GINGRICH SETS UP IRAN-BOSNIA ARMS LINK INVESTIGATION.

Byline: John Diamond Associated Press 

House Speaker Newt Gingrich established a special panel Wednesday to investigate the Clinton administration's role in allowing Iranian arms to flow to Bosnia.

Asserting that President Clinton might have helped Iran gain a foothold in Europe, Gingrich set up an eight-member panel - five Republicans, three Democrats - to examine the 1994 arms shipments that went through despite an international arms embargo.

The investigation, a slap at Clinton on foreign policy grounds, would be completed after Labor Day during the final stretch of the presidential campaign. Senate Majority Leader Bob Dole, the all-but-certain Republican presidential nominee, has asked for hearings on the arms shipments.

``President Clinton's policy of virtually inviting Iran into Europe could have disastrous results for America,'' said Gingrich, of Georgia. ``The president undertook this reckless policy hastily and then kept it secret from Congress, the American people and our European allies.''

White House spokesman Mike McCurry rejected Gingrich's assertions.

``It did not give a foothold to Iranians in Bosnia because the Iranians were already there,'' McCurry said. ``The administration . . . is more than anxious to tell the story about how we conducted that diplomacy and what our objectives were because it led to a very positive outcome.''