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Austrian Loan (Italian Liability)

Volume 480: debated on Monday 13 November 1950

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asked the Secretary of State for Foreign Affairs whether he has any statement to make about the refusal of the Italian Government to make payments on account of the Capital Fund of the Austrian 4½per cent. Guaranteed Loan and their declaration that they will not make further interest payments, bearing in mind that the guaranteeing Powers, including Italy, have deposited securities of their own Governments, covering such guarantees, with the National Bank of Switzerland.

When this matter was last brought to the attention of the House on 10th July by the hon. Member for Twickenham (Mr. Keeling), I said that it was being discussed in the Anglo-Italian Economic Committee which was then in session. At that meeting the Italian representative undertook to bring the views of His Majesty's Government to the attention of His Government for further consideration. The Committee will shortly meet again, and I hope soon to be in a position to report further to the House. We have in the meantime not remained inactive.