European Common market Fiance Ministers met in Rome on Tuesday (30 November) to attempt to work out a common position on the world monetary crisis precipitated by President Nixon's moves to protect the U.S. dollar. In the face of what appeared to be a tough U.S. policy, the ministers were believed to be discussing proposals put forward by the United States on Monday (29 November). Agreement was however reached on the need to press U.S. Treasury Secretary, John Conally, for a clearer indication as to whether or not his country would be prepared to devalue the dollar, in terms of gold as part of a world monetary realignment scheme.

The Finance Ministers of the ten leading industrialised nations of the non-Communist world were joined in the talks by Britain's Chancellor of the Exchequer Mr. Anthony Barber, and observers from Canada and Japan.

SYNOPSIS: The palazzo Corsini in Rome, where European Common Market Fiance Ministers met on Tuesday to attempt to work out a common position on the world monetary crisis, precipitated by President Nixon's recent moves to protect the U.S. dollar. The meeting was attended by observers from Canada and Japan.

Mr. Anthony Barber, Britain's Chancellor of the Exchequer, was also present.

The Japanese observer arrives. Japan has felt the effects of U.S. trade restrictions more than most countries and her textile industry in particular has been hit badly. Common Market countries are trying to prevent a trade war with the United States which might produce similar results.

In the face of what appeared to be a tough U.S. policy, the ministers discussed proposals put forward the previous day by United States Treasury Secretary John Connally.

The meeting agreed to press Mr. Connally for a clearer indication as to whether the dollar might be devalued, in terms of gold, as part of a world monetary realignment.