• Short Summary

    In Brussels, the European Common Market Ministers have begun a two day meeting (on December 3rd) which is expected to be dominated by the ail situation although this not on the official agenda.

  • Description

    In Brussels, the European Common Market Ministers have begun a two day meeting (on December 3rd) which is expected to be dominated by the ail situation although this not on the official agenda.

    The meeting is the last scheduled session for the Ministers to meet before the E.E.C. summit meeting in Copenhagen in two weeks time.

    The Ministers decided on Monday to postpone for at least six months a proposed ten per cent pooling of their national currency reserves.

    This plan is one of the cornerstones of the proposals for the second stage of E.E.C. progress towards economic and monetary union.

    The plan was put forward by the E.E.C's Executive Commission but there were objections from Germany and Holland. But at the same time German Finance Minister Helmut Schmidt warned that urgent action was necessary to boost the resources of the European Monetary Cooperation Fund -- the E.E.C.'s Embryo Central Bank -- so it could help member states in balance of payments difficulties.

    He said that there was a threat that the oil crisis would trigger international capital flows in 1974 worse than any this year.

    The meeting opened with a discussion of the Common Market's Mediterranean policy and the Ministers decided to set up a special working group of officials to work out procedural proposals concerning new trade pacts which the E.E.C. is negotiating with the Mediterranean countries -- Spain, Israel, Algeria, Tunisia and Morocco.

    These agreements were scheduled to come into effect on January 1.

  • Tags

  • Data

    Film ID:
    VLVADFCIPPOX8V3NNKM7DSJYTNR2Y
    Media URN:
    VLVADFCIPPOX8V3NNKM7DSJYTNR2Y
    Group:
    Reuters - Incuding Visnews
    Archive:
    Reuters
    Issue Date:
    03/12/1973
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:03:00
    Time in/Out:
    /
    Canister:
    N/A

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