EUROPE: Coal Is the Tyrant

At the heart of Europe's sickness last week, underlying its dollar deficiencies, its currency distempers, its lack of pep and its chronic sweat and tears, was a shortage of one grubby product—coal.

Old King Coal is the economic tyrant of Europe. On both sides of the Iron Curtain, he chills the poor, rocks governments, distorts economies and hampers rearmament. In the West he threatens to undo much of the good done by the Marshall Plan; in the East he blocks Communist Five-Year plans.

In Paris last week, Premier René Pleven gave French deputies...

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!