HC Deb 05 July 1922 vol 156 cc351-2

asked the Under-Secretary of State for Foreign Affairs if the Reparation Commission at present controls the entire assets of Bulgaria?

Sir JOHN BAIRD (for Mr. Hilton Young)

Under Article 132 of the Treaty of Neuilly, a first charge is imposed on all the assets and revenues of Bulgaria in respect of the cost of reparation and other costs arising under the Treaty, subject to the rights created and securities assigned in. connection with pro-War Bulgarian Government loans (which are maintained in force without any modification), and subject also to such exceptions as the Inter-Allied Commission at Sofia may unanimously approve. The Inter-Allied Commission is empowered to assume actual control and management of Bulgarian revenues only in case of default by Bulgaria, and does not at present exercise such control.