France: Indispensable Measures

New tremors shook world, money markets last week, with a flight from the French franc causing the greatest alarm. Forced to perform a major rescue job, the French government announced a series of tight credit restrictions designed to ease the pressures on the country's currency. That done,

President Charles de Gaulle went to the trouble of personally denying rumors that the franc was about to be devalued. Such a move, the General told his Cabinet, "would be the worst possible absurdity."

Absurd or not, the possibility of the franc's devaluation has flared intermittently ever since last spring's general strike. That...

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