FRENCH POLICY

Taranaki Daily News, 24 May 1932, Page 3

FRENCH POLICY

POLITICAL POWER OVER EUROPE.

A Frenchman’s view of the part played by France in the world’s economic crisis is given in “Behind the Scenes of International Finance” by Paul Einzig. It is M.. Einzig’s opinion, says “Public Opinion,” that the present position is the result of financial warfare conducted by France in order to acquire political power over Europe, and those who are interested in the inner side of financial power and political affairs will find in this book much food tor thought. In a striking passage M. Einzig sets out the credit and debit results of France’s policy. He writes:— THE CREDIT SIDE. ' (1) Reduced Germany to a state where her economic stability -depends upon French goodwill. (2) Frustrated the Austro-German Customs Union scheme. ,

(3) Obtained full control of political developments in the Succession States of the Austro-Hungarian mon(4) Politically isolated Italy ’by winning over her allies. (5) Reduced Great Britain to a state in which she is unable to grant any assistance to other countries unless France permits. (6) Won from the United State# the privileges of taking the initiative in any action with a view to solving the problem of war debts and reparations. (7) Acquired a monopolistic position in the sphere of international finance as the only potential source of assistance.

(8) Become for the time being the principal international financial centre.

THE DEBIT SIDE.

(1) France has ruined her chances of ever deceiving any substantial amount of reparations, (2) The French nation is bound to suffer through the repercussions of the world crisis to an increasing extent.

(3) She is bound to suffer losses, sooner or later, on the political loans granted to the countries in her sphere of political interest. (4) She has lost the sympathy of Great Britain and other nations which would have safeguarded her against any possible German aggression.