Word: beneluxers
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...Netherlands-had bounced back faster than many of its bigger neighbors. Its man-hour productivity was one of the highest on the continent (citizens could hardly remember the last bad strike); its currency, like Belgium's, was freely convertible into dollars. Because trade barriers in the Benelux nations are being broken down, Goodyear could produce in Luxembourg and still sell in Belgium and The Netherlands. The job was to convince Luxembourg that it needed a U.S.-owned tire plant...
Litchfield's men mustered some powerful arguments. Goodyear, they said, was after no new markets; it simply wanted to sell tires in Europe for local currencies instead of dollars-and thus help conserve scarce continental dollars. Furthermore, they argued, a Goodyear plant would be healthy for the Benelux economy, giving a new source of employment. And local revenues would increase still further when Goodyear's plant started buying such Benelux raw materials as rubber from the Belgian Congo and the former Netherlands East Indies, and rayon and cotton cord from Belgium and The Netherlands. Another potent argument...
...middle stage between the short-range and long-range objectives would be regional groupings, like the proposed monetary and customs union among Benelux, France, Italy and, eventually, Western Germany...
...German industry can seek foreign investment and economic cooperation with France, Italy, and the Benelux nations...
Meanwhile, French Finance Minister Maurice Petsche was sponsoring the idea of "regional integration." So far, after more than two years of fiddling with the project, the Benelux countries still had no coordinated monetary policy, encountered rough going toward economic union, largely because The Netherlands' economy is geared more closely to Britain's than to those of her continental allies. Now Petsche was plugging a new regional grouping, to be known as Fritalux, i.e., France, Italy and Benelux. Object: monetary union...