• Short Summary

    NINE MAJOR ECONOMIC POWERS YESTERDAY (SATURDAY) APPROVED A PLAN FOR A NEW SYSTEM OF INTERNATIONAL RESERVES, A FORM OF PAPER GOLD, BUT FRANCE REFUSED TO SUPPORT IT.

  • Description

    NINE MAJOR ECONOMIC POWERS YESTERDAY (SATURDAY) APPROVED A PLAN FOR A NEW SYSTEM OF INTERNATIONAL RESERVES, A FORM OF PAPER GOLD, BUT FRANCE REFUSED TO SUPPORT IT. MEETING IN STOCKHOLM, SWEDEN, THE GROUP OF TEN DISCUSSED THE CURRENT INTERNATIONAL MONETARY SITUATION AND UNANIMOUSLY EXPRESSED GREAT SATISFACTION WITH ACTION TAKEN BY BRITAIN, DESIGNED TO ACHIEVE A SUBSTANTIAL OVERALL SURPLUS IN THE UNITED KINGDOM BALANCE OF PAYMENTS.

    THE NEW SYSTEM OF SPECIAL DRAWING RIGHTS (SDR) IS INTENDED TO SUPPLEMENT GOLD AND THE EXISTING RESERVE CURRENCIES, THE DOLLAR AND STERLING.

    THE FRENCH FINANCE MINISTER, M. MICHEL DEBRE TOLD HIS COLLEAGUES THAT THE SDR, AS NOW CONCEIVED, SERIOUSLY DIFFERED FROM THE SCHEME PREVIOUSLY AGREED BY THE INTERNATIONAL MONETARY FUND. HE WARNED THE CONFERENCE THAT THE SDR WAS NO LONGER THE SUPPLEMENTARY CREDIT FACILITY FRANCE WOULD HAVE CONSIDERED USEFUL.

    AFTER THE MEETING, THE CHAIRMAN, SWEDISH ECONOMICS MINISTER KRISTER WICKMAN, SPOKE TO NEWSMEN, ABOUT THE DECISION.

  • Tags

  • Data

    Film ID:
    VLVAE25HYPHN2KHYEIM85MXWSGTUM
    Media URN:
    VLVAE25HYPHN2KHYEIM85MXWSGTUM
    Group:
    Reuters - Including Visnews
    Archive:
    Reuters
    Issue Date:
    31/03/1968
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:34:00
    Time in/Out:
    /
    Canister:
    N/A

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