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The French Socialist government is expected to give the political ''guillotine'' to a top ex-communist leftist. He is Regis Debray, President Francois Mitterrand's liaison to developing countries and leftist regimes. Following a voter wrist-slapping in this month's local elections, Mitterrand is moving to the center, jettisoning radical members like Debray, who once worked with Latin American revolutionary Che Guevara.

His replacement, sure to please US officials, is Eric Arnoux, economist, novelist, political science professor - and a moderate.m