• Short Summary

    The West German Chancellor, Helmut Schmidt, flew into Nice on Thursday (12 February) to begin a two day summit meeting with the French President, Valery Giscard D'Estaing.

  • Description

    The West German Chancellor, Helmut Schmidt, flew into Nice on Thursday (12 February) to begin a two day summit meeting with the French President, Valery Giscard D'Estaing.

    However, the conference between the two leaders was overshadowed by a surge on the exchange markets as speculators bought and sold German and French currency in the hope that the mark and franc will soon be realigned within the joint European float.

    The German mark continued to make solid gains against the French franc on Thursday and the West German and French Central Banks launched a joint intervention strategy to support the weakened franc.

    Despite the massive dealings in both currencies government officials in Germany again stressed that the mark would not be revalued.

    While the mark and franc become the main concern for money speculators throughout the world, the West German Chancellor and President Giscard spent "little time" discussing the monetary problem.

    Official aids to the two leaders said the talks revolved around the plans for the proposed directly elected European Parliament and the future of a united Europe. The economic prospects for such a Europe were also discussed.

    The West German Chancellor is accompanied by half a dozen senior Cabinet Ministers. The delegation still stay in the Riviera village of Saint Paul de Vence.

    SYNOPSIS: French President, Valery Giscard D'Estaing, was at Nice airport to greet the West German Chancellor, Helmut Schmidt on Thursday. The two leaders are at the Riviera resort city for a two day summit meeting. But even s they shook hands and talked informally, the currencies of France and West Germany were the subject of heavy dealings on international exchanges.

    Speculators were dealing in the French franc and West German mark in the hope that both currencies would soon be realigned within the joint European float. In the West German capital of Bonn government spokesmen continued to deny that the mark would be revalued. President Giscard accompanied Herr Schmidt to the villa where the talks are taking place.

    Despite the currency situation both leaders were reported to have spent little time discussing it. The talks are reported to have revolved around the forthcoming directly elected European Parliament.

  • Tags

  • Data

    Film ID:
    VLVA9F3S2VS3XFZLN9RGS2PLHTC0P
    Media URN:
    VLVA9F3S2VS3XFZLN9RGS2PLHTC0P
    Group:
    Reuters - Including Visnews
    Archive:
    Reuters
    Issue Date:
    13/02/1976
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Black & White
    Duration:
    00:01:04:00
    Time in/Out:
    /
    Canister:
    N/A

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