International: Three in One

While people talked, more earnestly than ever before, about a possible European federation, the Lowlands countries did something about it. The Netherlands, Belgium and Luxembourg (an economic unit which would likely rank third after U.S. and Britain as the world's biggest free-enterprise producer and customer) were well on the way to economic unity. Last week they were represented at the International Trade Conference (see below) by one delegation, had given other nations tentative lists of common customs duties.

Since 1943 the three have formed a monetary union, which fixes the exchange rate of each currency with the other two. Now they are...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!