Word: planned
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Dates: during 1940-1949
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Then they got down to business. Chief items on the agenda: 1) to set up a European body to supervise Marshall Plan aid; 2) to work out a declaration of economic policy. They would try to decide just what each nation could best produce with its machines and men, how to reduce tariff barriers, how to bring the official value of national currencies into line with real purchasing power...
...emergency policy should establish forthwith a Council of Western Europe consisting of representatives of the governments of the sixteen participating countries in the European Recovery Plan, and Western Germany, to lay down the broad lines of common action. The council should have power to set up permanent international staffs to coordinate the social, economic and defense policies...
...first and most important task of the economic staff would be to frame concrete proposals for the stabilization of the currencies of Western Europe; for the development of trade; for the execution of the European Recovery Plan; for a comprehensive production plan, including agriculture and the heavy industries; and for colonial development. The necessary staffs should act under the direction, and by the authority, of the Council of Western Europe; and should be in continuous session...
Economic Boss Sir Stafford Cripps, more than any of his cabinet colleagues, believes in frankly telling Britons what they face. Last week his White Paper (Economic Survey for 1948) gave them the blackest news yet. Even with Marshall Plan aid, said his report, Britons' standard of living at year's end will be "appreciably, but not disastrously" lower than last year's. Without such aid, Britain would be flat broke (in terms of dollars). Food rations would have to be cut to near-starvation levels. Imports of raw materials would have to be slashed, causing mass unemployment...
...Manhattan to be installed as "No. 1 Leap Year Bachelor" by the publicity-conscious Barbizon Studio of Fashion Modeling. In the course of a much-photographed kissing tour of the city, he managed to stop traffic on Fifth Avenue.* He also delivered himself of an opinion on the Marshall Plan which disclosed that he had not altogether forgotten the paternity suit against him (TIME, March 15): "When it comes a-weanin' time [those European countries] are gonna squeal. You ever weaned a baby, honey? No? You try it, honey...