Word: oeec
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Dates: during 1948-1948
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Chief aim of the parley and of the OEEC is to assist the 16 ERP countries to dispense with outside aid by 1952, expiration of the present ERP. The OEEC works with America's Economic Cooperation Administration...
With its prestige secure, the Marshall Plan forged ahead. In France and most other OEEC countries (notably excepting Italy and Greece), the end of the "dole" phase was in sight and the productive phase had begun in earnest. Western Germany was smiling and flexing its muscles as a result of strengthened currency and tempting food to buy with it-Italian tomatoes, Mexican canned beef, Portuguese beans, U.S. lard. Production was up 20% in the last two months; Ruhr iron & steel set postwar records. In Frankfurt, a mechanic named Johann Schaeffer broke his three-year habit of saying "schreck-lich" (frightful...
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...