§ Colonel Crosthwaite-Eyreasked the Chancellor of the Exchequer what terms have been agreed by His Majesty's Government under Article 3 of the Anglo-Belgian Payments Agreement.
§ Sir S. CrippsIt has been agreed that if one party devalues its currency in terms of the other currency, the former shall compensate the latter in respect of the Central Bank balances, and the revaluation shall not give rise to a gold payment by reference to the limits laid down in Article 2 of the Agreement. The amount of the compensation shall be agreed between the two Central Banks.
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§ Colonel Crosthwaite-Eyreasked the Chancellor of the Exchequer what action has been taken by His Majesty's Government and the Belgian Government to implement Article 6 (i) c, 6 (ii) c and 6 (iii) of the Anglo-Belgian Financial Agreement.
§ Sir S. CrippsThese provisions are under discussion with the Belgian Government, but until the position of our own balance of payments with the Belgian Monetary area is clarified, we feel bound to impose strict limitations on any net accruals of sterling to Belgium from sources outside the sterling area.