MP 9/393/1
CONFIDENTIAL AND PERSONAL
Sir M MacLehose KCMG MBE
Governor and Commander-in-Chief HONG KONG
30 April 1973
29)
STERLING AGREEMENT
1.
2.
I was sorry that paragraph 2 of our telegram No 412 about
discussions on the future of the sterling agreements could do no
more than re-state the position as it was in telegram No 301.
I am writing now merely to confirm what is probably
obvious to you, namely that this very brief telegram reflects
the fact that we are now in an exceedingly complex situation with
work going on in the Luropean framework, the outcome of which is
still very uncertain. Until the situation is clearer, we simply
cannot initiate any meaningful discussions with Hong Kong or the
other sterling agreement holders and we cannot yet say how long
it will be before it is clear.
3.
we understand your concern about timing. I can only say
that our own intention is that talks should be held just as soon
as it is possible to do so.
cc
HBC Keeble
CW Fogarty Esq CB
HM Treasury.
RFenton Esq Bank of England.
Silent copies to: Mr Holland
Sent
✓Mr Stuart (HKIOD)3 Ar Goodfellow & P/A
27
CONFIDENTIAL AND PERSONAL