Word: marjolin
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...Common Market economies are moving closer together, and last week the Six carried out another scheduled 10% industrial-tariff cut among themselves, bringing their total tariff disarmament to 60%. Equally important, the Common Market Commission recommended that its members adopt another major unifying proposal by Commission Vice President Robert Marjolin of France...
France's Robert Marjolin, the Common Market vice president chiefly responsible for drawing up the action program, foresees that such sweeping economic changes will lead almost imperceptibly to a politically united Europe. One of his few critics is West Germany's free-trade-minded Economics Minister Ludwig Erhard, who objects that the "planifiers" will end by throttling free enterprise. Not so, reasons Marjolin. Supranational planning "will not hinder competition,'' but "guide its expression into the most fruitful channels...
Signs of Slackening. Each European exchange has its own local reasons for being dispirited. But there is also an overall fear that Europe's mighty postwar economic rebound is slowing down. Fortnight ago, Robert Marjolin, one of the Common Market Commission's three vice presidents, declared that he detected in Europe all the classic symptoms that herald the end of an economic boom, and speculated that "a recession might occur at the end of 1963 or later" And last week Sweden's Per Jacobsson, much respected head of the International Monetary Fund, reminded his fellow Europeans that...
...Both Marjolin and Jacobsson believe that right action can counter a descending economic spiral. Jacobsson believes that the great task of his final year as IMF chief will be to persuade the governments of all industrial nations to adopt in concert policies to encourage business expansion-notably stepped-up government spending and easy-money interest rates. The Times of London last week voiced the fear that without such a coordinated drive, "the European economy may slow down at the same time as the American"-a coincidence of events that has not occurred since the Great Depression...
...West as well as in the East, the forces grow," warned Marjolin. "The world balance changes while Europe lags behind." It is true, he added, that Russia expands without liberty and with forced labor. "We can pity the men, denounce the methods, but let us not forget that tomorrow we must reckon with Soviet economic power...