[Congressional Record Volume 141, Number 19 (Tuesday, January 31, 1995)]
[House]
[Page H955]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




 PRESIDENT SHOWS HIGH DEGREE OF LEADERSHIP BY HELPING MEXICO STABILIZE 
                  ITS ECONOMY THROUGH GUARANTEED LOANS

  (Mr. TORRES asked and was given permission to address the House for 1 
minute.)
  Mr. TORRES. Mr. Speaker, I think that today's action by the President 
of the United States in taking his prerogative as a Chief Executive to 
order an Executive order guaranteeing the $47.5 billion guarantees to 
Mexico was a prudent move. I believe it sends out a strong signal to 
the international markets, to the international community, that he is 
showing a high degree of leadership. Since we in Congress were not able 
to meet his request, I believe that the President is taking his 
prerogatives as the Chief Executive to order those guaranteed loans 
which will go a long ways in seeing to it that the Mexican peso is 
stabilized, that the economy of Mexico can be stabilized, for not to do 
so would have a serious negative impact on American workers and on our 
relationships with that country, not to speak of the problems that it 
would cause as a domino effect in Brazil, and Argentina and other 
developing nations.
  So, Mr. Speaker, I believe that today's move by President Clinton was 
an important one and indicates once again that he is willing to make 
tough decisions in a crisis time like this.


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