ANALYSIS
DETROIT'S
HIGHEST
RATES
Round Morro
Continued from Page 1
12 MONTH CERTIFICATE OF DEPOSIT
8.200%
8.456%
8.300%
8.562%
4
Effective Annual Yield'
Minimum Deposit of $500
Effective Annual Yield'
Minimum Deposit of $75,000
*Compounded Quarterly
Rates to change without notice
This is a fixed rate account that is
insured to $100,000 by the Federal
Savings and Loan Insurance Cor-
poration (FSLIC). Substantial Interest
Penalty for early withdrawal from
certificate accounts.
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government, said Shamir
after presenting his coalition
to the Knesset for approval,
will be "to counter the PLO's
propaganda offensive over a
Palestinian state?'
"The developments in the
international arena require
us to bridge our differences
and solve our problems
together," he said.
Said Peres: "We have two
views, but only one country
and one future?'
The new coalition agree-
ment is strikingly similar to
the old one, and according to
one political observer in
Jerusalem, Shamir and Peres
"will not be moving
anywhere very fast, policy-
wise."
"Unless they both happen
to be on exactly the same
wavelength to start with,
they will go forward like two
convicts in leg-irons, hobbling
painfully. And if hobbling
proves too painful, they will
simply stand still?'
The agreement that was
signed and approved by the
Knesset last Thursday
represented a series of conces-
sions and compromises which
left both sides with rather
less than they had hoped for.
On balance, it appears that
Labor, which emerged from
the election with just one seat
less than Likud, has got the
shorter end of the stick.
It is Likud leader Shamir
who will be prime minister
for the full four-year term of
the new government (no rota-
tion this time), and it is his
party colleague Moshe Arens,
former ambassador to
Washington and defense
minister, who will be foreign
minister.
At the same time, Labor
leader Peres has had to settle
for the post of finance
minister, while his No. 2, Yit-
zhak Rabin, himself a former
prime minister, will remain
as defense minister, where he
has pleased the Likud compo-
nent of the government by his
hard-line response to the
Palestinian uprising over the
past year.
In terms of the coalition
agreement, Labor has rolled
back the number of new
Jewish settlements, which
Shamir had earlier promised
the ultra-nationalist lbhiya
Party he would construct in
the occupied territories, from
40 to eight.
While new Jewish set-
tlements in the West Bank
and Gaza are fully compatible
with Shamir's philosophy, he
must be relieved to be un-
burdened of this particular
deal, which would have
presented him with the twin
embarrassment of finding
souls to populate them and
money to finance them.
He must also be relieved
that Labor will help to reduce
the combined weight of the
religious blocs, which had
demanded an amendment to
the Law of Return and
stricter Sabbath observance.
These two measures would,
respectively, have alienated
millions of Diaspora Jews and
angered hundreds of
thousands of Israelis.
Three religious parties
(though not lbhiya) have in-
deed joined the new coalition,
and the issues they demand-
ed will certainly be debated
in the Knesset. Now, however,
they will no longer have the
power to bring down the
Shamir government if their
demands are not met.
For the Labor leader, there
is some small consolation in
having won the Finance
Ministry: from this position,
Peres will be able to give
special attention to two Labor
affiliates that have fallen on
hard times — the kibbutz
movement and the ailing
Koor conglomerate, which is
owned by the Histradut trade
union federation.
Labor will enjoy parity in
the bloated cabinet, which
will contain a record 28
members (fOr the first time,
there will be more ministers
than seats around the cabinet
table), and it will enjoy pari-
ty in the 10-member inner
cabinet.
As in the previous national
unity government, therefore,
each side will hold the power
of veto over the other, a for-
mula for yet another four
years of political paralysis.
Shortly after the coalition
agreement was signed last
week, Nimrod Novik, a close
Peres aide, conceded that
Labor was unlikely to per-
suade a Likud-led govern-
ment to pursue the path to
peace via an international
peace conference.
"It's a sad day for those who
were hoping to see a dynamic
peace process," he said. "Our
role in the government will be
preventative rather than
creative. We will be aiming to
influence the people rather
than the government."
4