GERMAN DEBT TO BRITAIN
Repayment Offer
(N.Z. Press Association—Copyright) BONN, March 30.
The West German business newspaper “Handelsblatt” on Saturday reported that West Germany had offered to solve her supports costs dispute with Britain by repaying in advance between £60,000,000 and £70.000.000 of her post-war debt to Britain.
The Secretary-General of N.A.T.O. (Mr Paul-Henri Spaak) has proposed a repayment of about £45,000,000, but “Handelsblatt” said Britain had asked for more.
“Handelsblatt” said that West Germany had also offered to increase considerably her arms purchase fund deposited with the Bank of England. The amount outstanding on West Germany’s post-war debt to Britain is £l2O million, £75 million of which has been placed in the Bank of England but remains West German property.
Britain has demanded a cash payment of £5O million towards the upkeep of her troops in West Germany in the coming financial year.
West Germany has refused to make a cash payment, but has declared her readiness to assist Britain by other means in her foreign exchange difficulties.
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Bibliographic details
Press, Volume XCVII, Issue 28550, 1 April 1958, Page 19
Word Count
169GERMAN DEBT TO BRITAIN Press, Volume XCVII, Issue 28550, 1 April 1958, Page 19
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