DEVASTATION IN EUROPE

Press, Volume LXXXII, Issue 24984, 19 September 1946, Page 5

DEVASTATION IN EUROPE

REPORT ON PLANS FOR RECONSTRUCTION ECONOMIC COMMISSION SUGGESTED (N.Z. Press Association—Copyright) (Rec. 8 p.m.) LONDON, Sept. 17. A report from the tlnited Nations sub-coinmittee on the economm. reconstruction of devastated areas proposed the establishment of an economic commission for Europe. ‘lt pointed out t£at the report was a preliminary one, only. Thfe Russian and Ukrainian delegates “reserved their positions,” not only on the recommendations for Europe but on the report as a whole. No vote has-been taken Von the proposed economic commission, as several delegates had not yet received instructions from their Governments. The report says it is clear that Europe’s z ecanomy cannot be placed on a satisfactory footing in 1947 and subsequently without outside financial assistance for essential imports. The International Bank should come into full operation at tfiS - earliest possible moment. • The xeport adds that the lack of raw materials in Europe is not as serious as the shortage of coal and machinery, and in some countries, for example France, of manpower. The sub-com-mittee does not expect that for the period of the current five-year plan the pattern of Russian foreign trade will alter greatly. Italy will probably become an increasingly important factor in the world’s textile markets.