Word: non-communist
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Thieu-Teared. One of the latest approaches is a U.S. proposal for a "two-tier" government for South Viet Nam. One Saigon government would control the non-Communist portion of the South and another would run the Communist-held parts-perhaps including all or most of Quang Tri and Binh Dinh provinces and a slice of Military Region II along the Laotian border...
First, to preserve their own fragile unity, they reaffirmed that the value of Common Market currencies should stay fixed within very narrow margins and fluctuate only slightly in dealings among member countries. Beyond that, to preserve the Smithsonian agreement, which set the values of the major currencies in the non-Communist world last December, they agreed to buy up any dollars that flooded into their countries. Thus they headed off at least temporarily the possibility of still another dollar devaluation and protected the present values of other weak currencies. Still, there may well be new blowups ahead. A top officer...
...non-Communist interim government, no matter who headed it, would almost certainly lead a perilous existence. To survive, it would require massive U.S. financial and political support. There is no assurance that a government of disparate groups could achieve a settlement with the well-organized National Liberation Front and avoid domination by the Communists...
...that matter, such a government might not even last long enough to negotiate. In any post-Thieu situation, the army would remain the most powerful non-Communist force in South Viet Nam. If a caretaker government seemed likely to give way to a Communist-dominated government that would seek reunification with the North, the army might well try to seize power and resume fighting...
Such aims are easier to state than achieve. Burns warned that unless a start is soon made, the non-Communist world may break up into restrictive and competing trade blocs. His initiative moved Treasury Under Secretary Paul Volcker to set a tentative timetable for monetary reform. Volcker specified the International Monetary Fund meeting in the fall of 1973 as "a useful target date for getting a general agreement...