DECRET
get out of sterling altogether, this will give them problems.
They will take it amiss if we now tell them too brusquely
that they must maintain their MSP in accordance with their
Agreement.
4. In this situation we have told the Treasury and the Bank
that we must reply to Hong Kong as helpfully as we can in
both substance and tone. The attached draft telegram has
accordingly been agreed by the Treasury and the Bank of England.
Mr Holland and FRD also agree. I understand the US has ruled
that the Secretary of State should be consulted.
telegram to Hong Kong is submitted accordingly.
The draft
10 July 1973
Gerver
Copy to:
V Mr Royle
PS to PUS
Mr Holland
Mr Marshall
Miss Pestell/Mr Lewty FRD
A C Stuart
Hong Kong & Indian Ocean Department
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