§ Sir W. Teelingasked the Secretary of State for Foreign Affairs whether the Council for Foreign Bondholders have been included in talks with Rumania on her debt defaults; and what oil interests have also been included.
§ Mr. William RodgersThe Council of Foreign Bondholders and representatives of the oil interests took part.
§ Sir W. Teelingasked the Secretary of State for Foreign Affairs (1) why the negotiations to settle the Rumanian bonded debts opened in 1966 were suspended; and what steps Her Majesty's Government has taken to retaliate for Rumania's default;
(2) what steps he is taking to continue discussions with the Rumanian Government about the Rumanian bonded debts to this country;
(3) when he or his representatives last discussed the Rumanian bonded debts with the Rumanian Government representatives, and where.
§ Mr. William RodgersThe last round of negotiations was held in Rumania at the end of 1966. The talks were adjourned to enable both sides to consider the position reached. It was made clear then that the time and place for a resumption would be settled through diplomatic channels.
§ Sir W. Teelingasked the Secretary of State for Foreign Affairs when was the last trade agreement made with Rumania which included an agreement to reopen debt negotiation talks in 1966; and when a fresh trade agreement will be due to be negotiated.
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§ Mr. William RodgersIt was agreed under the terms of the Financial Agreement of 1960 that the two Governments should enter into negotiations in 1966 for the settlement of outstanding claims. Trade with Rumania is conducted under a five-year arrangement which is due for renewal next year.
§ Sir W. Teelingasked the Secretary of State for Foreign Affairs how much money, including accrued interest, is owed by Rumania to investors in the United Kingdom; and how much of this is for oil claims.
§ Mr. William RodgersThe details of the outstanding claims and debts, of which the oil claims form the larger part, are confidential.
§ Sir W. Teelingasked the Secretary of State for Foreign Affairs when he proposes to visit Rumania; and whether he will take up the question of Rumania paying her bonded debts to this country.
§ Mr. William RodgersI have nothing to add to my right hon. Friend's reply to my hon. Friend the Member for Bebington (Mr. Brooks) on 18th July and my earlier answer to the hon. Gentleman today.—[Vol. 750, c.158–9.]