• Short Summary

    Common Market Ministers met in an emergency session in Brussels on Saturday (8 May) to discuss the currency crisis brought about by the past week's massive inflow of U.

  • Description

    Common Market Ministers met in an emergency session in Brussels on Saturday (8 May) to discuss the currency crisis brought about by the past week's massive inflow of U.S. dollars into Europe. West Germany's mark has been worst-hit by the influx. West German politicians and their E.E.C. representatives have favoured allowing the mark to "float"...ie to establish its own level on the international market...if no Community action is taken. At the emergency session West Germany's Economics Minister, Professor Karl Schiller, suggested that all member-countries allow their currencies to do this, however the proposal is reported to have met with a generally cool reception. France and Italy, in particular, seemed certain the idea was not plausible. However, late in the evening, the executive commission of the E.E.C. recommended that central banks of the member-countries be allowed to "float" their currencies to put a brake on speculators.

  • Tags

  • Data

    Film ID:
    VLVA4TVVWAJF8ZL160U1D3ACXDX10
    Media URN:
    VLVA4TVVWAJF8ZL160U1D3ACXDX10
    Group:
    Reuters - Incuding Visnews
    Archive:
    Reuters
    Issue Date:
    08/05/1971
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:00:00
    Time in/Out:
    /
    Canister:
    N/A

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