From the Treasury Diaries of Sir Alec Cairncross: Four Anglo-French Conflicts 1967–8

Extract

In the 1960s, when I was Head of the (UK) Government Economic Service, I kept a private diary of conversations and events which has just been published. The excerpts from the diary which appear below relate to what I learned in 1967–8 about French attitudes to issues of international importance in which the United Kingdom was involved. The diary deals with four such issues: (1) the British application to join the European Economic Community; (2) the proposals to add to international liquidity through the creation of a new unit or, alternatively, of Special Drawing Rights (SDRs); (3) the British devaluation of 1967; and (4) the Bonn Conference in November 1968, at which it was widely expected that agreement would be reached to devalue the franc and revalue the mark.