MOTOR COACH TOURS - 13 YEARS EXPERIENCE!
OUR PRICES ARE:LOWEST
$ 99ff *
fr $ 179Pr
R. M ers
1 99° r
NONSTOP EVERY MORNING
and taking flak, but we've
> changed our minds."
So the question now, as Bank
of Israel Governor Jacob Frenkel
has argued, is not whether or
not to mobilize $10 billion in cap-
ital over the next five years but
how best to use it.
"Arithmetically, Israel doesn't
need the money," Mr. Frenkel
admitted. But he believes that
it can be employed to draw an-
) other half a million immigrants
to Israel by refurbishing the
country's infrastructure (roads,
communications, and the like),
/ improving education and ex-
panding business and industry
by investing in research and de-
Indeed, there seems to be gen-
eral agreement that the use of
the funds raised with the guar-
antees must be limited to as-
pects of development and that
every precaution must be taken
) to prevent the money from be-
ing sucked into the "black hole"
of Israel's national budget.
But though there's a broad
> consensus on what the money
must not be used for, there are
still clashing views on what con-
stitutes the valid disposal of
these special funds.
Finance Ministry Director-
General David Fogel has sug-
gested, for example, that a third
of the $10 billion be turned over
> to Israeli banks to provide long-
term credit to the business and
But Prof. Bruno views the
government's import of capital
to finance the private sector as
a violation of its agreement with
> the U.S. to effect a far-reaching
reform of the Israeli economy.
Bank Leumi Managing Di-
rector David Friedman went so
far as to declare that his bank
would have no part of such a
plan because "it would push the
economy back ten years."
On another occasion Mr. Fo-
gel also spoke of using some of
the funds to improve the struc-
ture of Israel's foreign debt (cur-
rently $23.4 billion) by
translating short- and medium-
term loans (which comprise 26
percent of the external debt) into
lower-interest, long-term cred-
Of all the suggestions made
during the current debate, how-
ever, perhaps the most revolu-
tionary though logical one came
from Prof. Fischer. Well versed
in the country's occasionally in-
scrutable ways, Prof. Fischer —
, whose counsel helped Israel
stabilize its economy after the
ravages of inflation in the ear-
ly 1980s — proposes that Jeru-
salem take full advantage of the
loan guarantees but forgo the
annual $1.2 billion in direct
American aid (which, he be-
lieves, is destined to be slash-
ed within the next few years
to accommodate American
strategic interests). ❑
NONSTOP EVERY SUNDAY
NONSTOP TO DENVER EVERY FRIDAY & MONDAY MORNING
AIR/HOTEL PACKAGE FR. $349.90
NONSTOP MORNING & EVENING DEPARTURES
AIR HOTEL 2 for $569.90
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PACKAGE FR. $639.90
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AIR4-10TELICAR PACKAGE FR. $249.90
EVERY THURSDAY & SUNDAY
7 & 14 NIGHTS
SATURDAYS, 7 &VI
STARTS SEPTEMBER 18
SATURDAYS, 7 & 14 NTS
STARTS NOVEMBER 6
* WE HAVE CONSUMER BANKRUPTCY INSURANCE *
Protect Yourself & Demand Proof Before Booking Any Trip!
* "MISS SAIGON" Toronto
* Aug. 21-22 (1 Nite)....Fr. $199 *
* Aug. 27-29 & Thru Nov.
* Hotel • Show • Tour (2 Nites Only) *
* SHAW FESTIVAL (Niagara-On- *
* The-Lake, Ont.)
* Aug. 20-22
* Hotel • 2 Plays • Dinners • Tour *
* Oct. 2-3
* Hotel • Dinner • 2 Plays • max *
* BRANSON, MO
* Sept. 12-18, Oct. 16-22,
* Hotels • Celebrity Shows • Meals *
* • Attractions • Tours • Much More! *
* WASHINGTON D.C. & GETTYSBURG *
* Sept. 9-13, 30-Oct. 4
* Battlefields • Hotels • Dinner
* Theatre • Meals • Tours • More! *
* POCONO MOUNTAINS
* Oct. 16-20
* Resort • Meals • Entertainment • More! *
* STRATFORD FESTIVAL
* "Gypsy" & "Mikado"
* Aug. 21-22
* "Mikado" — Aug. 25
* "Gypsy" — Aug. 29
* (Also Thru October)
* "TIGERS" VS. "BLUE JAYS"
* Baseball in Toronto —LAST CHANCE!
* July 30-Aug. 1 Fr. $189
* Hotel & 2 or 3 Games
* "CANADIAN ADVENTURE"
* (1000 Islands - Cruise - Ottawa
* - Montreal - Quebec City)
* Oct. 2-8
* Hotels • Tours • Meals • Much
* VERMONT/NEW HAMPSHIRE/
* MAINE, NEW YORK STATE
* Oct. 3-10
* Hotels • Meals • Cruises •
* Tours • More!
* "GERITOL FOLLIES"— Toledo
* Sept. 26
* Lunch • Spectacular Show!
* HONG KONG, SINGAPORE, BANGKOK
* Sept. 27- Oct. 7
* Round trip air and transfers • Hotels • Tours • More!
Prices p.p. dbl. occ. Group Discounts Availaple
BERKLEY TOURS AND TRAVEL, INC.
559-8620 OR 1-800-875-TOUR (8687)
Special Sale Price. 4
Other trips at every All U.S. destinations may be subject to a 10%
Federal Excise Tax. Operator Participation
day low prices.
29566 Northwestern, Southfield, MI
Contract Required. 1st day free car rental in
Las Vegas and all Florida destinations upon
initial booking. Rates vary with dates. All
seats are capacity controlled. Fares are
CALL YOUR TRAVEL AGENT Amra
HOLOCAUST MUSEUM DAY TRIP $175.90
August 24, 1993 Airfare, Transfers, Museum
October 4 -11
Enjoy the Total Spa Experience
Special Rates - Please call for details
ROYAL INTERNATIONAL TRAVEL
31455 Southfield Rd., Birmingham
our-slaw o 1)41
( PLUS AIR )
PRINCESS CRUISES9 1116.411111111'.
a fRESERVATIONS: 358. 5 3 30
for 25 years!
Shaiiii va l993
Plays by Bernard Shaw and his contemporaries (1856 - 1950).
THIS SUMMER ENJOY THE
SHAW FESTIVAL THEATRE EXPERIENCE
SAINT JOAN'I'FIE SILVER KING
THE MARRYING OF ANN LEM
Royal George 77leatm G ENTLEMAN PREFER BIONDI'S
AND THEN TFIERE WERE NONEwl'HE MAN OF DFSTINY
1800 Maplelawn, in the Troy Motor Mall
Performances Tuesdays - Sundays through October 31.
Quaint, historic Niagara-on-the-I ake offers wonderful inns, restaurants,
boutiques, wineries, Ontario's oldest golf course and waterfront bike paths.
A great getaway, four hours from Detroit!
RICHARD L. ARDEN, M.D., F.A.C.S
Upon Receiving Your Dual Board Certification in:
FACIAL PLASTIC & RECONSTRUCTIVE SURGERY
OTOLARYNGOLOGY HEAD AND NECK SURGERY
Love, Mother & Dad, Shoshana, Jolee, Ron & Grandma