ECONOMIES OF EUROPE
DEPENDENCE ON U.S. ASSISTANCE PROSPECTS REVIEWED BY U.N. AGENCY | LONDON, May 25. The United Nations Economic Commission lor Europe, in a report | published in Geneva to-day. predicted that Europe’s imports from the United States would be halved when American I aid ends, although production had surpassed its pre-war level everywhere except in Germany and Greece. The report said that Europe was more than ever dependent on American financial aid to cover its payments deficit. Long-term remedies suggested by the report included a substantial increase in United States imports from the rest of the world, and expanded United States investment abroad, in the development of the world's productive resources. The report gave a sombre picture of economic prospects after the scheduled end of the Marshall Plan in 1952. and declared that national and internanational economic policies had not yet been adjusted to meet the situation. An unavoidable £714.000.000 cut in Europe's imports from the United States would be accompanied by severe repercussions on the economy of the entire world. This would require a “difficult readjustment’’ in America itself.
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Press, Volume LXXXVI, Issue 26123, 27 May 1950, Page 7
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180ECONOMIES OF EUROPE Press, Volume LXXXVI, Issue 26123, 27 May 1950, Page 7
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