Blueprints
Bissell Plan for a ‘European Clearing Union (ECU)’
In the wake of Paul G. Hoffman’s speech for the Council of the Organisation for European Economic Cooperation (OEEC), several proposals for a new system of intra-European payments were advanced. The proposal by Richard M. Bissell on behalf of the Economic Cooperation Administration (ECA) aimed at full intra-European currency transferability before the end of the Marshall Plan, as well as the elimination of quantitative trade restrictions. Bissell wanted to pool European currencies into a European Clearing Union (ECU). It was first presented to the heads of delegation of the OEEC on 10 December 1949.
For the blueprint click here.
The blueprint is courtesy of the OECD republished here with permission. The original document can be found at the OECD Archives, Collection OEEC-241, TF-DI-356.