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LTTE should read the writing on the wall

The US position that the LTTE must negotiate with the Lankan Government in earnest, lay down arms and renounce terror, for its delisting as a foreign terrorist organisation, indicates that there would be no let-up in US efforts to crack down on the LTTE, as long as it remains wedded to terror.

US Ambassador-at-Large and State Department Coordinator for Counter Terrorism, J. Cofer Black made the US Government's position on this issue amply clear.

He said that the LTTE would remain on the US list of foreign terrorist organisations, "until they show by word and deed that they are negotiating in good faith...." Cofer Black was quoted as saying.

We hope that this reiteration of the US Government's position would enable the LTTE to see the writing on the wall and hasten to the negotiating table in a spirit of compromise and goodwill. While all preliminaries must be gone through with expeditiously to enable the GoSL-LTTE negotiations to resume, the LTTE must approach the task of talking with a genuine desire to resolve the conflict on equitable terms.

The bloody travails of this country over the past 25 years should convince the LTTE that it needs to be flexible and accommodative at the talks, lest it wants to prolong Lanka's suffering and that of the Tamil people, on whose behalf it claims to fight.

Moreover, it should be clear as day to the LTTE that terror has no takers internationally. Nor would mindless militancy win acceptance on the global stage. The prime powers of the world, who shape the current international order, are likely to be solidly behind the US in its denunciation of terror.

So, there is simply no space, regionally and globally, for the exercise of terror for political purposes. On the domestic scene, only those who are fanatically loyal to the LTTE, would find terror acceptable. Thus, the LTTE would do well to call it a day and give negotiations a chance.

Since terror has no takers of repute, the LTTE has no choice but to attune itself to a democratic culture. At the moment, the LTTE is engaging in a killing spree with the expectation of exercising its diktat despotically in the North-East. It should know by now that there is simply no supportive environment for this tyrannical path to power.

Tyrants sow the seeds of their own destruction. This much is clear. On the other hand, the democratic process offers prospects of the LTTE exercising power on the basis of a popular mandate. The Government is ready for negotiations in a spirit of compromise. The LTTE would do well to reciprocate in like spirit.

Pyramid schemes

Pyramid and network marketing schemes have very much been in the news recently. Pyramid operators and the Central Bank are engaged in an advertising battle, with the latter warning the public not to fall prey to these dubious schemes.

Nevertheless, thousands of Sri Lankans have parted with their hard-earned money in the hope of earning even more through these schemes.

Now President Chandrika Bandaranaike Kumaratunga has endorsed and approved the action taken by the Central Bank and the Customs and the proposal to introduce legislation to halt the operation of any Pyramid schemes in the future.

These are timely steps, considering the fact that more than US$ 50 million (Approx Rs.5000 million) has already gone out of the country through these schemes. This is by no means a small sum. Such funds would have been better utilised for development and social welfare at home.

Moreover, the acquisition of unproductive products such as gold coins through these schemes does not help increase the well-being of the people.

As President Kumaratunga has pointed out, even developed countries have specific regulations aimed at prohibiting these schemes. This is one reason why operators of these schemes are attempting to exploit the public of developing countries such as Sri Lanka which do not have adequate legislation to prevent such schemes.

Another sordid aspect is the involvement of employees of banks, financial institutions, and also of the government in promoting these schemes. The President has noted that such actions violate the job description of these officers.

But many have been unable to resist the lure of 'easy money'. It is even more appealing if the investment is doubled or tripled, as some of these money-making schemes promise. The net becomes wider as these schemes generally require each participant to introduce two or three others to the 'pyramid'. The collapse of the pyramid midway could cause substantial losses to all participants.

Legislation against these schemes has become essential because they apparently take advantage of loopholes in financial laws. They are also unregulated, i.e. not subject to supervision by any monetary institution. The authorities however face the challenge of formulating such laws in a manner that does not impinge upon the relaxed foreign exchange regulations prevailing in an open economy.

It is upto each individual to decide on how his or her money is spent. But it is advisable to do business with a reliable, well-established bank or similar institution. There could be seemingly faster ways to earn money, but they are not always safe.

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