DEVASTATED AREAS

Greymouth Evening Star, 19 September 1946, Page 8

DEVASTATED AREAS

UNO REPORT ON PLANS FOR EUROPE SOVIET RESERVATIONS LONDON, Sept. 17. A report from the United ’Nations sub-committee on the economic reconstruction of devastated areas proposed the establishment of am economic commission for Europe. It pointed out that the report was a preliminary one, only. The 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 on the proposed economic commission, as several delegates had not yet received instructions from their Governments. The report says it is clear that Europe’s economy 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 the earliest possible moment. The report 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-committee 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 increasihgly important factor in the-world’s textile markets.