8. The Treasury concluded that Mr Margolis's report would probably have to come to a similar conclusion and therefore
was worth waiting for and examining in more detail. The
clear hint was that if he did not come to this conclusion
they would be very suspicious. If the Margolis report did
show that something was possible, the Treasury thought that the next step was to invite institutions to submit packages
which would be examined by the Hong Kong Government.
M V Stone
16 March 1992
cc: Mr Cox
Miss Williams
YETAEA/3