In the 1920s, financial instability was a major problem for France, and other nations as well. it was vulnerable to short-term concerted action by banks and financial institutions by heavy selling or buying, in the financial crisis could weaken governments, and be used as a diplomatic threat. Premier and Finance Minister Raymond Poincaré decided to stabilise the franc to protect against political currency manipulation by Germany and Britain. His solution in 1926 was a return to a fixed parity against gold. France was not able to turn the tables and use short-term financial advantage as leverage against Britain on important policy matters.