Soithappenedthatasolutionto themonetarycrisiswasbeingnegotiated
betweenPompidou,aleadingfinancialexpertandaprofessionalbanker,anda
neophyte;eveninmymostmegalomaniacmomentsIdidnotbelievethatIwould
berememberedformycontributionstothereformoftheinternationalmonetary
system.FromtheAmericanmilitarybasewhereourpartywasensconcedin
barracks(exceptforthePresident,whowasgiventhebasecommande r’smodest
house),IhelicopteredtoPompidou’selegantvillaatafarendoftheisland.Iwas
accompaniedonlybyGeneralWalters,whowastoactasinterpreter.Pompidou
greetedmewithhisunfailingcourtesy,attendedbyhisinterpreter,Prince
ConstantinAndronikof.Webreakfastedoverlookingthelushmeadowsandgentle
hillsofPortugal’soutpostintheAtlantic,oneoftherelicsoftheperiodwhenthat
smallcountrysentitssonsonstupendousexplorationsofunknownseas,inspired
byfaithandsustainedbygreed.
Asthingsturnedout,mynegotiationswithPompidouwerelessonesided
thanourrelativecompetenceineconomicsmighthaveimplied.Connallyhad
givenmearangeofpositionsthathewaspreparedtoaccept.Idecidedthatit
wouldbesuicidaltoengageinatechnical negotiation.OnceIstartedretreating
fromourmaximumposition,Iwouldhavenologicalstoppingpointuntilwehad
reachedourfinalfallback.Mybesttacticwastoturnignoranceintoanasset,and
technicalincompetenceintoaweapon.IfIadvancedonepositiononlyand
refusedtobargain,itcouldbepresented—withoutbelligerence—astheinability
ofanamateurtocompetewithaprofessional.Ithereforechosetousethefirst
sessiontoreconnoitertheterrain.AfterwardIwoulddevelopapositionwith
Connallyandsubmititthenextday.
TodetermineFrance’srealpositionIpresentedtheissuetoPompidouin
philosophicalandpoliticalterms.Asettlementwasnecessaryandinevitable.It
wasboundtobereachedwithsomeoftheEuropeancountries,giventheir
inabilitytoarriveatacommonposition.WewouldlikeitbestifFrancewould
takethelead.Mypresenceasanegotiatorguaranteedthatwewantedan
outcomecompatiblewiththeself‐respectandneedsofeachside;itwastheonly
politicallyviableresult.Intheestablishmentofanewinternationalmonetary
systemnobodycouldafforda “victory,”sincethenewarrangementcouldbe
maintainedonlybythewillingcooperationofallitsmembers.Ihadcometo
negotiate,nottoimpose.ItwouldhelpmeifPompidouwould statehisminimum
requirements.Iwoulddomybesttobringaboutanunderstandingresponse