• Short Summary

    THE LATEST MONETARY CRISIS SHOWED NO SIGNS OF ABATING TODAY (WEDNESDAY) AS THE WORLD'S LEADING CENTRAL BANKERS AND FINANCE MINISTERS MET IN BONN, WEST GERMANY, TO TRY AND THRASH OUT A SOLUTION TO THE PROBLEM.

  • Description

    THE LATEST MONETARY CRISIS SHOWED NO SIGNS OF ABATING TODAY (WEDNESDAY) AS THE WORLD'S LEADING CENTRAL BANKERS AND FINANCE MINISTERS MET IN BONN, WEST GERMANY, TO TRY AND THRASH OUT A SOLUTION TO THE PROBLEM. THE RUN ON THE FRENCH FRANC AND THE SCRAMBLE TO BUY DEUTCHMARKS WAS TEMPORARILY HALTED AS THE MAIN EUROPEAN FOREIGN EXCHANGE MARKETS -- WITH THE EXCEPTION OF ZURICH -- STOPPED OPERATING.

    TOURISTS TRAVELLING WITH FRENCH FRANCS WERE IN TROUBLE AS FEW BANKS AND HOTELS THROUGHOUT WESTERN EUROPE WERE WILLING TO EXCHANGE FRANCS FOR OTHER CURRENCIES EXCEPT IN TOKEN AMOUNTS.

    THE BONN MEETING IS BETWEEN THE "BIG TEN" WESTERN INDUSTRIAL NATIONS -- THE UNITED STATES, BRITAIN FRANCE, CANADA, JAPAN, ITALY, WEST GERMANY, HOLLAND, SWEDEN AND BELGIUM. AT TODAY'S HASTILY CONVENED SESSION, MOST DELEGATES COMMENTED FAVOURABLY ON WEST GERMANY'S PROPOSED EXPORT TAX MEASURES, DESIGNED TO REDUCE A MASSIVE GERMAN TRADE SURPLUS BY MAKING EXPORTS DEARER AND IMPORTS CHEAPER. BUT THE FRENCH -- WHO WANT A REVALUATION OF THE DEUTCHMARK TO TAKE PRESSURE OFF THE FRANC -- ARE SAID TO HAVE BEEN NOT SO HAPPY. WHEN TONIGHT'S MEETING CONCLUDED, DELEGATES REFUSED TO ANSWER REPORTERS' QUERIES AND A QUESTION MARK REMAINED OVER THE TWO MAIN QUERIES (1) WOULD THE FRANC BE DEVALUED AND (2) WOULD THE DEUTCHMARK BE REVALUED?
    LAST NIGHT (TUESDAY) THE FRENCH PRIME MINISTER, MAURICE COUVE DE MURVILLE TOLD THE NATIONAL ASSEMBLY IN PARIS THAT THE DE GAULLE GOVERNMENT AIMED TO SLICE DRASTICALLY ITS 1969 BUDGET. HE GAVE NO PLANS OF THE PROPOSED CUTS BUT TOLD THE ASSEMBLY THAT FRANCE WOULD HAVE TO ACT AS QUICKLY AS POSSIBLE.

  • Tags

  • Data

    Film ID:
    VLVA7GA948CPNI8YVGXJQZJWIFN2J
    Media URN:
    VLVA7GA948CPNI8YVGXJQZJWIFN2J
    Group:
    Reuters - Source to be Verified
    Archive:
    Reuters
    Issue Date:
    20/11/1968
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Black & White
    Duration:
    00:02:16:00
    Time in/Out:
    /
    Canister:
    N/A

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