european payments union: oecd historical exhibit

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Page 1: European Payments Union: OECD Historical Exhibit

OECD Library & Archives

Historical Exhibit _____________________________________________________________________

OEEC and Monetary Cooperation in Europe’s Post-war Recovery

©Marshall Plan Foundation/OEEC-OECD/OCDE

Page 2: European Payments Union: OECD Historical Exhibit

EUROPEAN PAYMENTS UNION (EPU) UNION EUROPEENNE DE PAIEMENTS (UEP)

©OECD

Page 3: European Payments Union: OECD Historical Exhibit

Alexander Verdeles, Head of the Delegation of Greece to the OEEC Signing of the EPU Agreement, Paris, 19 September 1950

© OECD/OCDE

Quoting an OEEC press release on the EPU…Citant un communiqué de presse de l’OECE concernant l’UEP…

Page 4: European Payments Union: OECD Historical Exhibit

Attilio Cattani, Head of the Delegation of Italy to the OEECSigning of the EPU Agreement, Paris, 19 September 1950

© OECD/OCDE

“If four people play bridge during an evening… « Si quatre personnes jouent ensemble au bridge pendant toute une soirée…

Page 5: European Payments Union: OECD Historical Exhibit

C.C. Cremin, Head of the Delegation of Ireland to the OEECSigning of the EPU Agreement, Paris, 19 September 1950

© OECD/OCDE

…they may settle their debts at the end of each rubber....elle peuvent régler leurs dettes à la fin de chaque partie.

Page 6: European Payments Union: OECD Historical Exhibit

Erik de Sydow, Head of the Delegation of Sweden to the OEECSigning of the EPU Agreement, Paris, 19 September 1950

© OECD/OCDE

But if they change partners continually…Mais si elles changent de partenaire continuellement…

Page 7: European Payments Union: OECD Historical Exhibit

Eyvind Bates, Member of the Delegation of Denmark to the OEECSigning of the EPU Agreement, Paris, 19 September 1950

© OECD/OCDE

…they may prefer to keep the score on a piece of paper……elles peuvent juger plus commode de tenir les comptes sur un bout de papier…

Page 8: European Payments Union: OECD Historical Exhibit

Frei de Andrade, Head of the Delegation of Portugal to the OEECSigning of the EPU Agreement, Paris, 19 September 1950

© OECD/OCDE

…and only settle at the end of the evening.…et de ne les solder qu’en fin de soirée.

Page 9: European Payments Union: OECD Historical Exhibit

H. Ellis Rees, Head of the Delegation of the United Kingdom to the OEECSigning of the EPU Agreement, Paris, 19 September 1950

© OECD/OCDE

Only the players who are net losers will play…Seuls ceux qui finissent perdants auront à payer…

Page 10: European Payments Union: OECD Historical Exhibit

Herbert Prack, President and Head of the Delegation of Austria to the OEECSigning of the EPU Agreement, Paris, 19 September 1950

© OECD/OCDE

…only the net winners will receive.…seuls ceux qui finissent gagnants percevront quelque chose. 

Page 11: European Payments Union: OECD Historical Exhibit

Karl von Mangoldt, Head of the Delegation of Germany to the OEECSigning of the EPU Agreement, Paris, 19 September 1950

© OECD/OCDE

The man who has lost as much as he has won will neither pay nor receive.Celui qui perd autant qu’il gagne ne paiera ni ne recevra rien.

Page 12: European Payments Union: OECD Historical Exhibit

Nicolas Hommel, Head of the Delegation of Luxembourg to the OEECSigning of the EPU Agreement, Paris, 19 September 1950

© OECD/OCDE

The first method, settlement at the end of each rubber, is like a bilateral payments system.La première méthode, solder les comptes à la fin de chaque partie, est un système de paiement bilatéral.

Page 13: European Payments Union: OECD Historical Exhibit

Petur Benediktsson, Head of the Delegation of Iceland to the OEECSigning of the EPU Agreement, Paris, 19 September 1950

© OECD/OCDE

Settlement between net winners and net losers is like a multilateral system.”Solder les comptes entre gagnants et perdants est comme un système multilatéral. »

Page 14: European Payments Union: OECD Historical Exhibit

Torfini Offedal, Member of the Delegation of Norway to the OEECSigning of the EPU Agreement, Paris, 19 September 1950

© OECD/OCDE

OEEC (1950), Press Release, Press D (50) 14, OEEC, Paris.OECE (1950), Communiqué de presse, Press D (50) 14, OECE, Paris.

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OECD Library & Archives _____________________________________________________________________

Further information about knowledge and information management related work at the OECD can be found at

www.oecd.org/libraryandarchives

©Marshall Plan Foundation/OEEC-OECD/OCDE