asked the Taoiseach if he will state, in respect of the countries participating in the European Payments Union, the estimated balance of international payments in the year 1949, and in each of the two preceding years.
Ceisteanna—Questions. Oral Answers. - European Payments Union.
I presume that the Deputy's question relates to estimates of balance of payments between this country and other members of the European Payments Union. Transactions on current account between this country and the monetary areas of other countries participating in the Union are estimated to have yielded credit balances of £10.9 million, £2.5 million and £10 million in the years 1947, 1948, and 1949 respectively. In calculating these estimates, balances unaccounted for of £8.9 million in 1947, £11.8 million in 1948, and £8.5 million in 1949 have been allocated to current sterling earnings.