Word: outer
(lookup in dictionary)
(lookup stats)
Dates: during 1950-1959
Sort By: most recent first
(reverse)
Having done their homework well, and being of one mind, economic ministers of the Outer Seven needed only two days last week at the Swedish resort of Saltsjoebaden to agree on the essentials of their European Free Trade Association (TIME, July 27). Member nations hope to have the final draft by October and to announce their first common tariff reductions, to be effective next July. They made no bones about their real purpose: "To facilitate negotiations" with the bigger, booming Common Market Six (France, West Germany, Italy, Benelux) and thus head off a permanent division of European trade...
...inviting is the prospect of a Europe economically united that still another nation was anxious to join the Outer Seven. But little Finland has to be mindful of what Big Neighbor Russia thinks. Predictably, Pravda grumbled last week that 'Finland should watch out for entangling political alliances. Wise in the ways of Soviet nuance and tone, the Finns decided that the Russians were only growling, not really mad. Accordingly > the Finns promised the Soviets to wait until the final wording of the agreement before joining, but meantime agreed to join the Outer Seven in drawing up the final draft...
Denmark symbolizes the uneasy position of most of the Outer Seven nations and their fundamental long-range desire to join the Common Market proper. Much of Denmark's food exports go to Common Market countries, 25% to Germany. (As a whole, the Outer Seven nations trade more with the twice-as-large Common Market than with each other...
While British farmers cried out in dismay, their government promised to guarantee a market for Danish bacon, blue cheese and other dairy products to offset Denmark's loss in joining the Outer Seven. This gesture will cost Britain nearly $20 million a year in tariff revenue alone...
Germany's Economics Minister Ludwig Erhard. sympathetic to the cause of freer trade everywhere, promised Denmark not to discriminate against it for joining the Outer Seven. Germany hopes in time to put pressure on France to widen the Common Market club. But as Erhard points out, the Outer Seven is "dangerous medicine," even though "chances are good that it will work." And, as one of Erhard's aides adds: "Separate groups tend to form habits, generate loyalties, encourage parochial thinking. On the other hand, they can produce creative friction...