SINCE the monetary crisis of last fall, the main prop under the French franc has been the stubborn pride of Charles de Gaulle. Now, without his formidable non, talk of devaluation of the Continent's weakest currency has assumed a new tone of inevitability. Even the West Germans seem ready to assist in a broader change of currencies by increasing the value of the robust mark. The only real question in France is when and how much.
After De Gaulle's departure, speculators rushed to buy marks, knocking the franc, the dollar and the pound to the lower limits set by the International Monetary...