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Budapest (British Loans)

Volume 155: debated on Monday 12 June 1922

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asked the President of the Board of Trade whether he will ascertain from the British representative in Budapest whether delegates are coming to London to negotiate a settlement of the pre-War British loans to the Budapest municipality; and, if such is a fact, will he intimate to the Budapest authorities that the British Government will regard with disfavour any terms of settlement which do not provide for the maintenance in cash of the sinking fund contracts under which the Budapest municipality obtained its pre-War loans from the British public?

With regard to the first part of the question, it has been ascertained that delegates of the Municipality of Budapest are now in Paris, and are expected to visit London shortly, to discuss a settlement of the pre-War British loans to Budapest. With regard to the second part, this is a matter for arrangement between the parties concerned.