Word: oeec
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...offspring, the U.S. Americans, seeing Europe from a distance and therefore as a unit, had often been better Europeans than many Europeans. Thus, when the U.S. offered the Marshall Plan in 1947, it shrewdly insisted that the European nations cooperate in estimating their needs and in spending the funds. OEEC, the multi-nation agency through which Marshall Aid was pumped into Europe, was a crucial example of cooperation. Followed by the NATO alliance, it prepared the way for Jean Monnet's boldly planned Coal and Steel Community, direct forerunner of the Common Market...
...suggestion of U.S. Under Secretary of State Douglas Dillon, they agreed to set up a temporary committee to think about increasing and coordinating foreign aid programs. For the long range, they decided "in principle" to establish a 20-nation Atlantic economic community consisting of the 18 members of the OEEC (the longstanding Organization for European Economic Cooperation, set up in Marshall Plan days), plus the U.S. and Canada. The details would be worked out by four "wise men": one North American (U.S. Ambassador to NATO W. Randolph Burgess); one Frenchman, to represent the Common Market Six (Bernard Clappier...
...Gaulle's France not only got Spain invited into the Organization for European Economic Cooperation, but helped it get OEEC aid. Last September De Gaulle himself told Spain's Foreign Minister Fernando Maria Castiella y Maiz that "Franco and the Spanish people have rendered great services to the world-the new Spanish stability marks a step toward complete Western European integration." Finally in October, just 300 years after Spain's Chief Minister Luis de Haro and Cardinal Mazarin of France met on a tiny neutral island in the little Bidassoa River to sign the Peace...
...peseta, which up until now has been subject to at least 13 different exchange rates, would be fixed at 60 to the dollar. Excused for the time being from paying $45 million in foreign debts. Spain would get an injection of $375 million in additional aid from the U.S., OEEC, the International Monetary Fund, private U.S. concerns...
...longer buy their pesetas on the black market. The liberalizing of imports and the streamlining of the whole process of giving out import licenses should drastically cut down on the profession of smuggling, which now accounts for one-fourth of Spanish trade. Most important of all, membership in OEEC takes Spain out of limbo and into a Western Europe progressing healthily while Spain has been deteriorating economically...