• Short Summary

    France launched a major economic initiative on Wednesday (18 August) in the midst of the world economic crisis caused by President Nixon's measures to halt American inflation.

  • Description

    France launched a major economic initiative on Wednesday (18 August) in the midst of the world economic crisis caused by President Nixon's measures to halt American inflation. French ministers have proposed the establishment of a two-tier system on foreign exchange markets in Western Europe and have called for a complete re-examination of the international monetary system.

    An officials statement said President Pompidou was proposing a summit meeting between leaders of the Common Market countries and applicant nations - a move which could have important international political effects. The proposals were made known after a meeting between M. Pompidou and his top minister who also affirmed the maintenance of the franc at its present gold parity.

    President Pompidou's statement was given to newsmen by M. Michel Jobert, a ministerial secretary.

    SYNOPSIS: President Pompidou met with his top ministers in Paris on Wednesday for urgent discussions on the world economic crisis caused by President Nixon's moves to halt inflation in the United States.

    Ministerial secretary Michel Jobert later issued a statement to newsmen
    The French Ministers proposed that a two tire system on foreign exchange markets in western Europe be established, and that there should be a complete reexamination of the international monetary system. President Pompidou has proposed a summit meeting between countries and applicant nations - a move which could have important international political effects.

    American visitors in France found that the best value for their dollar was at the American Express offices. Tourists exchange their money.

  • Tags

  • Data

    Film ID:
    VLVA1QTSGHKU4H4HTRV7XRG36X1FY
    Media URN:
    VLVA1QTSGHKU4H4HTRV7XRG36X1FY
    Group:
    Reuters - Including Visnews
    Archive:
    Reuters
    Issue Date:
    19/08/1971
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:43:00
    Time in/Out:
    /
    Canister:
    N/A

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