Word: oeec
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
There was some resentment among some Europeans because the U.S. had been called on to intervene. But "Robert Marjolin, secretary general of the OEEC (Organization for European Economic Cooperation), happily burbled: "No one can underestimate the magnitude of this accord...
...toughest question had been the share of Bizonia (the merged U.S. and British zones of Germany). The first figure arrived at by OEEC was $364 million, less $90 million in export contributions to Europe, leaving a net of $274 million. General Lucius Clay, who considers Western Germany all-important to European recovery, angrily decided that the figure was too low, that Bizonia was being treated as OEEC's ugly duckling. Lawrence Wilkinson, Clay's man in Paris, flatly refused to ratify the draft agreement...
...Europe, who in any case was getting frantic wigwags from EDAdministrator Paul Hoffman in the U.S. Harriman visited the top economic brass in Brussels and London, and finally persuaded Lucius Clay that German-needs, however important, must be subordinated to the interests of the whole. Clearly, however, the first OEEC figure would have to be raised. The final figure agreed on for Bizonia was $414 million, less $10 million in contributed exports...
Last week, the "four wise men" (as they were dubbed) submitted their suggestions to OEEC's full council. The biggest slice was to go to Britain (more than one and a quarter billion dollars); next was France (about $1 billion) ; Italy (about $600 million). Most of the beneficiaries felt that the portions had been fairly worked out. Most troublesome dissenters were the Greeks (down for a reported $150 million) and the U.S. representatives of Western Germany (down for $350 million...
Some gloomy reports from Paris last week said that European cooperation had been foiled and that the OEEC would have to ask Washington to slice the ECA pie. That, said one high OEEC official (an earnest Frenchman), was out of the question. "To admit to the Americans that we are incapable of dividing among ourselves the aid which they are giving to Europe would be an admission of European childishness-or decadence-which would make us all in this building very unhappy...