GERMANY’S DEBTS

Feilding Star, Volume 8, Issue 2585, 1 December 1931, Page 6

GERMANY’S DEBTS

Effect on Europe I’BOI’OSED CONFEKKNCE FKAXCE NOT FAUTICIPATJNG WITH OTHJJIi NATIONS (Alsi. and N.Z. Cable) London. Nov. 21). The statement, by Premier Laval that France will not participate in an International Conference to discuss Germany’s private debts, though unable to prevent the mention thereof at the Eeperations’ Conference, has arouse I renewed interest in the problem of Germany’s frozen £350,000,000 short-term debts. German sources suggest that as the Hoover holiday is not likely to be extended the problem must be discussed some time in January or a moratorium will be inevitable. Though Whitehall officially is silent, there is recognition that the problem affects the stability of the whole of Europe, and that there must he an early general conference as soon as the Basle hankers complete their report. But the awkward question is: Who will take the initiative? Securities held in London on July Ml at the disposal of Germany under the standstill agreement totalled £(34.000.000. whereof £55.000.000 were being used on October Ml.