provided by government statistics to be made pub Lic this week. The labor department is scheduled to Issue november figures for producer Price inflation today and for consumer Price inflation wednesday. Also wednesday the Federal Reserve plans to Issue its estimates of How close american heavy Industry was to operating at full capacity during november. An unexpectedly Large inflation gain or signs that american factories Are straining to produce enough goods could so alarm the Bond Market that the fed May be compelled to raise rates to reassure investors that it remains intent on fighting inflation