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Mark Speculators Take A Bath No Revelling
London report says money speculators poured over 4 billion into German marks for a rise but lost hundreds of millions after West Germany refused to revalue the mark. About 600 million in hot money pulled from Germany as tensions ease, while officials warn the retreat may continue. The cabinet plans action to curb remaining speculative funds and squeeze the balance of payments surplus.
MENTIONED IN THIS ARTICLE
London
UPI
West Germany
Guenther Diehl
Bonn
Germany
Europe
Central Bankers Conference
Basel
Switzerland
Frankfurt Bank