The Papers of Sir Frederick Catherwood

The European Parliament's delegation to the former Soviet Union and the Committees involved (Foreign Affairs, Economic and Foreign Trade) were concerned that the Russians could not meet the conditions laid down by the Group of Seven (G7), which insisted on currency reform before giving any aid. The hearing found that, because over half the industry in Russia and Ukraine was in defence, the IMF terms would involve a scale of redundancy without any social security which those countries could not face. They had been put in a 'catch-22.' Official documents and Parliament's Resolution. Catherwood was rapporteur.