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...stream, no more than a dozen feet wide along much of its meandering course from Mount Barouk to the Mediterranean Sea. What makes the river significant, however, is not its size but the fact that its banks will mark a new military line once the Israeli army completes its partial withdrawal this fall. As such, the Awali has become the latest symbol of the fragmentation of Lebanon...

Author: /time Magazine | Title: Middle East: A House Divided | 8/8/1983 | See Source »

Those words were meant to assuage Lebanese President Amin Gemayel, who on a visit to the White House two weeks ago had expressed the fear that a partial Israeli withdrawal would give the Syrians an excuse to stay in the country indefinitely. In fact, the Israeli promise amounts to little more than words. The U.S. failed to secure a timetable for future withdrawals and did not discuss how Israel planned to patrol southern Lebanon once the redeployment was completed. When Gemayel finished his talks in Washington, according to a top State Department official, the U.S. promised "to do the best...

Author: /time Magazine | Title: Middle East: A House Divided | 8/8/1983 | See Source »

Nonetheless, Washington still hopes that by depicting the partial pullback as the first step in a complete Israeli withdrawal, it may be able to prevail upon Syria to remove some of its soldiers as well. As Reagan explained at his White House press conference last week, "It certainly will give us a better case for breaking the roadblock that has been established by Syria and persuading them to keep their original promise that when others withdrew, they would withdraw." That is the essence of the message U.S. Special Envoy Robert McFarlane is expected to carry to Syria on his first...

Author: /time Magazine | Title: Middle East: A House Divided | 8/8/1983 | See Source »

...finally arrived last week for the Washington Public Power Supply System. D for default. D for debacle. With its coffers almost empty, WPPSS or Whoops, as everyone now calls the agency, formally declared that it could not repay $2.25 billion in bonds used to finance partial construction of two now abandoned nuclear power plants in Washington State. It is by far the largest municipal bond default in U.S. history, and the damage is incalculable. The fiasco has robbed thousands of investors of their savings, shaken confidence in the municipal bond market, angered and humiliated the people of the Northwest, tarnished...

Author: /time Magazine | Title: Whoops! A $2 Billion Blunder: Washington Public Power Supply System | 8/8/1983 | See Source »

...agreement helps soothe the jangled nerves caused by U.S. policies during the past few years on sales to the Soviet Union. In 1980 the Carter Administration imposed a partial embargo on such sales in retaliation for the Soviet invasion of Afghanistan. The Soviets responded by lining up other suppliers, including Argentina, Canada, the European Community and Australia. Result: the embargo was almost ineffective and cut the U.S. out of sales just when Soviet demands were surging. During the past twelve months those sources supplied 80% of Moscow's import needs. Before the embargo, the U.S. provided 70% of Soviet...

Author: /time Magazine | Title: Good Harvest: A new U.S.-Soviet grain deal | 8/8/1983 | See Source »

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