ECONOMIC DEBACLE.

Poverty Bay Herald, Volume XLVIII, Issue 15873, 12 July 1922, Page 5

ECONOMIC DEBACLE.

GERMANY AND AUSTRIA

DEVELOPMENTS EXPECTED IN REGARD TO REPARATIONS.

FINANCIAL COLLAPSE OF AUSTRIA PREDICTED.

rEtcc Tel Copyrfh'M—United Press Assn (Australian and N.Z. Cable Association. LONDON, July 10.

The Prime Minister, in the House of Gammons, said it was undesirable to deal with reparations. In answer to Parliamentary questions, he said there might be developments during the nexl few days, which would render a statement desirable. Up to the present, the Germans had not even paid instalment-. which would cover the cost of the adnal damage to Belgium and France. LONDON, July 11.

Tho Westminster Gazette stales that the British Government anticipates mi early and complete financial collapse in Austria, and fears that if Germany increases her taxation and ceases to print paper money, which is the only way to stabilise currency, the present Government will fall and will be replaced by an autocratic administration.

FRANCE VIEWS POSITION SERIOUSLY.

GERMANY MUST HAVE AN ENTER

NAL LOAN

(Australian and N.Z Cable Association.)

(Received July 12, 8.45 a.m.) * PARIS, July 11

Th<3 Petit Parisien points out that in a few weeks the present financial depression might render moratoriums insufficient to" check the collapse of the mark and prevent a German economic debacle. The paper quotes M. Poincare's opinion that sooner or later Geimany must have an external loan.