April 30, 1957

GREECE-TURKEY: New York, 27 – According to reliable sources in Washington today, the already strained relations between Greece and Turkey have now deteriorated to the point where the United States government feels compelled to intervene to avert further problems. Describing the situation as dangerous, the newspaper American Journal writes in an article, «The United States is working on the sidelines to try and prevent conflict breaking out between Greece and Turkey.» CHEAP MONEY: A general meeting of National Bank shareholders was held yesterday to discuss the board’s report for 1956, which is important as it follows views expressed recently regarding the appropriate policy to follow in order to boost production in Greece. The report focused on the bank’s views on the most appropriate economic policy, which the board recommends should tend toward eliminating the free money market and providing long-term capital at a low interest rate in order to raise production and put Greek industry in a position to compete with foreign products.

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