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February 20, 1946 SECRET MEMORANDUM Re: Various Countries The following economic items have been gathered from today1s reading of the Secret Daily Summary and Weekly Review of the Economic Developments issued by Mr. Claytonfs office• These documents are marked •'Secret*, though some of the items are not, or do not remain, of a confidential nature. ITALY An agreement was signed on February 11th between the Italian Government and TWA setting up an Italo-American Co. for running the country1s civil aviation, subject to approval by the U.S. Combined Chiefs of Staff. TWA is to provide 40 percent of the capital, with the Italian Government and private companies providing the remainder. The agreement gives TWA exclusive rights of private air routes for a period of ten years. The British Ambassador called on Krik to tell him that a signing of the agreement was participate. The British Ambassador requsted that the signing be held up. Kirk told him that the agreement had already been signed,.but contained a clause for its modification on the basis of recommendations by the American Combined Chiefs of Staff. Private trade was restored on February 15th with all countries except Japan and Germany. HUNGARY The Hungarian officials have informed the American political adviser that they would welcome token cotton shipments to Hungary. They informed him that though present and prospective Soviet cotton supplies would be adequate to take care of Hungarian textile capacities, the Hungarian Government would v/eleome any American participation in the textile picture. It is expected that both the Soviet authorities and Hungarian communists are trying to block any U.S. cotton shipments. AUSTRIA The State Department has advised U.S. authorities in Austria that the State Department has recommended that the Eximbank be empowered to consider requests for assistance on the part of Austria. - 2 It was pointed out, however, that such requests would continue to be premature until other pending problems had been resolved, DENMARK The Danish Government is reported to be negotiating with the United Kingdom a loan of 150 million kroner to be made available in part to the Danes in the form of dollar credits* CZECHOSLOVAKIA The Czechoslovakian Government has refused to comply with the U.S. request for making available the texts of the trade agreements concluded by Czechoslovakia. Rifat tjLrana S E C R E T CC: Messrs. Martin Gaston Gauss Stambaugh Maffry Sherwood
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