(5 Sep 1998) English/Nat
The U-S President Bill Clinton took steps to reassure Americans the national economy is healthy - despite one of the worst weeks in history for the world's financial markets.
In his weekly radio address, broadcast from the Irish town of Limerick, Clinton said the U-S economy was the strongest it has been for a generation.
After delivering the radio message, Clinton left Ireland to return home - where he will face growing anger of politicians and voters over the Monica Lewinsky scandal.
Friday's closing bell at the New York Stock exchange ended one the worst trading weeks in history, with share prices on a rollercoaster following the crisis in Russia.
For U-S President Bill Clinton, the past few days have not been much better.
He has been doing his utmost to appear a leader of a world power abroad, in what critics have said was an attempt to try and bury the Monica Lewinsky scandal.
In his weekly radio address on Saturday, Clinton focused on the need for
contact with Russia and Ireland.
SOUNDBITE: (English)
"We are in a global economy and we are affected by events beyond our shores. We cannot ignore them. And when we do things to help others meet their economic challenges, we are helping ourselves."
SUPER CAPTION: Bill Clinton, US President
Clinton's trip to Russia was not the great success he might have hoped for.
His meeting with President Boris Yeltsin in Moscow was overshadowed by the
financial and political crisis in Russia which sparked the global losses.
Clinton had nothing to offer Yeltsin to ease the situation.
However, the U-S leader said help would be forthcoming, once Russia implemented tough economic reforms.
SOUNDBITE: (English)
"I've said to Russia and our Asian trading partners, if you take the tough steps to reform yourselves and restore economic confidence, America will work with the international community to get back on your feet."
SUPER CAPTION: Bill Clinton, US President
At a meeting on Friday between U-S and Japanese Finance Ministers, there was little indication that Japan was ready to rise to Clinton's call for change.
The meeting held in San Francisco ended with no new commitments from Japan on measures to revive its sinking economy.
With the media full of warnings of an imminent recession in the U-S, Clinton reassured radio listeners that the national economy was fundamentally sound.
SOUNDBITE: (English)
"I ask Congress to step up to its responsibility for growth at home and financial stability abroad by meeting our obligation to the International Monetary fund. Markets rise and fall. But our economy is the strongest it's been in a generation, and its fundamentals are sound. Let's stay on the right track and take strong steps to steer our nation through the new global economy, so that we can continue to widen the circle of opportunity as we
approach the 21st century."
SUPER CAPTION: Bill Clinton, US President
Clinton set off for home on Saturday at the end of his week long trip to Ireland.
He is in for a tough ride when he gets back, with markets predicted to remain turbulent.
And there will be plenty more questions about his personal conduct.
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