STERLING SUPPORT
France Not Taking Part (N.Z.P.A.-Reuter —Copyright) ROTTERDAM, Sept II France has declined appeals for Its immediate participation in the new s2ooom stand-by credit for sterling but, under strong pressure from its five Common Market partners, has left the way open for a future contribution. This has emerged from the release of an official communique after a two-day meeting of the finance ministers and central bankers of the six E.E.C. memberstates, which was devoted to international monetary problems and the financing of the Community's agricultural policy.
The . French Minister of Finance (Mr Francois Ortoli) told his colleagues that the Government did not exclude French participation in the Basle agreement in the future, and he indicated that France would participate again in the General Agreement to Borrow, which comes up for renewal next month.
France withdrew late last year from the G.A.8., which provides international credit facilities, established by the world’s 10 most industrialised nations, to help countries in balance-of-payments difficulties.
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Press, Volume CVIII, Issue 31782, 12 September 1968, Page 15
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161STERLING SUPPORT Press, Volume CVIII, Issue 31782, 12 September 1968, Page 15
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