Word: effects
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Dates: during 1950-1959
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...Firmly endorsed and sometimes led the massive continental surge of U.S. allies in Europe through private-enterprise prosperity toward greater political-economic unity, symbolized by the six-nation European Common Market, which goes into effect this week...
...Squeeze. All this, despite the fact that Britain has long been contemplating external convertibility, had the effect of putting a painful squeeze on France. Yet Pinay had not opposed the British and Germans; in fact, it was he who proposed advancing the date to Dec. 27. With the franc officially valued at 420 to the dollar but selling in the free market for 470 or worse, General de Gaulle's government was already faced with one harsh fact: unless the official value of the franc were brought into line with its true value, French products would be too highpriced...
...Outward Sign. Europe's brisk plunge into external convertibility had one important side effect. It spelled the end of a useful eight-year-old system, the European Payments Union. Foreseeing such a day, 17 countries of Western Europe pledged themselves, back in 1955, to settle their foreign-trade accounts through a new organization called the European Monetary Agreement. Unlike E.P.U., it will not automatically extend credits to nations that run a deficit in their inter-European trade. Without the cushion of automatic credits, all Western European nations-and especially France, which ran up a $460 million deficit in E.P.U...
...Trouble with previous analytic or "depth psychology" schools, he argued, is that they fail to get to the root of the problems that send patients to analysts nowadays. Thus both scientific progress and improvements in treatment are blocked. May & Co. are convinced that when conventional analytic treatment appears to effect a cure, in all probability something has been going on inside the patient that was different from what the analyst believed...
...rush to buy was so great that trading had to be suspended for 1½ hours. When it was resumed, A.T. & T. sold at $225 a share, up $23. Earlier in the year A.T. & T. had another profound effect on the market. In September, it decided to put $260 million of its pension fund into common stocks. It was a signal that to one of the most conservative investors in the nation, stocks were not only respectable but prudent investments...