Volltext

Progress made by the six countries in the Common Market has been particularly spectacular over the last few years (see chart). Their currency reserves (gold and convertible foreign currencies) amounted to 19,528 million dollars by the end of 1965 and thereby surpassed by far the funds of the USA (14,687 million).

On the way to unity
This astonishing boom was accompanied by political and moral recovery. The need for cooperation sharpened the awareness of peoples of the free nations of what they have in common, and encouraged them to put aside the animosities they felt which were nationalist in character. The Union appears to be the only means by which they may preserve a degree of independence in the face of the pressure of the Soviet bloc. The loss of the colonial empires has also left its mark, leading to the relative seclusion of Europe, the settling of rivalries which go back to the end of the nineteenth century, and a feeling of solidarity in the face of the advancement of coloured peoples.
This path to unity, which most likely represents a milestone in the history of the West, has taken shape as a whole range of supranational institutions have been formed.