NO DEFAULT
GERMANY’S PRIVATE DEBTS. INTEREST RATES TOO HIGH. (United Press Assn.—Telegraph Copyright.) (Rec. 7.45 p.m.) Basle, April 10. Dr. Schacht, president of the Reichsbank, at a meeting of the Bank of International Settlements denied that Germany had any intention of defaulting in the payment of interest on private debts, but he argued that the rates were too high and ought to be reduced in the interests of the creditors themselves. A meeting of creditors followed, at which an agreement was reached regarding the policy to be adopted in the coming negotiations in Berlin. Dr Schacht later told German Press representatives that under the present conditions a complete moratorium seemed unavoidable.
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Bibliographic details
Southland Times, Issue 22296, 11 April 1934, Page 7
Word Count
111NO DEFAULT Southland Times, Issue 22296, 11 April 1934, Page 7
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