As confidence in paper cash dwindles Euro-float against $?
By David Maude
1973David MaudeEconomic crisisItaly and Germany Read the scan at ETOL (PDF) →Read from the scan by machine and not corrected: headlines and words can be misread, and a caption or advert can run into the text. For anything you quote, read the scan.
AT QUEEN secretary Toi strikers • were all workers in he said. 'We Monday to make sure that *Personally, I feel that our own leaders should have organized this strike much better, much more firmly.
'It's been left to us to make the running. My impression is that the union leadership would really like to fade into the background.' Apart from a small number of higher-paid women workers in the sterilization department, Queen Mary's is solidly supporting the strike.
Mrs Maisie Phillips explained just what is meant by 'higher paid' in the hospital service, and why she and a determined from the sterilization department were striking and picketing yesterday morning.
'On our bonus system we can take home just over £20 after stoppages, she said. 'You really have to work for that, though. But we're out on a matter of principle supporting the majority of workers who are much lower paid.
"This kind action won't work on its own. The union leaders have got to call something on a much bigger scale' Widow Mrs Gladys Bright can't afford to strike. As a cleaner, she takes home just £14 a week. But she was out on the picket line yesterday morning nevertheless. 'I'm all for it, she said ot the fight against the pay laWs.
Also picketing Bill Cockburn, linen department worker, who said he 'wouldn't have entertained a union' in his previous job as a motor mechanic.
'This has really turned me against authority', he said of the Tory clampdown on hospital Pia bloody insult. It's like they're saying ust you're nothing, go away.
think if the strength of all the hospitals was used the Tories would have to do something. Of course we're just part of the general picture-with the gasmen, civil servants, Ford's and the rest. If the Tories don't do something for us, they'll have a General Strike on their hands again. SUMMIT talks in Bonn between Tory premier Edward Heath and chancellor Willy Brandt centre on the question of a joint Common Market currency float against the The talks, which began yesterday, are the first Heath has held with an individual EEC leader since Britain's accession at the beginning of the year. Brandt made it clear on Wednesday that he intended money questions should dominate the agenda at the talks.
He told reporters that if Europe could not agree on monetary matters, it would not agree in other fields either. He left no doubt he believes the need for agreement is urgent. Ancillary workers to lobby TUC MARY'S, Roehampton, NUPE branch n Thomas stressed that the hospital looking to the TUC to bring together struggle against the pay laws. leaders must take more positive action', shall be lobbvine the special TUC next They do.
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The pickat Ilno at Queen 1 London.
Meeting in Paris at the height of the dollar crisis last month, the British, French and German finance Ministers decided to organize a joint EEC float against the dollar the next time there was a monetary crisis.
Faced with another very late influx of dollars, Brandt now wants to hold his 'partners' to their pledge. Yesterday morning the central bank in Frankfurt had to buy about $2,500m to prop up the dollar at its internationally agreed 'floor' rate.
The heavy dollar selling is as intense as at the height of last month's crisis. Last month, before accepting the dollar devaluation, the Bundesbank bought in some $6,000m, most of which it still holds.
In Holland the central bank had also to support the dollar against the guilder, at a cost of some $400m. There was heavy selling of dollars in Belgium, and in London the pound OFFICIA STREA Mary's Hoepital, Rochamplon, floated up more than points against the US currency.
A common float of all the EEC countries against the dollar would be a public acknowledgement that there is no longer any stability in paper currency. Not only would it have extremely serious consequences for world trade, it would also further undermine confidence in all forms of paper money.
This process is already well under way: on the London bullion market yesterday gold was being sold in the morning at over $88 an ounce$2 above the previous day's closing price and rising rapidly towards last week's all-time record level.
With dollars flooding into West Germany and threatening to force another mark revaluation--the third in less than 15 months-Brandt will be pulling out all the stops to get the British to co-operate in a joint float against the dollar.
Above left: NUPE secretary at St Mary's, Tom Thomas. Above: Mrs. Maisie Phillips on strike from the sterilization department.