Word: oeec
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Dates: during 1940-1949
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...Vicious Cycle. He came to talk to OEEC (ECA's European governing body consisting of representatives of all the Marshall Plan participants) about Western Europe's economic integration. That, in addition to Western Europe's economic revival, had been an objective of the Marshall Plan. Revival had been spectacularly accomplished; integration had so far failed. Paul Hoffman explained why integration was necessary...
...British were veering toward a practical, circumspect approach. They were inclined to ask for only a little now in the way of special help from the U.S., in the hope of more later. Specifically, they would probably propose a larger British slice of the ECA pie for Europe, which OEEC is currently fighting over (see below); a freer hand in spending their ECA allotment; a cut in U.S. tariff duties on British goods, an easing of U.S. customs red tape, and permission to save dollars by discriminating more freely against certain imports from the U.S. (i.e., buying goods, instead, from...
...British dollar crisis seriously affected Western Europe's hesitant start toward economic integration. In Paris the OEEC (Organization for European Economic Cooperation) sat down to divide up the Marshall Plan dollars for 1949-50. The estimates of irreducible need from each country totaled about $5 billion. Since the U.S. Congress was expected to provide only about $3.7 billion, a working party was set to paring down the estimates. When, with blood almost visibly dripping from the knife, the working party reported, there were cries of pain from Britain. Direly worried about the immediate future,Britain had upped her original...
...Nails. In the hall, weary newsmen despaired when Claude, the beer and sandwich man, went home muttering "No one pays me to stay after 12." Even an OEEC official said: "The West can never agree without Russia. When Russia is present we have no trouble agreeing to stand together, but when Russia is away," he shrugged his shoulders, "look at this...
...Cripps walked down the stairs, an OEEC man cracked: "There he goes to his nice bed of nails...