MARKETS EUPHORIC OVER LEBED APPOINTMENT.

Russia’s capital markets reacted with enthusiasm yesterday to the news of Yeltsin’s deal with Lebed, seeing it as likely to promise four more years of Russian economic reform. (BBC, Financial Times, June 19) Activity was sharply up by both foreign and domestic investors. Lebed’s economic program was authored by economic Vitaly Naishul, known as the freest of Russia’s free-marketers, and was received with respectful applause from the reform-oriented media when it appeared shortly before the election.

New Russian Defense Chiefs Oppose NATO Enlargement.