FRANCE & HOLLAND: "BIG TEN" BANKERS DECIDE ON LOAN FOR BRITAIN IN PARIS; BENELUX FOREIGN MINISTER MEET IN THE HAGUE

Record ID: 565966

  • Title: FRANCE & HOLLAND: "BIG TEN" BANKERS DECIDE ON LOAN FOR BRITAIN IN PARIS; BENELUX FOREIGN MINISTER MEET IN THE HAGUE
  • Date: 29th November 1967
  • Summary: 1. GV CHATEAU DE LA MUETTE 0.05 2. SV GENERAL SECRETARY OF O.C.D.E. ARRIVING 0.07 3. GV JAPANESE DELEGATE ARRIVES 0.13 4. GV MR DENIS RIKET ARRIVES 0.17 5. GV MR TENON ARRIVES 0.23 6. GV MR DAAME, U.S.A. ARRIVES 0.27 7. GV ANOTHER JAPANESE DELEGATE ARRIVES 0.32 8. GV PAN. THE HAGUE 0.42 9. CU MINISTRY SIGN 0.45 10. GV PAN. INT. FROM PRESSMEN TO MINISTERS AROUND TABLE 0.53 11. SV MINISTERS SEATED AT TABLE 1.01 12. SCU DR. LUNS 1.07 13. CU LUNS 1.10 14. CU M. GREGOIRE 1.15 15. CU M. HARMEL 1.20 16. CU M. WEHENKEL 1.28 17. CU M. ELSLANDE 1.33 18. CU M. DE BLOCK 1.36 19. SV MINISTERS SEATED BEHIND TABLE 1.40 Initials DHC/V/MR/SGM Script is copyright Reuters Limited. All rights reserved
  • Embargoed: 14th December 1967 12:00
  • Keywords:
  • Location: THE HAGUE AND PARIS
  • City:
  • Country: Netherlands
  • Reuters ID: LVA627THG56UWFRMPA8KZK9ESVRS
  • Story Text: THE INTERNATIONAL MONETARY FUND HAS APPROVED BRITAIN'S APPLICATION FOR A LOAN 1,400 MILLION DOLLARS. LEADING INTERNATIONAL BANKERS MET IN PARIS TODAY (WEDNESDAY) TO DISCUSS -- AND SUBSEQUENTLY APPROVE -- THE APPLICATION. IN THE HAGUE, MEANWHILE, BENELUX FOREIGN MINISTERS MADE IT CLEAR THAT THEY WOULD PRESS ON WITH ATTEMPTS TO SEE BRITAIN INTO THE COMMON MARKET.

    THE DECISION TO EXTEND BRITAIN'S LOAN WAS ANNOUNCED FROM THE WASHINGTON HEADQUARTERS OF THE IMF. THE BANKERS HAD CARRIED ON DISCUSSIONS OF THE APPLICATION IN CLOSED SESSION IN PARIS. THEY WERE MEETING WITHIN THE FRAMEWORK OF "WORKING PARTY THREE" OF THE 21-NATION ORGANISATION OF ECONOMIC CO-OPERATION AND DEVELOPMENT, AND AS REPRESENTATIVES OF THE "GROUP OF TEN" -- THE RICHEST WESTERN NATIONS PLUS JAPAN.

    THE DECISION WAS A GESTURE OF FAITH IN BRITAIN'S DEVALUATION PROGRAMME -- THE BANKERS HAD TO DECIDE WHETHER THE DEVALUATION MEASURES WERE ADEQUATE TO IMPROVE BRITAIN'S BALANCE OF PAYMENTS.

    IN THE THREE-AND-A-HALF HOUR MEETING OF THE FOREIGN MINISTERS OF BELGIUM, THE NETHERLANDS AND LUXEMBOURG, IN THE HAGUE, IT WAS DECIDED TO STEP UP ATTEMPTS TO GET TALKS STARTED ON BRITAIN'S APPLICATION TO JOIN THE ECONOMIC COMMUNITY.

    AT THE MEETING WERE DUTCH FOREIGN MINISTER DR JOSEPH LUNS, M. PIERRE HARMEL OF BELGIUM, AND M. PIERRE GREGOIRE OF LUXEMBOURG.

    DR. LUNS, AS SPOKESMAN, SAID THEY HAD AGREED THAT PRESIDENT DE GAULLE'S RE???NT PRESS CONFERENCE REMARKS -- IN WHICH HE VIRTUALLY EXCLUDED BRITISH ENTRY -- IN NO WAY CONSTITUTED A FORM OF NEGOTIATION. N THAT CONTEXT THE PRESS CONFERENCE HAD NO VALIDITY, HE SAID.
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