Administration of William J. Clinton, 1995 / Jan. 30 Mexican Loan Guarantees omy stay strong down there is more important Q. Mr. President, will you have a Mexico than anything else for our working people and bailout bill ready today? The peso and the bolsa our businesses on Main Street that are doing are dropping sharply. such business in Mexico. If they want to con- The President. We certainly hope so. I worked tinue to grow and to have that as a market, yesterday for several hours on this and secured we can't let the financial markets, in effect, col- again the reaffirmation of the commitment of lapse the Mexican political and economic struc- the leadership of both parties in both Houses ture. Secondly, there are a lot of pension plans to go forward. And we have put out more strong and ordinary Americans that have their invest- statements today about it. ments tied up there. Thirdly, we have immigra- I think we justÐthis is something we have tion and narcotics cooperation and control issues to do. The time is not a friendly factor, and here involved. This is something for ordinary I realize that the Congress had other important Americans. It's very much in our interest, and measures to debate last week, the unfunded we don't want to let it spread to other countries mandates legislation in the Senate, the balanced and, indeed, to developing countries throughout budget amendment in the House. But this can the world. We're trying to promote countries be resolved fairly quickly, and it needs to be. that are moving toward market reforms and Q. Mr. President, there's a suggestion by moving toward democracy, not to undermine some leaders that support is eroding for the them. And it's very much in our personal inter- package rather than increasing. Do youÐis that est to do so. It is not a Wall Street bailout, the case? it's in America's interest to build the kind of The President. Well, I think it will increase future we want. again once people look at the facts, if we get Q. Are you optimistic you'll get a package a bill out there. We need toÐthe bill needs this week or next? to go in. And Secretary Rubin has and others The President. I'm optimistic that we'll pass have negotiated in great detail and in good faith it because more often than not in very difficult with the appropriate leaders in the Congress, issues the Congress does the right thing. And the committee chairs and others. And I think we've got a new and different Congress, but they're ready for a bill to go forward. And it's I think they'll do the right thing. time to get it in and go forward. Q. What do you think of critics who say it's NOTE: The President spoke at 12:08 p.m. in the a bailout for Wall Street? Oval Office at the White House. A tape was not The President. It isn't a bailout for Wall available for verification of the content of these Street. There areÐfirst of all, helping the econ- remarks. Joint Statement With President Mircea Snegur of Moldova January 30, 1995 At the invitation of President Clinton, Presi- reduce government subsidies and privatize com- dent Mircea Snegur of the Republic of Moldova mercial enterprises. Noting Moldova's success made a working visit to Washington. During over the past year in reducing inflation and their discussions on January 30, the two leaders maintaining the value of its currency, President welcomed the strong state of U.S.-Moldovan re- Snegur pledged to continue working closely with lations, which have expanded considerably since international financial institutions such as the diplomatic contacts were established in 1992. International Monetary Fund and the World President Snegur described the substantial Bank. The Moldovan President reviewed the progress made toward economic and democratic democratic parliamentary elections conducted in reform in Moldova. He mentioned that prices February 1994, and the adoption of a new con- in Moldova have been completely liberalized, stitution enshrining respect for democratic gov- and reaffirmed his government's commitment to ernment and fundamental human rights. 115 VerDate 27-APR-2000 12:22 May 04, 2000 Jkt 010199 PO 00001 Frm 00115 Fmt 1240 Sfmt 1240 C:\95PAP1\95PAP1.018 txed01 PsN: txed01 Jan. 30 / Administration of William J. Clinton, 1995 President Clinton praised Moldova's economic President Snegur discussed with President and political development, which has placed that Clinton the status of negotiations toward a country at the forefront among the new inde- peaceful settlement of the separatist dispute in pendent states of the former Soviet Union, and Moldova's eastern Transdniester region. He as- reiterated continued U.S. support for Moldovan sured President Clinton of his commitment to reforms. President Clinton announced that a peaceful, negotiated settlement of the dispute Moldova will receive $22 million in technical in accordance with international standards and assistance in fiscal year 1995, targeted primarily in cooperation with the international