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Proposals for action to be taken by the Member States of the Council of Europe between themselves and also between the

latter and other nations

The Consultative Assembly requests the Committee of Ministers:

To invite the Governments to intensify the spread of economic information through existing channels and at the same time to provide for the Council of Europe itself to take direct action by every available means to make the peoples of Europe aware of the gravity of the peril in which they are living, and of the advantages to themselves of uniting their resources in a common effort to regain solvency and reach a new level of prosperity

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2. To take all practical steps to establish as quickly as possible a multilateral system of payments, including the restoration of the inter-convertibility of European currencies, subject to the safeguards necessary to enable the movement of capital to be controlled during the transitional period.

3. To create permanent machinery for consultation on credit policy between central banks of issue, and for the co-ordination of credit policy.

4.

(a) To follow up and extend the work of 0.E.E.C.

in liberalising inter-European trade, and all studies now being made in regard to the economic relations of Europe and its overseas associates and territories.

(b) To take all preliminary action for the

(၁)

(a)

(e)

establishment of a European economic union, which shall retain the preferential systems and economic ties now in existence between certain European nations and the overseas countries and territories associated with them; and to consider their progressive extension to the other Member States of this union.

To study the development of production within the territories of the members of the conference so that their individual import requirements may be met as efficiently as possible from their combined resources.

To study appropriate action for the progressive abolition of the obstacles to the free movement of men and for promoting the widest possible employment of labour in the metropolitan and overseas territories of Member States and of their associates.

To study the conditions under which the investment in their territories of American and other non- European capital could be encouraged.

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