President Pompidou today (Thursday) rejected revaluation of the france as "absurd and harmful", and reiterated his country's belief in fixed parities between international currencies.
LV Elysee Palace (2 shots)
MLV ZOOM IN TO CU Pompidou speaks (SOUND STARTS: "Notre premiere reaction...." SOUND ENDS: "...actuelle officielle."
MV Audience listening (3 shots)
MV Pompidou speaks SOUND STARTS: "Les relations..." ENDS: "... a un gouvernment."
Initials BB/0258 GL/BH/BB/0307
Script is copyright Reuters Limited. All rights reserved
Background: President Pompidou today (Thursday) rejected revaluation of the france as "absurd and harmful", and reiterated his country's belief in fixed parities between international currencies.
The President was speaking at the fifth press conference of his two-year-old presidency, and his first full statement on the monetary crisis. The conference ranged over various international matters, including relations with the People's Republic of Chine.
SYNOPSIS: In Paris, President Pompidou has firmly rejected suggestions that the france should be up-valued against the dollar. He was speaking at the Elysee Palace.....
The President said his government's first reaction in the monetary crisis had been to take the necessary steps to shelter another country from its potentially harmful effects. But France's trade deficit with the United States, West Germany and other industrial nations confirmed its belief that the france was not undervalued, and so France had stated its intention to maintain the franc at its existing official parity.
President Pompidou also discussed the change in international attitudes to the People's Republic of China, and its effect on the power balance.
He said relations between Peking and Moscow were, fortunately, of no concern to France, and France had not tried to influence them. He said it was no surprise to france that others were now beginning to realist what France had publicly recognised for a long time--that China existed, and had 800 million people who obeyed their own government.