PARIS: A financial adviser to the late President Kennedy yesterday [Dec 2] supported the French Government`s criticism of the present dollar-gold exchange standard.
Mr Robert Triffin, now a Professor at Yale University, was speaking in an interview with the French economist Jacques Ruef on the independent radio station, Europe No. 1.
Stressing that he spoke as a private citizen, Mr Trifflin said the gold exchange standard, which pegs the value of the dollar as an international currency at 35 dollars an ounce, enabled Britain and the United States to run up large deficits and evade the economic discipline other countries have to accept.
French Finance Minister Michel Debre used the same argument in his attack on the international monetary system at a meeting here of the 21-nation Organisation for Economic Cooperation and Development (OECD)last Friday.
Mr Triffin said he also recognised the arguments of President de Gaulle, who at his Press conference last Monday called for an end to United States` `abuse` of its balance of payments deficit for large investments in Europe.
The US economist called for the setting up of an international currency to finance world trade and urged the need for the intelligence of man to arrive at this solution. Agency [Meanwhile, as reported by an agency in Istanbul,] Mr Kassim Gulek, a leading parliamentarian of Turkey, will visit Pakistan early next year to form a CENTO Parliamentarians Association [Dec 3].
He told [agency] that he had already received an encouraging response from Pakistan, Iran and the United Kingdom.