Скачать или смотреть ALBANIA: PUBLIC UNREST LOOKS SET TO WORSEN

(15 Feb 1997) English/Nat

Public unrest resulting from the collapse of several pyramid investment companies in Albania looks set to worsen.

Albania's largest high paying investment scheme, V-E-S-A holdings, has recently stopped repaying capital to investors and has sharply reduced interest rates.

And with most of V-E-S-A's investors living in Tirana, observers fear a collapse will plunge the capital into violence, as has been the case in other Albanian towns.

In Tirana, a crowd gathers outside a V-E-S-A investment company office.

They wait for their names to be called out loud -- only a few will be allowed to enter.

V-E-S-A is Albania's largest high paying investment scheme.

Its troubles follow Albania's recent economic and political crisis -- a crisis sparked by the high-profile collapse of several pyramid investment schemes in which many Albanians lost their life savings.

V-E-S-A was founded in 1992 by a former Albanian Army Sergeant Vehbi Alimucaj, and it quickly became the best-known private enterprise -- a household name in Albania.

Some analysts say it will collapse, and if it does, violence of the type which has swept Vlora may come to Tirana, where most of the company's investors reside.

The company says it makes between 180 and 200 (m) million dollars in profits annually, but this has not prevented analysts predicting its demise.

SOUNDBITE: (English)
"Well, not only as an economist, but also as an Albanian citizen, I like VESA company and Canberri and other companies to be sound financially and to have good prospects for the benefit of the entire population. I believe I am afraid that the lack of transparency on their part makes me a little afraid."
SUPER CAPTION: Jorgji Kote, Economist

Albanian President Sali Berisha met local intellectuals and foreign ambassadors in Tirana on Saturday to discuss possible solutions to the economic and political crisis.

Religious leaders also attended.

On arrival, President Berisha gave the impression of a leader in control.

SOUNDBITE: (English)
"We'll see here the optimistic situation"
SUPER CAPTION: Albanian President Sali Berisha

And once inside, his words were welcomed by an enthusiastic crowd.

But in other Albanian cities Saturday, the picture was not one of calm.

Angry Albanian demonstrators took to the streets of Vlora again Saturday in the latest round of anti-government protests.

Vlora has now spiralled out of control with police unable to enter parts of the city.

Tyres were burning in the streets as people marched past them chanting anti- government slogans.

The protesters have accused the government of failing to protect them against collapsed investment schemes.

Similar demonstrations took place Saturday in the town of Fier.

Police were on alert for trouble, but, heavily outnumbered, they were forced to stand by and watch as the demonstrators passed.

But for a lot of chanting, the Fier protest passed peacefully.

The country and especially the capital Tirana, now waits to see what the government can do to ease the anger of the public and the dire economic conditions faced by the nation.

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