Word: euratom
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...this year, two treaties which promise to remodel them into a compact industrial unit. An outgrowth of existing West European agreements, the Common Market Treaty plans to eliminate all tariff walls and erect a common rate among its signing nations. To further this common economic endeavor, a second treaty, "Euratom," will set about overhauling Europe's industrial power, replacing by 1967 present coal and oil energy with 15 million kilowatts of unclear power. While the Common Market Treaty will produce tensions and stresses when attempted (Germans are already complaining about their disproportionate contribution to proposed French West African development), Euratom...
Initial stimulus for nuclear power development stems from the crisis in Suez oil shipment. Europe now imports twenty-five percent of its fuel and, with industrial reconstruction and expansion, will be forced to increase this proportion yearly. Euratom promises both to stabilize conventional fuel usage at fifty percent of its present figure and correspondingly institute enough atomic power to handle the remainder--plus whatever growth will require...
Many advantages are expected from such a revised European economy. As well as relieving a fuel shortage, Euratom should help ease political pressure upon Middle Eastern oil suppliers. Europeans have seen, at home, ineffectual results from attempts at political and military unification without a preliminary economic solidarity. With the proposed plan for a common economic future, colonies, arms, and atoms will prove common problems with collective solutions to European nations...
...first treaty, there will be no tariff walls between the six nations, and a common tariff rate will be set up between them and the rest of the world (TIME, Jan. 28); under the second treaty the six will enter the nuclear age together in one big cooperative (Euratom) of nuclear research and production...
...estimated reactor cost high, but actual construction costs have been running 50% and even 100% above original estimates. The result: many proposed reactor plans have not gone beyond the announcement stage. As a sample of how fast the rest of the world is moving, Murray pointed to EURATOM (the six-nation European Atomic Community-see FOREIGN NEWS), which recently set its 1963 reactor objective at 3,000,000 kw. (equal to 30 of the Shippingport reactors, and twice the capacity of all U.S. civilian-power reactors now projected), with a goal of 15 million kw. by 1967. EURATOM, said Murray...