Austria, after 17 years of occupation (first by the Nazis, then by the Four Powers), has been free a year, and reveling in prosperity. Even its politics reflects contentment: for ten years the People's Party of Chancellor Julius Raab and its principal opponents, the Socialists, have shared a happy but energetically disputatious coalition government.

In February the partners fell out over the rich oilfields and 291 other industries that the Russians returned when they left Austria. The Socialists wanted to nationalize them 100% (Austria, with only one-third of its industry remaining in private hands, is perhaps the most nationalized nation outside...

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