Organization for European Economic Cooperation

Anonymous

International Organization, 1957, vol. 11, issue 1, 199-201

Abstract: The Council of Ministers of the Organization for European Economic Cooperation (OEEC) convening in Paris under the chairmanship of Mr. Macmillan (Chancellor of the Exchequer, United Kingdom) received the report of a Ministerial Working Party of OEEC on November 15, 1956 which discussed the economic situation in member countries. The report noted the prosperity in western Europe, yet stressed the threats to it due to events in the middle east and interruption of traffic in the Suez. Besides a shortage of oil, the report noted a shortage of coal. It also stressed three weak points in the economy of western Europe: 1) the slowing down of the expansion of production; 2) the rise of prices; and 3) the imbalance in intra-European payments. It explained that the increase in production had fallen off due to a shortage of available labor; the rise in prices was due to excessive demand and increasing wages. The report called for serious fiscal measures, such as an increase in taxes, a reduction of subsidies to consumption and a cutting down of public expenditures. These measures could be supplemented by governmental action designed to increase competition in the home market and to enhance the free movement of workers in order to alleviate the man-power shortage.

Date: 1957
References: Add references at CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
https://www.cambridge.org/core/product/identifier/ ... type/journal_article link to article abstract page (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cup:intorg:v:11:y:1957:i:1:p:199-201_23

Access Statistics for this article

More articles in International Organization from Cambridge University Press Cambridge University Press, UPH, Shaftesbury Road, Cambridge CB2 8BS UK.
Bibliographic data for series maintained by Kirk Stebbing ().