GERMANY'S DEBTS

Rotorua Morning Post, Volume 1, Issue 85, 1 December 1931, Page 5

GERMANY'S DEBTS

(Press Assn.-

PROBLEM AFFECTSs STABILITY OF EUROPEAN FINANCES FRENCH DECLARATION

— By Telegraph — Copyright)

LONDON, Sunday. The declaration of M. Laval, Premier of France, that France would not partieipate in an international confer'ence to discuss Germany's private debts though she would not be able to prevent the mention of them at a reparations conf erence has aroused renewed interest in the probleni of Germany's £350,000,000 of frozen short-term debts. ; German sources suggest that as the Hoover holiday is not likely to be extended the question must be discussed some time in January or a moratorium is inevitable. Though Whitehall is officially silent, there is recognition of the facf that the problem affeets the stability of the whole of Europe and there must be an early general conference as sooii as the Basle bankers complete their report. The awkward question, however, is as to who is to take the , initiative. A bankers' clearing house statement shows that f acilities held in London on July 31 at th disposal of Ger- | : many under the "standstill" agreement were £64,000,000, of which £50,000,000 was being used by October 31. The agreement runs to February 29 next, and the- whole question is under review.