Word: comecon
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...agency driving to build this unheralded rival to Western Europe's powerful six-nation Common Market is the Council for Mutual Economic Assistance, or COMECON. Founded eleven years ago in Moscow as a crude Stalinist device for milking the satellites for Soviet benefit, COMECON was transformed into some thing more palatable after the 1956 Polish and Hungarian risings had compelled the Russians to pour $1.5 billion in emergency aid into the satellite lands. Communist rulers of the seven satellite nations pledged their peoples' labors to help Nikita Khrushchev overtake and "bury" the capitalist West through a planned...