• Short Summary

    The Common Market Commission meeting in Brussels on Sunday (March 11), proposed to jointly float stronger EEC and fringe-county currencies against the dollar with the aim of consolidating a Community position for Friday's (March 16) continued Paris monetary negotiations between the Common Market, the United States, Japan, Canada, Sweden and Switzerland.

  • Description

    The Common Market Commission meeting in Brussels on Sunday (March 11), proposed to jointly float stronger EEC and fringe-county currencies against the dollar with the aim of consolidating a Community position for Friday's (March 16) continued Paris monetary negotiations between the Common Market, the United States, Japan, Canada, Sweden and Switzerland.

    The proposal, if adopted, would exclude British sterling and the Italian lira -- leaving them to come into the scheme later when they were stronger. Both these currencies are already floating against their Community partners and the dollar.

    The Paris negotiations, which began with a procedural meeting last Friday (March 9), is to formulate currency plans to avoid future crises like the latest one which has kept suspended official foreign exchange trading for over a week.

    Sunday's meeting also proposed that the plan include other European countries that would like to participate -- like Switzerland, Sweden, Austria and Norway.

    Other measures in the proposal included a joint pool of 10,000-million 'units of account' -- about 12,000-million U.S. dollars -- to support the joint float.

  • Tags

  • Data

    Film ID:
    VLVAD7IJ4I4FSIO2179FMV0NHENZD
    Media URN:
    VLVAD7IJ4I4FSIO2179FMV0NHENZD
    Group:
    Reuters - Incuding Visnews
    Archive:
    Reuters
    Issue Date:
    11/03/1973
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Black & White
    Duration:
    00:00:56:00
    Time in/Out:
    /
    Canister:
    N/A

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