community, on privatization, economic restructuring, health including the Organization for Security and Co- and exchanges. This brings the total of U.S. operation in Europe (OSCE). President Snegur assistance to Moldova since 1992 to well over described recent progress in negotiations to re- $200 million. President Snegur expressed his ap- establish economic links between the commu- preciation for U.S. assistance over the past three nities on both sides of the Dniester River, and years and cited the important impact this aid to formulate a special status for the has had on the success of reform in Moldova. Transdniester region within a unified Moldovan President Clinton and President Snegur dis- state. President Clinton lauded President Snegur cussed the inauguration of new programs in for Moldova's exemplary approach toward peace- 1995 to assist Moldova in creating its first stock ful resolution of this internal political dispute. exchange, to help emerging small businesses in He reaffirmed the United States' support for the independence, sovereignty and territorial in- the regions outside Chisinau, to expand a pro- tegrity of Moldova and applauded its positive gram of technical assistance and training in agri- human rights record, particularly its treatment business development, and to establish a perma- of national minorities. President Clinton reiter- nent office of the Western NIS Enterprise Fund ated that the United States would continue to in Chisinau. President Snegur requested that the promote a settlement of the Transdniester dis- United States further its efforts to promote U.S. pute, including through its cooperation with the investment in Moldova, underlining that a favor- OSCE. able legal framework has been established to President Snegur reviewed the status of nego- achieve this goal. The Peace Corps will initiate tiations between Moldova and Russia concerning an Economic Development Program, expanding the withdrawal of the Russian 14th Army, noting its current work to include volunteer advisers the importance of the October 1994 framework for small businesses and local entrepreneurs. agreement establishing a three-year withdrawal Moldova and the U.S. Department of Agri- timetable. President Clinton expressed his ex- culture are finalizing an agreement for $10 mil- pectation that Russia and Moldova would imple- lion in concessional food sales in 1995, and an ment the terms of the agreement expeditiously additional $2 million in food donations. The De- and comprehensively, paying particular attention partment of Agriculture will also fund at least to the withdrawal of military equipment. The 16 Moldovan participants in the Cochran Fel- two presidents welcomed the OSCE's construc- lowship Program for 1995, which provides train- tive role in following the implementation of the ing programs in the United States for selected withdrawal agreement and searching for a lasting agricultural specialists. President Clinton an- political solution of the problems in the eastern nounced the United States will seek beneficiary part of Moldova, as called for in last month's status for Moldova under the Generalized Sys- OSCE Budapest Summit. tem of Preferences (GSP). Such a step is de- President Clinton and President Snegur noted signed to promote greater bilateral trade the great strides made in recent years toward through tariff reductions on various commercial overcoming the division of the European con- items. During his visit to the White House, tinent and opening the way for closer coopera- President Snegur and Vice President Gore tion among the European states. During Presi- signed the Globe Bilateral Agreement for Co- dent Snegur's visit to the Pentagon, he and De- operation. The Globe program, initiated by the fense Secretary William Perry signed a Joint United States, is an international environmental Statement on Future U.S.-Moldovan Defense science and education program that will bring and Military Relations. President Clinton wel- students, teachers and scientists together to comed Moldova's decision to participate in the study the global environment. Partnership for Peace, an important component 116 VerDate 27-APR-2000 12:22 May 04, 2000 Jkt 010199 PO 00001 Frm 00116 Fmt 1240 Sfmt 1240 C:\95PAP1\95PAP1.018 txed01 PsN: txed01 Administration of William J. Clinton, 1995 / Jan. 30 in an emerging new security concept for Eu- President Clinton and President Snegur ex- rope. Under the Warsaw Initiative, the United pressed the belief that the visit by President States will seek to provide Moldova assistance Snegur contributed greatly to further strength- in the next fiscal year to complement Moldova's ening bilateral relations. President Snegur ex- own resource commitments for Partnership ac- pressed his warm appreciation to President Clin- tivities. The two leaders reaffirmed their support ton and the people of the United States for for coordinated international efforts, through the opportunity to visit.