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t was pure coincidence that the
delegation from the European
Union (known as the "troika")
was visiting Israel when the
country's terrible monthly trade
deficit figures were announced
(see Israel Digest, Page 49). But
the two are certainly related.
The Israel Foreign Ministry is
trying hard to persuade the gov-
ernment to sign the new trade
"agreement" it has "negotiated"
with the EU.
It is not often that we agree
with the Trade and Industry
Ministry or the Agriculture Min-
istry, but both are quite right in
saying that we•might just as well
hang out a white flag as sign the
agreement.
The Foreign Ministry, with its
obsequious ghetto mentality,
views the very fact that the Eu-
ropeans are talking to us as a ma-
jor achievement.
Given that they run a $7.5 bil-
Neil Cohen covers business for
the Jerusalem Post.
lion annual trade surplus with
us, it would be astonishing if they
did not!
The Foreign Ministry, though,
would, for example, have us pay
a $30 million annual fee for mem-
bership in the EU research and
development projects club with-
out getting any say in how those
projects are allocated.
Whether or not we would see
a penny of return on our invest-
ment would be decided at the
whim of the troika - the same
people who sell arms to countries
sworn to our destruction but
maintain an embargo on selling
arms to us.
The Foreign Ministry, hell-
bent on creating its "new Middle
East," says that it's no matter
that we're being raped, so long as
he's from a good family and any-
way, don't confuse me with de-
tails.
That's one hell of a way to ne-
gotiate. ❑
.1•11MMI.
First of Michigan
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LEADING ISRAELI STOCKS
TRADED ON U.S. EXCHANGES
Feb. 17
Change
Symbol
Name
Exchange
Feb. 10
SCIXF
Scitex
NASDAQ
'19.00
5
ECI LF
ECI Telecom
NASDAQ
'14.88
'15.88
+'1.00
TEVIY
Teva Pharm
NASDAQ
'26.50
'26.63
+50.13
I EC
PEC Israel
NYSE
'24.13
'24.38
+$0.25
ELBTF
Elba Computers
NASDAQ
'19.75
'19.50
3
0.25
ELT
Elscint LTD
NYSE
'2.00
'1.88
3
0.13
EL RN F
Elron Electronics NASDAQ
'9.50
5
TAD
Tad iran
NYSE
'17.25
'16.50
3
CMVT
Comverse
NASDAQ
'12.00
'12.75
+s0.75
LANTF
Lan net Data
NASDAQ
'24.25
'22.75
I SL
First Israel Fund NYSE
'10.63
5
17.38
9.75
10.88
3
1.63
+$0.25
3
0.75
1.50
+S0.25
Call an FoM Investment Executive Today and Get Your
Retirement Plan Into High Gear:
54
CALL 1-800-826-2039
Source: Allen Olender, Prudential Securities,
West Bloomfield.