BRITAIN AND AUSTRIA
INTERNATIONAL LOAN
GUARANTEE OF; SHARE
LONDON, Bth' February. _In the House of Commons the Financial Secretary to the Treasury, Major L. Hore-Belisha, moved the Austrian Loan Guarantee Bill, by which Britain becomes responsible for £4,000,000, being_ her share of the international loan in return for which Austria has undertaken to abolish progressively her exchange barriers and balance her Budget. These obligations are being carried but. Members attacked the Bill on the
ground that it made it possible for Austria to. repay her indebtedness to the Bank of England at the expense of the British taxpayer, ■: and was throwing good money after bad trying to savo Austria from bankruptcy when she was doomed to disaster. * Sir John Simon said that while the British Government objected to guaranteeing loans to other States in Central Europe there were special reasons why financial disaster to Austria would have a greater effect on the credit of Europe than the collapse of adjoining States. The Bill was read a second time without division. •
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Bibliographic details
Evening Post, Volume CXV, Issue 33, 9 February 1933, Page 11
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170BRITAIN AND AUSTRIA Evening Post, Volume CXV, Issue 33, 9 February 1933, Page 11
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