TNAG-1270-FCO40-1620-Financial-policy-in-Hong-Kong-1983 — Page 170

20

OO HONG KONG

HKK

10017

SECDED R REGISTRY NO. 51

20 OCT 1983

PA

STRY

A lon Taken

SECRET

One Copy only

GRS 210

SECRET

FM FCO 29180OZ SEP 83

ΤΟ IMMEDIATE HONG KONG

TELEGRAM NUMBER 989 OF 29 SEPTEMBER

21564 2

See 30

FOLLOWING PERSONAL FOR GOVERNOR FROM GIFFARD

YOUR TELNO 1436: FINANCIAL SITUATION

1. I HAVE DISCUSSED BREMRIDGE'S PERSONAL TELEGRAMS TO

CLIFT WITH MCMAHON AT THE BANK OF ENGLAND. THE BANK ARE

OF COURSE SYMPATHETIC. BUT THEY BELIEVE THAT AN

ECONOMIC EXPERT WHO WAS

NOT PERSONALLY FAMILIAR WITH

HONG KONG MIGHT FIND IT

TECHNICAL ADVICE IN THE PRESENT FLUID SITUATION.

HARD TO OFFER CONCLUSIVE

2. FURTHERMORE THE SECRETARY OF STATE, WHOM WE SHALL

HOPE TO CONSULT ON HIS RETURN TO LONDON TOMORROW, WILL

WISH TO DISCUSS THE WIDER SITUATION INCLUDING THE

POINTS COVERED IN FCO TELNO 979 AND YOUR TELNO 1425,

WITH HIS COLLEAGUES, IN ADVANCE OF YOUR OWN VISIT WITH

EXCO MEMBERS LATER NEXT WEEK. MINISTERS WILL WISH TO CONSIDER

THE FULL POLITICAL IMPLICATIONS, INCLUDING THOSE OF

THE MOVE WHICH YOU HAVE IN MIND, AND TO DISCUSS IT WITH

YOU YOURSELF LATER IN THE WEEK.

3. WE RECOGNISE THAT YOU ARE HARD PRESSED BUT IN ALL THE

CIRCUMSTANCES WOULD LIKE TO SUGGEST THAT IT MIGHT BE

BETTER AS A FIRST STEP IF YOU WERE ABLE TO ASK BREMRIDGE

TO ARRANGE A VERY DISCREET VISIT TO LONDON BY AN EXPERT

FROM YOUR END WHO COULD HAVE FULL DISCUSSIONS WITH THE

BANK IN ADVANCE OF YOUR VISIT AND BE ON HAND TO ADVISE

YOU LATER IN THE WEEK.

HOWE

LIMITED

MR EVANS

HD/HKD

MR DONALD

PS

MR GIFFARD

PS/PUS

PS/MR LUCE

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tile B. Union Tay.

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D. Holla 1/ England.