A Draft Resolution
1. The Consultative Assembly of the
Council of Europe expresses its thanks to the O.E.E.C. for the Sixth Survey submitted to it. and to Sir David Eccles for his presentation of this report.
2. The Assembly notes that the general economic situation of Western Europe, as described
in the OEEC Report, has improved in various respects, and specifically :
that the recovery of industrial production although so far limited to the consumer goods industries has gained in strength ;
that agricultural production has reached a new record level ;
that the level of prices, has been relatively stable ;
that the volume of trade between member countries of the O.E.E.C. has shown an increase;
that the trade balance of member countries as a whole with the rest of the world has continued
to improve ;
that the dollar deficit has been further reduced.
3. The Assembly, being concerned about the maintenance of these improvements in the economic situation of Western Europe, urges the O.E.E.C. to keep economic developments under
constant review and to prepare a programme of economic expansion, which can be implemented
should any signs of a recession appear in Europe.
4. In this connection the Assembly wishes to draw the attention of the O.E.E.C. to the need for expansion in the production of the under-developed parts of Europe and of her overseas territories, and to stress the importance of including the problems of these territories in the programme of selective expansion which the O.E.E.C. has under consideration.
5. The Assembly, furthermore, welcomes the consultations now taking place between governmental
experts from member, countries on the development of the economic. situation in Western Europe and on the co-ordination of national policies, and asks the Organization to make the widest possible use of these consultations
for the preparation and implementation of ' the programme of selective expansion.
6. Convinced that the progress of liberalisation
of trade has contributed to the recovery both of trade and of production in Western Europe, the Assembly welcomes the prolongation
of the European Payments Union and wishes to encourage the efforts of the O.E.E.C. to consolidate the liberalisation measures already taken, to extend these measures and to take appropriate action with regard to State trading, customs tariffs and artificial aids to exporters.
7. Noting the preparations of the O.E.E.C.
for a relaxation of quantitative restrictions on dollar imports, and, on the other hand, bearing in mind that the reduction of the dollar deficit is mainly due to the present high rate of American
military expenditure in Europe, the Assembly wishes to repeat that any approach to the convertibility of a European currency should not be made unilaterally, that convertibility
must never be achieved at the price of restrictions on trade, and that consultations among all parties should take place in the framework
of the O.E.E.C. before any decisive steps are taken.
8. The Assembly notes that a Ministerial
committee has been set up within the O.E.E.C. to study the problems connected with the re-establishment of convertibility and with the adjustment
of the present Western European system of trade and payments to a wider multilateral
system of world trade. The Assembly looks forward to the outcome of these studies and hopes that the O.E.E.C. will be able to report on them and give the Assembly an opportunity
of expressing its opinion on this important
matter before action is taken.
