• Short Summary

    FRENCH PRESIDENT IN NATIONWIDE TELEVISION BROADCAST WARNS CURRENT STRIKE WAVE COULD LEAD TO "GENERAL IMPOVERISHMENT"
    French President Georges Pompidou warned September 22 in a nationwide television broadcast that if the Government's save-the-france recovery plan failed because of the current strike wave, every Frenchmen would face "general impoverishment".

  • Description

    FRENCH PRESIDENT IN NATIONWIDE TELEVISION BROADCAST WARNS CURRENT STRIKE WAVE COULD LEAD TO "GENERAL IMPOVERISHMENT"
    French President Georges Pompidou warned September 22 in a nationwide television broadcast that if the Government's save-the-france recovery plan failed because of the current strike wave, every Frenchmen would face "general impoverishment".

    He said "The future of each Frenchman hinges on the success or failure of the plan. The success or failure of the plan depends on the help of each Frenchmen."
    "All social classes will feel the backlash of what would amount to a general impoverishment," he cautioned restive workers.

    The President - a former Rothschild banker - said "France must become an economic power in 5 to 7 years. This requires patience and a big effort."
    He said he was confident the france which he devalued by 12.5 per cent on August 8 would overcome its current weakness. He ascribed its current shakiness to the recent rail and underground strikes, the continuing trade deficit, and a sharp quarrel in the National Assembly over whether to prosecute alleged speculators in violation of banking secrecy.

    Pompidou upheld his decision to devalue the franc, pointing out France was losing 250-300 million dollars (104-125 million pounds) every month, mainly through her trade deficit, and the flight of capital after the 1968 spring riots.

    Pompidou said that in addition to the economic wounds wrought in 1968, France was still paying the price of deep-rooted weaknesses piled up in the years between the two world wars. Between 1913 and 1938, France's living standard had risen an insignificant 10 per cent. Today's greater longevity and higher birthrate meant that 20-million Frenchmen had to support the total 50-million population.

    Pompidou remarked that only three out of 30 big European companies of truly international scale were French. He also denounced the weakness of medium and small industries, warning that businessmen in neighbouring countries often had greater tax burdens than did the French.

    In his remarks on the economy and monetary situation, the President made three main points:
    1. France must expand her industrial strength at all cost, and there must be less Government interference in national and private industries.

    2. French industrialists, farmers and merchants must become aggressive" - go abroad and conquer foreign markets".

    3. The "law of profit" must guide both national and private and industries. "Profit must henceforth be considered as a guarantee of the future" he said.

    Pompidou sidestepped questions from journalists on whether he will put into effect General de Gaulle's ideal of worker "participation" in industry, and firmly upheld the need to maintain managerial responsibility.

  • Tags

  • Data

    Film ID:
    VLVA45LPC61BG6CRRRPFXITGQVI1V
    Media URN:
    VLVA45LPC61BG6CRRRPFXITGQVI1V
    Group:
    Reuters - Source to be Verified
    Archive:
    Reuters
    Issue Date:
    22/09/1969
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:02:13:00
    Time in/Out:
    /
    Canister:
    N/A

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