Small Industries- Phantom Growth

December 4, 1971 account and a floating rate for capita] and financial transactions. Given some haziness in transactions, this has enabled France to keep the appreciation in the value of the franc to less than 2 per cent. West Germany which floated the D-Mark in May 1971 is finding the situation becoming more difficult While the D-Mark has appreciated by 9-10 per cent since the May float, the country has been faced by growing unemployment and fears of a major recession. It is evident that West Germany would want to stabilise the D-Mark soon