Negotiators in Northern Ireland reached an agreement to end three decades of bloody political and sectarian strife. The accord must still be ratified by voters in the Irish Republic and Northern Ireland, and legislation must be passed by the British and Irish parliaments to transfer powers to a new Belfast Assembly and to set up a North-South council of lawmakers. Analysts noted that while the support of the most militant elements in Northern Ireland was not assured, the pact offered key concessions to all sides. Catholics will be rid of the hated "British rule," can strengthen ties with the republic through the cross-border council, and are protected by supermajority voting requirements in the new assembly. Protestants will be rid of the Irish Republic's constitutional claims on Northern Ireland's territory and will likely control the new assembly, which must ratify any council decisions. White House spinners rushed to highlight President Clinton's late-night phone calls to the negotiators, but the president modestly said he had only done "what I was asked to do." Clinton gave major credit to the participating political parties and to former U.S. Sen. George Mitchell, who presided over the talks for 22 painful months. It is, he said, "a day to celebrate." Most commentators agreed. (For British and Irish newspapers' reactions to the emerging pact see Slate's "International Papers.") (4/10)

Tobacco companies renounced their negotiations with Congress and said they will kill the bill drafted by Sen. John McCain, R-Ariz., which would charge them $500 billion without offering immunity from lawsuits. Their spin: 1) the bill would have bankrupted them; 2) nothing can be passed without their support; and 3) Congress has blown its chance to resolve the issue amicably. Pundits are splitting into three camps. Camp A says: 1) the companies were right to walk out, and Congress was stupid, because the bill offered the companies nothing (click here for James Surowiecki's take in Slate's "The Motley Fool"); 2) it was unfair of Congress to twist the original settlement into a purely punitive bill; and 3) if anti-smoking zealots keep overreaching, they'll ignite a backlash. Camp B says: 1) the companies are bluffing; 2) they don't deserve to be treated fairly; and 3) Congress can pass most of the bill with or without them. Camp C says: 1) if the companies are crying foul, we must be on the right track; 2) McCain is a piker, let's raise the ante even higher; 3) let's tax and regulate their brains out. (4/10)

Tornadoes killed more than 40 people in Alabama, Mississippi, and Georgia. Winds reached 250 mph, injuring hundreds of people and destroying at least a thousand homes. Meteorologists blamed El Niño for steering this year's tornadoes away from their usual killing ground: Texas, Oklahoma, and Kansas. The media scrambled for an instant spin, settled on Southern religion, and recounted numerous "miracles" in which this or that congregation or worshiper survived a tornado. God received credit for those who survived; nature took the blame for those who died. Meanwhile, in Mecca, scores of old people perished as Muslim pilgrims trampled each other during a religious ritual. (4/10)

Prime Minister Ryutaro Hashimoto announced $30 billion in income tax cuts to pump up Japan's deflating economy. U.S. officials and economists welcomed the move but worried that the cuts were 1) still unspecified and so unlikely to prompt a fast outbreak of consumer spending; 2) not part of a larger plan to deal with Japan's structural problems and so insufficient to spur long-term recovery; 3) embraced only after much pressure from foreign governments and so emblematic of Japan's hidebound political system. "It's yesterday once more in Japan," said the Washington Post. (4/10)

Microsoft has planned a media blitz aimed at state attorneys general and politicians, according to the Los Angeles Times. The campaign would allegedly include "spontaneous" letters to the editor and opinion articles commissioned from free-lance journalists and others. A Microsoft spokesman told the Times the plan was merely a proposal and "not something we are moving on." State officials termed the plan "arrogant." "When it comes to knowledge of computer technology, I take my hat off to Mr. Gates," said one attorney general, "but if he wants to enter the field of political intrigue, I say welcome to my world, Mr. Gates, I'm ready to do battle." (For more on Microsoft's antitrust problems, see the 4/6 item below.) (4/10)

Former Sen. Bob Packwood, R-Ore., is attempting a political comeback. He's giving speeches and floating the idea of a run for the Oregon legislature. His explanation: He's testing the "climate." Cynics' translation: He wants to see whether Clinton has made the world safe for politicians who grab women and then cover it up. (4/10)

Clinton administration officials say they will chastise Afghanistan about its repression of women. During his current tour of South Asia, U.N. Ambassador Bill Richardson will tell Afghanistan's ruling Taliban militia that world powers won't help or recognize its regime until it stops mistreating women, e.g., by preventing them from working and refusing to educate their daughters. Skeptics suggested that this is only a minor aspect of the trip and that the administration is playing it up to repair the domestic political damage caused by Clinton's sex scandals. (4/10)

President Clinton kicked off his series of forums on Social Security reform. Choices include raising the payroll tax (Clinton ruled this out--except maybe for higher-income workers), taxing more benefits, raising the retirement age, pouring the budget surplus into the Social Security trust fund to pay back its IOUs, and privatizing the system (a 1996 Slate piece by Michael Kinsley argues that this last option is no solution). Analysts are most impressed by the growing mainstream support for some degree of privatization, and Clinton is receptive to it, as long as the system still guarantees a minimum retirement benefit. Pundits are frustrated by Clinton's refusal to specify his solution. Clinton's spin: I'm letting the public discuss all options. Cynics' translation: He's conducting a nationwide focus group and postponing the decision until after the November elections. Republicans' translation: He's making sure we can't do to him what he did to us on Medicare. (4/8)

The Dow Jones industrial average closed above 9,000 for the first time. This was hardly acknowledged in most papers because 1) business reporters fixated on the Citigroup merger (see 4/6 item, below) and 2) 1,000 point milestones have become a yawner. Analysts explained once more that the market is overvalued but that you should stay in it anyway, because every time they persuade you to get out, you lose money. (4/8)

House Majority Leader Dick Armey denounced President Clinton. Armey told a high-school audience: "If it were me that had documented personal conduct along the lines of the president's, I would be so filled with shame that I would resign. This president won't do that. His basic credo in life is, 'I will do whatever I can get away with.' " Religious conservatives and political-warfare reporters cheered the GOP's newfound boldness. Clinton's response: "I hope he has a nice day." Meanwhile, Clinton's surrogates used the attack to cement their message that 1) Ken Starr is in cahoots with the GOP and therefore 2) any congressional investigation based on Starr's report would be bogus. (4/8)