• Short Summary

    A prominent Swiss banker,in an address to the National Press Club luncheon in Washington on Wednesday (5 November), called for a new approach to the world's inflation problems.

  • Description

    A prominent Swiss banker,in an address to the National Press Club luncheon in Washington on Wednesday (5 November), called for a new approach to the world's inflation problems.

    Mr. F. W. Schulthess, the Chairman of Switzerland's largest bank, the Swiss Credit Bank, questioned the validity of traditional methods of fighting inflation. He said that a situation in which there was both inflation and unemployment, could destroy the democratic institutions of the Western world.

    Mr. Schulthess, who served as President of the International Monetary Conference in 1972, pointed out that "slumpflation" - unemployment and inflation occurring at the same time - had already hit the United Kingdom and Italy. He said there was a real danger that it could effect other nations too.

  • Tags

  • Data

    Film ID:
    VLVAC4AKL9AXBQRY9ZAAXKU8J6R5O
    Media URN:
    VLVAC4AKL9AXBQRY9ZAAXKU8J6R5O
    Group:
    Reuters - Source to be Verified
    Archive:
    Reuters
    Issue Date:
    07/11/1974
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:02:00:00
    Time in/Out:
    /
    Canister:
    N/A

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