§ Mr. Hall-Caineasked the Prime Minister whether he is aware of the default in the payment of interest on the Greek Refugee Loan; whether he will state the reasons for this default; and whether, in view of the fact that investors were induced by the strong recommendations of 1198W the League of Nations to invest in the loan, the Government will make representations to the Greek Government on the subject?
§ Mr. ButlerAs from the 1st April, 1932, the Greek Government have suspended the full service of their external debt, including the Greek Refugee Loan, owing to budgetary and economic difficulties. Up to 31st March, 1937, reduced payments were made in accordance with agreements reached with the representatives of the bondholders. In respect of the period since 1st April, 1937, no agreement has, up to the present, been reached. Negotiations on this score are a matter primarily for the Greek Government and representatives of the bondholders. Both the Greek Government and the bondholders are aware of the importance which His Majesty's Government attach to a satisfactory settlement.