From: twright@orion.it.luc.edu (Talmadge Wright) Subject: Chase Manhattan wants everyone to know (fwd) To: psn@csf.colorado.edu Date: Tue, 14 Feb 1995 08:54:08 -0600 (CST) Status: RO In case some of you on the PSN list did not see this it reconfirms what I had said to a colleague about the relationship between the Zapatistas and the financial markets. While Mexico's peso devaluation was surely a result of unstable financial markets, the catalyst in fact has been the possibility of domestic disruption promised by the Zapatistas. Talmadge Forwarded message: > From root Mon Feb 13 23:56:35 1995 > Resent-Date: Mon, 13 Feb 1995 23:54:01 -0600 (CST) > Date: Mon, 13 Feb 1995 23:54:01 -0600 (CST) > From: Rust Gilbert > Subject: Chase Manhattan wants everyone to know > To: nwrc@wwa.com > Message-Id: > Mime-Version: 1.0 > Content-Type: TEXT/PLAIN; charset=US-ASCII > Resent-Message-Id: <"nn7ta3.0.8P1.MO4Gl"@sashimi.wwa.com> > Resent-From: nwrc@wwa.com > X-Mailing-List: archive/latest/35 > X-Loop: nwrc@wwa.com > Precedence: list > Resent-Sender: nwrc-request@wwa.com > > 'U.S. Bank disavows newsletter on Mexico' > > NEW YORK, Feb. 13 (UPI) -- Chase Manhattan Bank distanced itself > Monday from a newsletter produced by its Emerging Markets Group that > called on Mexico to "eliminate the Zapatista" rebels in the southern > state of Chiapas. > The four-page newsletter, "Mexico - Political Update," authored by > Riordan Roett "does not reflect the opinion of Chase Manhattan," a > bank official said. > Roett, director of Latin American Studies at the John Hopkins School > of Advanced International Studies who was on leave of absence while > serving as a Chase adviser, "is not, and will not be available," she > said. > The Jan. 13 newsletter was released as President Clinton proposed a > $40-billion loan guarantee to prop up the fumbling Mexican peso that has > lost more than 40 percent of its value in relation to the dollar. > Analysts have pointed to the uprising in Chiapas as a major element > in the flight of foreign investors that weakened the Mexican peso. > "The uprising has boosted the price of the Mexican Indian blood," > said the man known as Subcommander Marcos, who leads the Zapatista > National Liberation Army in Chiapas. > "Not long ago, it was valued less than two chickens, now it is the > condition for the largest loan of ignominy in history," he said Monday. > The Chase newsletter said "the uprising in Chiapas is now one year > old and no nearer to resolution." > After a reference to "local peasants groups who are sympathetic to > Marcos and his cronies," Roett said that the government of President > Ernesto Zedillo "will need to eliminate the Zapatistas to demonstrate > their effective control of the national territory and of security > policy." > Regarding the elections this year in the states of Jalisco, > Guanajuato, Yucatan, Michoacan, and Baja California, Roett wrote that > "the Zedillo administration will need to consider carefully whether or > not to allow opposition victories if fairly won at the ballot box." > "To deny legitimate electoral victories by the opposition will be a > serious setback in the President's electoral strategy," Roett wrote. > "But a failure to retain PRI control runs the risk of splitting the > governing party." > The Revolutionary Institutional Party (PRI), has ruled Mexico since > the 1920s. > > > -- ********************************************************************** Talmadge Wright (312)508-3451 * Dept. of Sociology & Anthropology FAX:(312)508-3646 * Loyola University Chicago twright@orion.it.luc.edu * 6525 N. Sheridan Rd. * Chicago, Illinois 60626 * **********************************************************************