Word: marketing
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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...
Immediate cause of this coordinated shake-up was a portentous rumor that began to buzz through Europe's chancelleries as 1958 waned. To celebrate the inauguration of the Common Market, so the story ran, West Germany planned to make the Deutsche Mark freely convertible currency-a move that might well transfer the banking capital of Europe from London to Bonn...
Whether they dreamed of it or dreaded it, the statesmen of Western Europe had all come to accept the fact that a new era will dawn on New Year's Day 1959, when the long-planned European Common Market finally begins to forge France, West Germany, Italy and the Benelux nations into a single economic unit. Last week, in dramatic preparation for the new era, ten European nations carried out at one fell swoop the most far-reaching international currency reform since World...
...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 to compete freely-as they must within the six-nation Common Market...
...immediate future are flimsy." At first reading there was indeed cause for worry. By tradition Canada follows the U.S. economy, and signs seemed to indicate that she would follow the U.S. into recession. Factories were on short time, unemployment was climbing toward a postwar peak, and the stock market was a growling bear, with prices near the lowest levels in a year...