OO HONG KONG DESKBY 260100Z
GRS 113
SECRET
SECRET
21
нак
...HAK 040/3
20111
PA Ar
See 22
DESKBY 260100Z
FM FCO 251415Z AUG 82
TO IMMEDIATE HONG KONG
TELEGRAM NUMBER 663 OF 25 AUGUST
PERSONAL FOR GOVERNOR
1. YOUR TELNO 646. BANK OF ENGLAND HAVE SUGGESTED DELETING
LAST SENTENCE OF PARAGRAPH ONE, AND REPLACING WITH:
'IT HAS TO BE SAID HOWEVER THAT IN THE EVENT OF A MAJOR
-
FINANCIAL CRISIS WHICH COULD NOT BE CONTAINED IN THE MANNER SET
OUT IN PARAGRAPHS 6 8 BELOW, THERE IS NO DOUBT THAT THE
OUTSIDE WORLD WOULD REGARD HMG AS ULTIMATELY RESPONSIBLE. THIS
IS A MATTER OF CONSIDERABLE AWKWARDNESS IN VIEW OF THE FACT
THAT THE UK AUTHORITIES NEITHER CONTROL NOR SUPERVISE HONG KONG'S
FINANCIAL SYSTEM'.
2.
GRATEFUL TO KNOW IF THIS IS ACCEPTABLE TO YOU DESKBY 260900Z.
PYM
NNNN
DISTRIBUTION
MINIMAL
HKGD
1
SECRET