§ Sir C. Mott-Radclyffe
asked the Secretary of State for Foreign Affairs what progress has been made in resolving financial questions outstanding with the Greek Government.
Her Majesty's Government have learned with satisfaction of the conclusion of an agreement between the Greek Government and the Council of Foreign Bondholders on the terms of an offer to be made by the Greek Government to holders of their sterling bonded debt, details of which are, I understand, to be published tomorrow.
The settlement of this long-standing problem opens the way to the consideration of other financial questions between Greece and this country. Her Majesty's Government have now informed the Greek Government of their intention to participate in the North Atlantic Treaty Organisation scheme for defence aid for 266W Greece and in the work of the Organisation for Economic Co-operation and Development Consortium which was set up in July, 1962, to assist Greece's economic development efforts. The amount and form of our defence aid through the North Atlantic Treaty Organisation and our participation in the Consortium will be the subject of early discussions between Her Majesty's Government and the Greek Government. Our economic assistance to Greece will be determined within the framework of the Organisation for Economic Cooperation and Development Consortium.