One of the major industries of Geneva—along with banking and watchmaking—is the care and feeding of the European headquarters of the United Nations, which now includes five senior agencies, 20 international programs, 41 annual conferences and 4,000 official meetings each year, all charged with carrying out the decisions of the General Assembly in New York City. The Swiss call it "the golden egg," and with good reason. Since 1966, the combined budgets of the various organizations and agencies have doubled, swelling to $250 million annually, more than is spent by the U.N. in New York. The U.N.'s Geneva headquarters...

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