Economic Agreement between England - Ireland and Greece.

COPY 173725 Annex D Financial Agreement dated 22nd December 1921, between the Right Hon. Sir Robert Stevenson Hones, C.B.,B.E., K.C., M.P., Chancellor of the Exchequer, representing the Government of the United Kingdom of Great Britain and Ireland on the one part and His Excellency Monsieur Demetrius Gounaris representing the Kingdom of the Hellenes on the other part It is hereby agreed as follows:- 1. The British Government, despite the fact that the advances to Greece under the Agreement of 10th February 1918, have not yet been repaid, grants its consent under that Agreement to the assignment of security by Greece to a loan or loans to be raised in Great Britain up to a total not exceeding £15,000,000. 2. The Greek Government agrees that no part of the proceeds of any loan raised in Great Britain shall be applied towards repay- ment of advances made to the Greek Government by the Government of the United States of America. 3. The Greek Government will endeavour to ensure that as large a proportion as possible of the proceeds of the loan for which negotiations are now proceeding in London will be expended in Great Britain on British goods. 4. The Greek Government undertakes to make any payment that may be necessary to the National Bank of Greece out of the pro- cedds of the loan or loans to be raised in Great Britain in order to secure the assent of that Bank, to which the Greek Government has ceded its claims under the Agreements mentioned below and subject to such assent, the Greek Government waives all claims to receive any further advances out of the credit of £10,000,000 provided for - 1 -