§ 76. Mr. MABANEasked the Chancellor of the Exchequer whether it is proposed to take any steps to ratify the Lausanne Agreement on War Debts; and, if not, whether he can say how the matter of reparations payment now stands, in view Of the fact that, in default of ratification of the Lausanne Convention, the Young Plan still holds the field?
§ Mr. COOPERThe question of the ratification of the Lausanne Agreement is bound up with the problem of Inter-Allied War Debts as a whole and His Majesty's Government do not consider that it would be desirable to take any action in the matter at present. The situation is meanwhile governed, not by the Young Plan, but by the agreement of 9th July, 1932, entitled "Transitional Measures relating to Germany" (see Command Paper 4126, the "Final Act of the Lausanne Conference," pages 10 and 11). Under this agreement payments in respect of reparations and War Debts are suspended until the Lausanne Agreement comes into force, or failing that, until any one of the Governments concerned notifies that it has decided not to ratify. No such notification having been received, these "Transitional Measures" remain in force.
§ Mr. MABANEDo I understand that none of the parties to the Lausanne Agreement have yet taken steps to ratify, and that none has given notice that they do not propose to ratify it?
§ Mr. COOPERI think that that is the case.