Organization For European Economic Cooperation

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Organization For European Economic Cooperation

Summary of Organization For European Economic Cooperation

A post-World War II organization established to coordinate the reconstruction of Europe. The OEEC arose in response to an Anglo-French declaration in 1947 calling for European cooperation to advance the Marshall Plan. Sixteen European nations responded to the call by forming the Commitee of European Economic Cooperation, which devised a program to rehabilitate the European economy by the end of 1951. In 1948 the committee was restructured as a permanent organization; Canada and the United States became associate members of the OEEC in 1950. The two main purposes of the OEEC were to collaborate in carrying out the U.S. aid program in Europe (the Marshall Plan), and to advance trade liberalization and financial stability in Europe. In 1950 the European Payments Union (EPU), under OEEC auspices, supplanted the Intra-European Payments Agreement. The EPU provided an automatic clearing system for settling trade balances between members and for the granting of shortterm credits. In 1961, the OEEC was succeeded by the Organization For Economic Cooperation And Development (read this and related legal terms for further details).

(Main Author: William J. Miller)

Organization for European Economic Cooperation

Embracing mainstream international law, this section on organization for european economic cooperation explores the context, history and effect of the area of the law covered here.


Further Reading

  • The entry “organization for european economic cooperation” in the Parry and Grant Encyclopaedic Dictionary of International Law (currently, the Encyclopaedic Dictionary of International Law, 2009), Oxford University Press

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