Stoltenberg Reaffirms Commitment to Louvre Accord

Finance Minister Gerhard Stoltenberg reaffirmed his commitment to the Louvre accord struck in Paris where leading industrialised countries agreed to stabilise the dollar around then current levels.

He told a congress of West German tax advisers in Hamburg the policy agreed in Paris has so far been successful in the mark/dollar relationship.

“We want to continue it (the policy),” Stoltenberg said. According to a text of his remarks released in Bonn, he also said trade tensions in specific branches had to be overcome and he warned against any return to protectionism.