SECRET
ORIEL
(c)
(d)
It would be helpful to know more about the contingencies which the Treasury have in mind when they speak of commitment of UK Government resources. We understand that they have already told Blye that they would not favour any form of link of the Hong Kong dollar with sterling. Is the worry largely a general one of the accumulation of commitments by the Hong Kong Government which might pass as liabilities to HMG in a worst case situation? In considering that sort of problem proper weight of course has to be given to the need for the Hong Kong Government to be seen to be active in support of the economy and to be showing confidence in the future.
The Governor has suggested a meeting beween 13 and 17 January including the PUS, Treasury and Bank of England. Who should attend? What date? (The Governor is already seeing the Governor of the Bank of England separately on 13 January).
R D Clift
3 January 1984
Hong Kong Department
SECRET
-
ORIEL
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