CUT IN INTEREST SOUGHT
CAPITAL BEING CONSUMED GERMANY BECOMING POORER NEGOTIATION IN FEBRUARY £300,000,000 DEBT THEN DUE By Telegraph—Presi Assn.—Copyright. Rec. 10.30 p.m. Berlin, Dec. 22. “Germany is consuming its capital and continually getting poorer,” said President von Hindenburg in propounding a new scheme for a reduction of ■ interest on foreign and private debts from 5 ip li per cent. He suggested negotiations thereon should begin at the expiration Of the standstill agreement in. February, when the fate of £300,000,000 short-term credits would be involved. “Creditors must choose between getting their capital back and receiving interest,” the President said. “If a mutual agreement is impossible Germany may be forced to act alone. In addition to a reduction of interest amortisation Payments should not exceed the. value of our exports surplus. We could dump goods but we want to avoid that in the interests of our creditors and purselves. ’
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Taranaki Daily News, 23 December 1932, Page 5
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148CUT IN INTEREST SOUGHT Taranaki Daily News, 23 December 1932, Page 5
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