THE PRESIDENT'S DAILY BRIEF 8 MAY 1971

• Document Type: FOIA
• Collection: President's Daily Brief 1969-1977
• Document Number (FOIA) /ESDN (CREST): 0005992657
• Release Decision: RIPPUB
• Original Classification: T
• Document Page Count: 7
• Document Creation Date: August 14, 2016
• Document Release Date: August 24, 2016
• Publication Date: May 8, 1971

_
Declassified in Part - Sanitized Copy Approved for Release 2016/07/19 : CIA-RDP79T00936A009500210001-9
The President's Daily Brief
8 May 1971
4 9
50X1
Declassified in Part - Sanitized Copy Approved for Release 2016/07/19 : CIA-RDP79T00936A009500210001-9
Declassified in Part - Sanitized Copy Approved for Release 2016/07/19 : CIA-RDP79f00936A009500210001-9
FOR THE PRESIDENT ONLY
THE PRESIDENT'S DAILY BRIEF
8 May 1971
PRINCIPAL DEVELOPMENTS
A major reshuffle of the Egyptian cabinet may be
imminent. (Page 1)
Proposals to change the parity of the West German
mark are encountering both domestic and foreign
opposition. (Page 2)
50X1
50X1
South Vietnar
(Page
3)
50X1
Laotian
50)(50X1
(Page 4)
FOR THE PRESIDENT ONLY
Declassified in Part - Sanitized Copy Approved for Release 2016/07/19 : CIA-RDP79T00936A009500210001-9
Declassified in Part - Sanitized Copy Approved for Release 2016/07/19: CIA-RDP79T00936A009500210001-9
FOR THE PRESIDENT ONLY
EGYPT
The US Interests Section has heard from an
"excellent source" that Prime Minister Mahmud Fawzi
will soon be named vice president, a post vacant
since Ali Sabri was dismissed. Candidates for the
prime minister's office include Foreign Minister
Mahmud Riad, Minister for Industry Aziz Sidqi, and
Minister of Interior Sharawi Goma. All three also
now, serve as deputy premiers.
Among those mentioned, only Goma is known
to have a strong political base. His con-
trol of the security apparatus makes him
one of the three or four most powerful men
in the regime, but it has also earned him
the enmity of some segments of the popula-
tion, particularly the students. Unlike
the others, who are essentially subject
to Sadat's wishes and control, Goma as
prime . .
minister would expect to exercise
authority in his own right and to take
public positions of his own, even though
his actions to date identify him as a
supporter of the president.
FOR THE PRESIDENT ONLY
Declassified in Part - Sanitized Copy Approved for Release 2016/07/19 : CIA-RDP79T00936A009500210001-9
Declassified in Part - Sanitized Copy Approved for Release 2016/07/19 : CIA-RDP79T00936A009500210001-9
FOR THE PRESIDENT ONLY
WEST GERMANY - INTERNATIONAL MONETARY SITUATION
German businessmen, bankers and ?trade unionists
are raising objections to any change in the parity
of the German mark, even in the form of a temporary
official "float." They fear that exports will be
reduced ata time when the German economy is showing
signs of a slowdown. In addition, farmers are com-
plaining that the agricultural prices they receive
under the European Community's Common Agricultural
Policy will be reduced.
Economics Minister Karl Schiller, who first
proposed the float, apparently has not been able to
win the support of the West German cabinet for a de-
cision to float the mark unilaterally. Germany's
partners at Thursday's meeting of the Community's
Monetary Committee opposed a revaluation of the mark,
a floating of the mark, or a floating of all Commu-
nity currencies.
The finance ministers of the Six, meeting
today in Brussels, will, Zook for a com-
promise solution. They are likely to
recommend that Germany attack the inflow
by imposing a 100-percent reserve require-
ment for, and stop paying interest on,
foreign deposits. Other possible measures
include restricting German corporate bor-
rowing in the Eurodollar market and re-
ducing the volume of Community central
bank reserves placed in Eurodollar ac-
counts.
If the solution acceptable to the Germans
is not worked out ?this weekend, a floating
of the mark cannot be ruled out despite
the opposition from other Community part-
ners. On the other hand, Brandt must
recognize that to act without the approval
of the rest of the Community could put
into question his efforts to demonstrate
his commitment to Western unity.
FOR THE PRESIDENT ONLY
Declassified in Part - Sanitized Copy Approved for Release 2016/07/19 : CIA-RDP79T00936A009500210001-9
Declassified in Part'- Sanitized Copy Approved for Release 2016/07/19 : CIA-RDP79T00936A009500210001-9
FOR THE PRESIDENT ONLY
SOUTH VIETNAM
FOR THE PRESIDENT ONLY
3
50X1
50X1
50X1
50X1
50X1
50X1
Declassified in Part - Sanitized Copy Approved for Release 2016/07/19 : CIA-RDP79T00936A009500210001-9
Declassified inPart- Sanitized Copy Approved for Release 2016/07/19 : CIA-RDP79-1009364009500210001-9
FOR THE PRESIDENT ONLY
NOTES
Laos:
Japan?China:
4
FOR THE PRESIDENT ONLY
50X1
50X1
50X1
50X1
Declassified in Part - Sanitized Copy Approved for Release 2016/07/19 : CIA-RDP79T00936A009500210001-9
Declassified in Part- Sanitized Copy Approved for Release 2016/07/19 : CIA-RDP79T00936A009500210001-9
Tob Secret
Declassified in Part - Sanitized Copy Approved for Release 2016/07/19 : CIA-RDP79T00936A009500210001-9