'Twixt Cup And Lip
(Rec. 1 p.m. 8.0. W.) RUGBY, Dec. 16. Captured Italian documents reveal that the financial plans of the Italian High Command, when Egypt was captured. provided for the establishment of a "Mediterranean Credit Institute for Egypt” with power to issue notes in Egyptian pounds for the purpose of providing advances to military paymasters with the army operating in Egypt. Acceptance of these notes in occupied territory was to be declared compulsory and without limit. This would have provided the enemy, with unlimited purchasing power to enable him to acquire what was wanted on the local market at no greater cost than the printing of notes. British and Allied forces in Egypt pay for goods and services in local currency, acquired at par against sterling.
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Northern Advocate, 17 December 1942, Page 5
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128'Twixt Cup And Lip Northern Advocate, 17 December 1942, Page 5
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