• Short Summary

    PRESIDENT DE GAULLE TODAY (SUNDAY) URGED FRENCHMEN TO RALLY TO A PROGRAMME OF AUSTERITY TO HELP THE COUNTRY OUT OF ITS FINANCIAL AND ECONOMIC DIFFICULTIES, AFTER ANNOUNCING A NEW SERIES OF MEASURES TO REVIVE THE AILING FRANC.

  • Description

    PRESIDENT DE GAULLE TODAY (SUNDAY) URGED FRENCHMEN TO RALLY TO A PROGRAMME OF AUSTERITY TO HELP THE COUNTRY OUT OF ITS FINANCIAL AND ECONOMIC DIFFICULTIES, AFTER ANNOUNCING A NEW SERIES OF MEASURES TO REVIVE THE AILING FRANC. THESE INCLUDE A TRIMMING OF THE 1969 BUDGET TO CUT THE EXPECTED GBP1,000 MILLION STERLING DEFICIT BY NEARLY HALF, CONTROLS ON CURRENCY EXCHANGE, AND A HOLD ON NEW WAGE INCREASES COUPLED WITH A FIRM HAND ON PRICES. DETAILS OF THE NEW ECONOMIC POLICIES HAD BEEN EARLIER PRESENTED TO REPRESENTATIVES OF THE 15-MEMBER FRANC ZONE AT AN EMERGENCY MEETING IN PARIS.

    THE FRANC ZONE MINISTERS AND AMBASSADORS WERE BRIEFED AT THE SECRET MEETING BY THE FRENCH FINANCE MINISTER, M. FRANCOIS XAVIER ORTOLI. THE ZONE LINKS FRANCE WITH 14 AFRICAN COUNTRIES.

    M. ORTOLI EXPLAINED RECENT FINANCIAL EVENTS DURING THE 85-MINUTE MEETING, WHICH WAS ATTENDED BY SEVEN FINANCE MINISTERS, A MINISTER OF COMMERCE AND DIPLOMATIC REPRESENTATIVES.

    A COMMUNIQUE ISSUED AFTER THE MEETING SAID THE REPRESENTATIVES OF THE ZONE, AFTER EXPLAINING THE FINANCIAL SITUATION IN THEIR RESPECTIVE COUNTRIES, HAD AGREED TO CONTINUE IN VERY CLOSE CO-OPERATION ON ALL MONETARY AFFAIRS.

    THE ZONE WHOSE MINISTERS MEET EVERY SIX MONTHS BEFORE MEETINGS OF THE INTERNATIONAL MONETARY FUND, PROVIDES EACH MEMBER COUNTRY WITH A FIXED CURRENCY PARITY IN RELATION TO THE FRANC.

    COUNTRIES IN THE ZONE WITH FRANCE ARE SENEGAL, MAURITANIA, IVORY COAST, DAHOMEY, TOGO, NIGER, MALI AN DUPPER VOLTA, WHICH ARE GROUPED IN THE WEST AFRICAN MONETARY UNION - CONGO - BRAZZAVILLE, CHAD, GABON, CAMEROUN AND CENTRAL AFRICAN REPUBLIC - GROUPED IN THE CENTRAL BANK OF EQUATORIAL AFRICA - AND MADAGASCAR.

  • Tags

  • Data

    Film ID:
    VLVA7DU6ZJBJ0UIRVFVGLUFWND88A
    Media URN:
    VLVA7DU6ZJBJ0UIRVFVGLUFWND88A
    Group:
    Reuters - Incuding Visnews
    Archive:
    Reuters
    Issue Date:
    24/11/1968
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:19:00
    Time in/Out:
    /
    Canister:
    N/A

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