Word: oeec
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...bright Hugh Gaitskell, Britain's Minister of State for Economic Affairs, had carried on delicate negotiations. Observers guessed that Gaitskell was inching toward agreement with the continental nations when his mentor, Sir Stafford Cripps, gradually withdrew from the talks and went off on a vacation. Gaitskell and his OEEC colleagues finally worked out a scheme to save Britain from an excessive dollar drain. It agreed to admit not merely Britain but the entire sterling area to EPU, and to provide special safeguards against a run on Britain's dollar reserves; e.g., member nations may not demand dollars...
...will open for business July 1. Said ECA's Milton Katz, who carried the ball for the U.S. in the EPU negotiations: "This will help the European family be a family." An OEEC official had an even higher tribute. Referring to Europe's toughest traders, who have so far stayed aloof from most international schemes, he said: "Even the Swiss...
Free Men or Slaves? The Atlantic Council also: 1) set up a North Atlantic planning board for ocean shipping, to coordinate the West's merchant shipping in case of emergency; 2) provided for the informal inclusion of the U.S. and Canada in OEEC (the European Marshall Plan organization) so that plans can be made for some sort of U.S. help after 1952, when the Marshall Plan ends; 3) assured Greece, Turkey and Iran that, although they are not members of the North Atlantic Treaty, the U.S. and its Allies retained a "deep interest" in their security...
Atlantic Coordination. Neither London nor Washington had responded with enthusiasm to French Premier Georges Bidault's recent proposal for a supreme "Atlantic High Council." But all wanted something less grandiose that would pull together, within the framework of the North Atlantic Treaty, the varied work of the OEEC, the Council of Europe, the Brussels Treaty powers and U.N. agencies. A North Atlantic coordinating committee, composed of ambassadors and with a small secretariat, might be the outcome...
Paul Hoffman, who for months has been asking Western Europe to lower import quotas, establish an effective intra-European payments plan and end dual pricing (TIME, Nov. 7 et seq.), believes that so far OEEC has done little more than pay lip service to his program. Europeans must get a move on toward working out economic integration, quit approaching that vital problem as though Europe had at least 28 years in which to solve it. The cold fact is that Europe has only 28 months...