1. FOLLWING IS TRANSLATION OF ITALIAN TEXT OF OFFICIAL
COMMUNIQUE RELEASED AUGUST 31 BY CHANCELLOR SCHMIDT AND
PRIME MINISTER RUMOR FOLLOWING TALKS AT BELLAGIO AUGUST 30-31.
UNCLASSIFIED
UNCLASSIFIED
PAGE 02 ROME 12065 031808Z
2. /QUOTE/. THE TWO CHEFS OF GOVERNMENT, WITH THE PRIOR
AGREEMENT OF THEIR MINISTERS OF TREASURY AND FINANCE RESPECTIVELY,
AGREED ON A DEPOSIT OF $2 BILLION AT THE BANK OF ITALY DRAWN
FROM THE EXCHANGE RESERVES OF THE GERMAN BUDESBANK AND ON
A GOLD DEPOSIT AT THE GERMAN BUNDESBANK BY THE BANK OF ITALY.
THE CONDITIONS FOR THIS AGREEMENT HAVE BEEN AGREED UPON BETWEEN
THE CENTRAL BANKS OF THE TWO COUNTRIES AND ARE NOW UNDERGOING
APPROVAL BY THE COMPETENT ORGANS OF THE BANKS.
3. THE PRESENT AGREEMENT FALLS WITHIN THE FRAMEWORK OF
THE INITIATIVE TAKEN AT ZEIST BY THE MINISTERS OF FINANCE
OF MEMBER COUNTRIES OF THE EC AND CONFIRMED AT WASHINGTON
BY THE GROUP OF 10.
4. THE TWO CHIEFS OF GOVERNMENT EXPRESSED THEIR SATIS-
FACTION IN THE FACT THAT, WITH THE PRESENT AGREEMENT, A MO-
BILIZATION OF THE GOLD COMPONENT OF FOREIGN RESERVES HAS BEEN
CARRIED OUT AT A PRICE RELATED TO THE MARKET PRICE. /END QUOTE/.
VOLPE
Source: https://www.wikileaks.org/plusd/cables/1974ROME12065_b.html
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