Word: oecd
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...Working Party III is a special and highly influential sub-committee of the 21-nation Organization for Economic Cooperation and Development (OECD), an offspring of Western Europe's Marshall Plan cooperation. It is composed of both government officials and central bankers from Europe and the U.S. The subcommittee passes on the creditworthiness of governments and, in cooperation with the BIS, runs a continual "surveillance" of the international monetary system. Its great power comes from the fact that its decisions are usually accepted by the money-lending nations. Meetings: once every six weeks in Paris...
...population of 5.9 million, is not xenophobia but one of three measures to combat rampant inflation (14% in the past five years v. 5% in the U.S.). The other two: tighter credit and a reduction in public and industrial construction, to prevent continued economic overexpansion. The last OECD report called these three measures justified, even insufficient...
...Place Vendóme, where Chairman Davidson has received more inquiries about who gets the apartment after the campaign is over than anything else. The Johnson committee in Paris includes Novelists James Baldwin, Mary McCarthy and James Jones, as well as lawyers, journalists, businessmen and the wives of OECD and UNESCO officials...
...idea of a "parliament" of all nations participating in the Alliance, which would have authority to establish Alliance priorities, approve projects, coordinate with government spending, help arrange commodity agreements and currency stabilization. Advising the parliament would be a staff of experts, patterned after the European commission (now OECD) that coordinated Marshall Plan aid. "Without such a mechanism,'' said Lleras in Rio, "the Alliance becomes just a presentation of petitions to a sole financier, the U.S., which seems to reserve for itself the right to condition aid to special circumstances in its relations with interested countries...
...NATO, keeps most of its metropolitan territory out of the air warning system, and even prohibits foreign nuclear weapons on French soil. Still, sheer geography gives France a veto on NATO planning. Could France be ignored in the tariff discussions of the 40-odd members of GATT, or in OECD, the European economic coordinating group that grew out of the Marshall Plan? Hardly, since the economies of all Western European nations are intertwined with France's. The urgent French need to export food surpluses, and its booming market for other nations' industrial goods, are the stick...