Word: comecon
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...COMECON meeting in Moscow, Nikita Khrushchev let loose another tirade against the Market, while in Britain, in full-page advertisements paid for by Tory Imperialist Lord Beaverbrook, Field Marshal Viscount Montgomery of Alamein blared: "I say we must not join Europe.'' Ghana's President Kwame Nkrumah denounced Britain's plans to enter the Market and found himself in tune with Australia's Prime Minister Robert Menzies, usually no friend of the Commonwealth's black members...
...Problems. Polish Party Boss Gomulka was not the only satellite leader to make the trip. Summoned unexpectedly to the Kremlin last week were the bosses of the Soviet Union's other dependencies -East Germany, Czechoslovakia, Rumania, Bulgaria and Hungary. Reason for the conclave: a top-level meeting of COMECON (Council for Mutual Economic Assistance), the lame, 13-year-old Communist-bloc alliance originally designed by Stalin as an answer to the Marshall Plan. The COMECON agenda was, as usual, secret, but obviously two acute problems had converged to unsettle Soviet policymakers: 1) the booming success of the Common Market...
...that Polish agricultural products and machinery exports may not be able to compete as the Common Market's tariffs to outsiders go up. Party Chief Wladyslaw Gomulka has been urging Polish industrial managers to produce better goods at lower prices. But the program of the Communist economic bloc (COMECON) is spotty; in East Germany, output is in such a sorry state that industrial control has been transferred from local party men to planners sent in from Moscow...
Innovations Fail. But if the Soviets need Yugoslavia's political aid, Yugoslavia now badly needs Soviet economic aid. Cut off both from Western Europe's Common Market and Eastern Europe's trade bloc, Comecon, the Yugoslav economy is on the point of collapse. Said one official of the Yugoslav National Bank last week: "We have more than $30 million worth of outstanding bills than we can pay. Our only prayer is that they don't all come in at once...
Gromyko's chat may have paid off. Said one leading Yugoslav official after Gromyko's departure: "If we had to make formal application either to the Common Market or to Comecon, we would apply for full membership in Comecon, with the full knowledge of all the political and economic meaning of such a move...