March 12, 1958

KARAMANLIS’S EUROPEAN VISION: The leader of the National Radical Union (ERE) and until recently prime minister, Constantine Karamanlis, referring to talks on a European Coal and Steel Community, has made the following statement: «Over the past month the government recognized the general principles which should govern any form of European economic unification so as to avert the risks of economic recession in the developing European countries and to ensure the inclusion of these in a unified European market and economy. The Greek proposals are as follows: the establishment at the highest political level of a European authority for economic development with sufficient capital to subsidize economic infrastructure investment in economically weaker countries; the setting up of a European investment bank for the long-term subsidization of business projects; the introduction of sufficiently strong incentives for economically developed European countries in order to promote business and productive activities in Europe’s developing countries, and, finally, measures to ensure an expanding European market for the main agricultural exports of these countries.»

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