BELGIUM: Crash Went the Franc

While the French franc trembles and fluctuates with every breath of political rumor, the Belgian franc has been stable at 4.54 cents since October of last year. Last week it crashed inexplicably to 4.01. Fiscal experts croaked that this was the most serious break in a European currency since the Dawes plan stabilized the German mark. At Brussels, Finance Minister Janssen was flayed by the Opposition for having allegedly withdrawn in part the support of the Government in "pegging" the franc. While the true cause of the break remained obscure, it was...

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