INTEREST CUT
NEW GERMAN SCHEME FOREIGN AND PRIVATE DEBTS CREDITORS’ CHOICE (United Press Assn.—Telegraph Copyright.) (Rec. 10.30 p.m.) Berlin, December 22. “Germany is consuming her capital and continually getting poorer,” said Herr Hugenberg in proposing a new scheme for a reduction of interest on foreign and private debts from 5 per cent .to 1| per cent. He suggested that negotiations on the subject should begin at the expiration of the standstill agreement in February, when the fate of £300,000,000 worth of short term credits was involved. “Creditors must choose between getting their capital back and receiving interest,” he said. “If a mutual agreement is impossible Germany may be forced to act alone, In addition to a reduction of interest, amortization payments should not exceed the value of our export surplus. We could dump goods, but we want to avoid that in the interests of our creditors and ourselves.”
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Bibliographic details
Southland Times, Issue 21896, 23 December 1932, Page 5
Word Count
148INTEREST CUT Southland Times, Issue 21896, 23 December 1932, Page 5
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