PLANS TO MEET FRENCH CRISIS

Press, Volume LXXXVIII, Issue 26672, 5 March 1952, Page 7

PLANS TO MEET FRENCH CRISIS

Attempt To Form Government fN.Z. Press Association— Copyright) (Rec 11 30 p.m.) PARIS, March 4 Mr Antoine Pinay, the man who will be called on to form a new Government, will to-day meet p“liaport eadeFS ‘° fiaUge ‘ he extent 01 <M r He said that his plans for overcoming the nation’s present economic crisis were at present only in the draft stage!

appeal to “save tlxw; “Xols lndus,rles ’■"< «rvi«a; and possible pri«

Parliamentary observers consider that Mr Pinay has only LdTews a a n b C o e ut° f FSn^h n fl * Workab, « majority unless further bad news about French finances provokes a radical change in the attitude of the political parties. 8

He is expected to give his final reply to the French President (Mr Auriol) to-day. he fails to form a Government ft is believed that Mr Pierre MedesFrance, a former Radical Finance Minister and a supporter of the British type of austerity programme, may be a ** * rv and form a Government. . Mr Pinay, who is the outgoing Min- !^ er r» o f .Transport, said after seeing the President: “My first reaction was to refuse, but. in the face of the President s insistence and the gravity of the situation, I agreed to try to form a new Cabinet." He said he would start consultations immediately. Mr Pinay, who is in favour of cuts in nationalised industry, has good l (a 2 dln s with the Radicals, the Left Radicals and the Catholie Party, as well as his own party. He is the third r Auriol has approached since Mr Edgar Faure’s Government fell on ° 4 n Bud Set issue of in. creased taxation. The Cabinet crisis caused the dollar to soar to its highest value in three years" on the Paris black market in foreign currencies to-day. It touched 48b francs against 483 on Friday.