Agreement Washington

Sep 10, 2021 von

For four days, at the end of February 1994, Ambassadors Redman and Galbraith held rapprochement talks at the Foreign Ministry in Washington between a Croatian delegation led by Mate Granic, Minister of Foreign Affairs, and a Bosnian delegation led by Prime Minister Haris Silajdzic. On 1 March, Croats and Bosniaks agreed on a framework for a federation of Bosnian and Croat majority territories in Bosnia and Herzegovina and on a provisional agreement for a confederation between the Federation and Croatia. During this period, the signatories to this Agreement have agreed that the total amount of their gold leases and the total amount of their use of gold futures and options will not exceed the amounts in force at the time of signing the previous Agreement. This agreement will be reviewed after five years. Together, the treaties signed at the Washington Naval Conference served to maintain the status quo in the Pacific: they recognized existing interests and made no fundamental changes. At the same time, the United States secured agreements that strengthened its existing policy in the Pacific, including the open door policy in China and the protection of the Philippines, while limiting as much as possible the extent of Japanese imperial expansion. „The deal was reached in response to concerns in the gold market, after the UK Department of Finance announced it was proposing to sell 58% of UK gold reserves through Bank of England auctions, with the prospect of significant sales by the Swiss National Bank and the possibility of ongoing sales by Austria and the Netherlands. plus the IMF`s sales proposals. The British announcement, in particular, had strongly destabilized the market, since it was announced in advance, unlike most other European sales by central banks in recent years. Sales from countries like Belgium and the Netherlands have always been discreet and were announced after the event. Thus, the Washington/European agreement was perceived at least as a ceiling for European sales. [2] „The independence of the Central Bank is enshrined in law in many countries and central bankers tend to be independent thinkers.

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