May 28, 1955

GREECE – LATIN AMERICA: Washington, 26 – The governments of Greece and 13 Latin American states have signed a protocol agreement to establish an international economic organization that will be a chapter of the International Bank for Reconstruction and Development (IBRD). The new organization will be authorized to fund economic development programs without guarantees from the government. It will begin operations when at least 40 governments deposit 75 million of the total target of $100 million. GREECE-ITALY-VATICAN: Rome (from our correspondent Ilias P. Dimitrakopoulos): (…) Italy clearly wants to restore closer and more friendly relations between the Greek government and the Vatican and has emphasized that the exchange of diplomatic representatives between these two independent states would be a significant step in that direction. Fears expressed in some quarters that such action wold result in increased efforts (by the Catholic Church) to proselytize in Greece were characterized as unfounded, for, according to a prominent Italian, «the period of colonial imperialism and religious proselytism is breathing its last.»