• Short Summary

    The Finance Ministers of the Common Market were reported to be virtually agreed on postponing any final decisions on the current monetary crisis until next weekend, after four hours of discussions in Brussels on Sunday. (March 4).

  • Description

    The Finance Ministers of the Common Market were reported to be virtually agreed on postponing any final decisions on the current monetary crisis until next weekend, after four hours of discussions in Brussels on Sunday. (March 4).

    The crisis forced Western European Central Banks to buy 4,000 million dollars (GBP 1,520 million sterling) in one day before markets were closed.

    The decision to postpone the crucial decisions was said to be a logical one. Most countries were agreed on the idea of a joint float -- but it wold take time for the details to be worked out.

    At the same time not all countries were convinced that a collective float from all European Economic Community currencies against the dollar was the best way out for Community. The next Ministerial meeting will probably be held next Sunday (March 11). Meanwhile Foreign Exchange markets will remain closed all this week.

    The postponement will give a respite to British Chancellor of the Exchequer, Anthony Barber. He ill now be able to concentrate on his Budget statement to be given on Tuesday.

  • Tags

  • Data

    Film ID:
    VLVABW0K7PD01XOGOQT9AZ9PM3T0U
    Media URN:
    VLVABW0K7PD01XOGOQT9AZ9PM3T0U
    Group:
    Reuters - Incuding Visnews
    Archive:
    Reuters
    Issue Date:
    04/03/1973
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:00:58:00
    Time in/Out:
    /
    Canister:
    N/A

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