4. ANOTHER HIGHLY PLACED FINANCIAL EXPERT IS QUOTED AS SAYING
THAT THE EXTENSION CAN ONLY MEAN THAT UK HAS PRESSED PANIC BUTTON.
THEY ARE TRYING TO PAPER UP A SERIOUS ECONOMIC SITUATION AND SEEM
TO EXPECT HONG KONG TO PROP UP A SEEMINGLY TOTTERING STRUCTURE'.
5.
ARTICLE WHICH POINTS OUT THAT RESERVES REPRESENT EARNINGS
OF THE PEOPLE WHICH ARE IN DANGER OF BEING STRIPPED OF ANY
PROTECTION SAYS THAT 'POLITICAL IMPLICATIONS OF THIS PARTICULAR
HOT POTATO WILL REACH THE DOLLAR BILLS IN THE POCKET OF OUR
4.5 MILLION PEOPLE'. IT CALLS FOR A COMPROMISE. THE FIRST ELEMENT
OF WHICH SHOULD BE DISCUSSION THROUGH A VISIT OF A HIGHLY PLACED
UK ECONOMIC OFFICIAL TO HONG KONG AND CONCLUDES THAT UK GOVERNMENT
WILL SURELY ACCEPT THAT THEY 'CANNOT SUSTAIN THEIR MONETARY PARITY
ON THE CHEAP'
:
6.
HONG KONG STANDARD ALSO REFERS TO DISSATISFACTIO N IN MONETARY
.
SURPLUS.
7.
HADDON-CAVE IN PRESS CONFERENCE ON RETURN FROM LONDON LAST
NIGHT SAID 'THERE IS NO EVIDENCE FOR SUPPOSING THAT THIS IS A FAIT
ACCOMPLI OR AN IMPOSITION. WE HAVE NOT REACHED A BREAKDOWN IN
t
i THE DIALOGUE, IT HAS ONLY JUST STARTED'. COMMENTING ON REPORTS
FROM LONDON THAT EXTENSION SEEM TO MEET MOST OF HONG KONG 'S
DEMANDS, HE SAID IT IS NOT FOR ANYONE IN BRITAIN TO CLAIM THAT
OUR DEMANDS HAVE BEEN MET. IT IS FOR THE HONG KONG GOVERNMENT TO
DECIDE IF THE PROPOSED TERMS OF AGREEMENT ARE SATISFACTORY TO US.
-2-
/ BY SATISFACTORY I MEAN
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