Word: saltsjoebaden
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Dates: during 1959-1959
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Having done their homework well, and being of one mind, economic ministers of the Outer Seven needed only two days last week at the Swedish resort of Saltsjoebaden to agree on the essentials of their European Free Trade Association (TIME, July 27). Member nations hope to have the final draft by October and to announce their first common tariff reductions, to be effective next July. They made no bones about their real purpose: "To facilitate negotiations" with the bigger, booming Common Market Six (France, West Germany, Italy, Benelux) and thus head off a permanent division of European trade...
Swedish seaside resort of Saltsjoebaden, near Stockholm, as 79 delegates from seven nations-Britain, Norway, Sweden, Denmark, Switzerland, Austria and Portugal-gathered to put the finishing touches to their own free-trade association, known familiarly as the "Outer Seven" (though some of its members think the name invidious). Recognizing, in the words of one British official, that "we simply cannot let the Common Market Six build up walls we may never be able to scale," the Outer Seven have decided to get their commerce into step with the Common Market. Thus their draft plan envisions a tariff reduction...
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