Editorials
Wednesday, January 6, 1999

Launching of euro
is big boost
for Europe

A common currency for Western Europe seemed like a good idea, and the financial world agreed as the euro made its debut Monday on world markets. Officials of the European Union were delighted at the reception for the new currency, which is to be the medium of exchange in 11 nations with 292 million people. There was even some concern that a euro that was too strong could have adverse effects. But it will be simpler to adjust the value of one currency than 11.

Eliminating the melange of exchange rates in Austria, Belgium, Germany, Finland, France, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain will make it easier to do business in Europe. Greater convenience, efficiency and competitiveness should be the result. That should benefit all - including American firms that have operations in Europe or want to expand there.

Britain, Denmark and Sweden have opted to stay out of the euro project, for the time being at least, and Greece failed to meet the economic criteria for entry. However, if the euro succeeds, as we expect it will, all four countries will probably come on board. But it will take skill in adjusting to the needs of the participating nations to win full acceptance of the new currency.

Western Europe is an economic colossus rivaling the United States, but its potential has been limited because it is divided into many relatively small economies. For most of the post-World War II years Europe has been moving slowly and carefully toward economic unification. The launching of the euro is the biggest achievement of that effort to date.

Helmut Kohl, the former chancellor of Germany who stepped down after elections last September, regarded monetary union as one of the crowning achievements of his 16 years in office. Now it is up to the new generation of European leaders to make it work.

‘The Gov’ Ventura

THEY'RE a little on edge in Lake Woebegone. No sooner had Jesse "The Body" Ventura been sworn in as Jesse "The Governor" than Minnesotans were abuzz with his proposal that Terry "The First Lady" Ventura be paid a state salary for performing her duties. Still, the popularity of the shaved-head former Navy Seal, professional wrestler, radio talk-show host and suburban mayor is higher than ever.

Ventura's authenticity, candor and colorful approach to politics are likely to continue captivating Minnesotans and other Americans as a refreshing anomaly in politics. It would take a mighty stumble to wreck this amazing saga.

In his inaugural address, Ventura humbly promised to "do the best job I possibly can." That may not be so difficult. He inherits a projected state budget surplus of $3.3 billion, enough to provide income tax rebates, property tax rebates and permanent tax cuts without having to cut state programs. Since his election he has hedged on his campaign promise to return the entire surplus in the form of tax cuts.

As the Reform Party candidate, Ventura defeated career politicians offered up by the Republican and Democratic-Farmer-Labor parties, winning 37 percent of the vote. With no Reform members in the legislature, he may not find it easy to win enough support to uphold any vetoes he may cast.

Ventura could provoke opposition by trying to cash in on his celebrity and making silly proposals such as paying his wife a state salary of $25,000. Outgoing first lady Susan Carlson remarked that the official residence came with adequate professional help to plan events, cook meals and perform other functions. "I basically had to show up," she said.

Such a proposal exemplifies the danger of Ventura's unvarnished candor. One slip of the tongue can destroy a politician. But for other Americans, it's fun to watch from a distance.

Policy on Cuba

AS might be expected of a president impeached by the House and facing trial in the Senate, Bill Clinton is not about to take any bold policy initiatives. His decision to relax the U.S. trade embargo against Fidel Castro's Cuba is a minimal gesture aimed at warding off a proposal for a full-scale review of the policy of isolating Cuba.

The steps announced by Clinton include increasing charter passenger flights to Cuba, allowing expanded payments to Cuban families by U.S. residents, establishing direct mail service with the island, and permitting the sale of U.S. food and agricultural supplies to nongovernmental bodies.

He also proposed a round of "baseball diplomacy," authorizing the Baltimore Orioles to arrange exhibition games with the Cuban national baseball team in the United States and Cuba. Proceeds would benefit charities operating in Cuba. Clinton said, "These steps are designed to help the Cuban people without strengthening the Cuban government."

But this is small stuff compared with the proposed comprehensive review, which might have produced a recommendation to end the 38-year embargo. The review proposal was made last October by 15 mostly Republican senators who suggested that a bipartisan commission take a fresh look at U.S. Cuban policy.

Cuba was a threat to the United States when Castro made it a pawn of Communist imperialism. But since the collapse of the Soviet Union Cuba has become an isolated anachronism with no power to threaten the United States or any other country.

A review of U.S. policy toward Cuba clearly is in order. But to undertake it would provoke the wrath of fiercely anti-Castro Cuban-Americans, who are a formidable voting bloc in Florida. So our beleaguered president is ducking the issue and offering some small palliatives in its place.

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Published by Liberty Newspapers Limited Partnership

Rupert E. Phillips, CEO

John M. Flanagan, Editor & Publisher

David Shapiro, Managing Editor

Diane Yukihiro Chang, Senior Editor & Editorial Page Editor

Frank Bridgewater & Michael Rovner, Assistant Managing Editors

A.A. Smyser, Contributing Editor