ECSC financial report for the year 1956

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ECSC financial report for the year 1956

Abstract

EUROPEAN COAL AND STEEL COMMUNITY HIGH AUTHORITY FINANCE DIVISION Financial Report for the year I 956 , _,_ EUROPEAN COAL AND STEEL COMMUNITY HIGH AUTHORITY Rene Mayer Franz Etzel Albert Coppe Leon Daum Paul Finet Enzo Giacchero Heinz Potthoff Dirk Spierenbur~ Albert Wehrer President Vice-President Vice-President Member of the High Authority Member of the High Authority Member of the High Authority Member of the High Authority Member of the High Authority Member of the High Authority FINANCE DIVISION Paul Delouvrier, Director H. Skribanowitz, Alternate Director 3 The balance-sheet of the High Authority is expressed in EPU Accounting Units Present parity: 1 EPU Unit - 1 US $ In this report the amounts stated in EPU Accounting Units are the equi- valent of various European currencies computed at the following rates for 1 EPU-Unit: DM BFrs. FFrs. Lire Lux. Frs. Fl. SFrs. 4.20 50.- 350.- 625.- 50.- 3.80 4.29 CONTENTS I. - General Situation II. - The Amendment of the Act of Pledge Page 7 8 III. - Resources of the High Authority and their Utilization 9 IV. Employment of the Proceeds of the Levy V. - Review of Loan and Credit Operation VI. - Guarantee Operations · VII. - Payments for Readaptation VIII. - Financing of Research IX. - Outlook ANNEXES: Report on the Perequation Levy Balance-Sheet as of December 31, 1956 10 12 18 18 19 20 21 22 LUXEMBOURG, MARCH IS, 1957 The present Financial Report is the second report of this type and covers the calender year 1956, i. e. the fourth year of the High Authority's activity. I. GENERAL SITUATION The general economic expansion in the countries of Western Europe that characterized the situation in the preceding year has continued also in 1956. This expansion had several common aspects for the six countries of the Euro- pean Coal and Steel Community; the d

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