• Short Summary

    Common Market Finance Ministers, meeting tonight (13 September) in Brussels, ended an 11-hour meeting with full agreement on a package of measures to reform the international monetary system before the meeting in London on Wednesday (15 September) in London of the group of 10 Western industrialised nations.

  • Description

    Common Market Finance Ministers, meeting tonight (13 September) in Brussels, ended an 11-hour meeting with full agreement on a package of measures to reform the international monetary system before the meeting in London on Wednesday (15 September) in London of the group of 10 Western industrialised nations.

    Principle points in the accord are a devaluation of the dollar as past of a realignment of major currencies, a "moderate" enlargement of the margins in which currencies fluctuate against each other, and the extension of the role of jointly created and managed reserve elements (such as special drawing rates and a corresponding rundown of the dollar's reserve function.)
    This film, shot by Visnews cameraman Maurice De Witte, shows the six Common Market Ministers at the beginning of today's meeting.

    SYNOPSIS: Six Common Market Ministers meeting in Brussels on Monday agreed on a common policy to be presented to the meeting of the western industrialised nations in London on Wednesday. The Ministers reached accord on the essentials of a world monetary reform that would unseat the dollar from its present key role.

    The Principle points the Ministers hammered out at their 11-hour session on Monday were: a devaluation of the dollar as part of a realignment of major currencies, a "moderate" enlargement of the margin in which currencies fluctuate against each other, and the extension of the role of jointly created and managed reserve elements such as special drawing rights, and a corresponding rundown of the dollar's reserve function.

    Informed sources said that West German Economics Minister Karl Schiller had dropped earlier objections to a specific mention of the dollar as part of an international parity realignment.

  • Tags

  • Data

    Film ID:
    VLVAARZ40RZBG3KPOAAI0FN6ZY26E
    Media URN:
    VLVAARZ40RZBG3KPOAAI0FN6ZY26E
    Group:
    Reuters - Incuding Visnews
    Archive:
    Reuters
    Issue Date:
    13/09/1971
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:04:00
    Time in/Out:
    /
    Canister:
    N/A

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