Bilderberg Meetings Conference Report 1965

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CONFIDENTIAL

NOT POR PUBUOAT!OM

ErrHl!R IN WHOLE OR IN PART

BILDERBERG MEETINGS

VILLA D'ESTE

CONFERENCE

2-4April 1965

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BILDERBERG MEETINGS

VILLA D'ESTE

CONFERENCE

2-4April I 965



L I S T O F P A R T I C I P A N T S

C H A I R M A N :

H.R.H. TH E PRINCE OF TH E NETHERLANDS

H O N O R A R Y S E C R E T A R Y G E N E R A L F O R E U R O P E :

ERNST H . VAN DER BEUGEL

H O N O R A R Y S E C R E T A R Y G E N E R A L F O R T H E U N I T ED S T A T E S :

JOSEPH E. j OHNSON

H O N O R A R Y T R E A S U R ER :

J . MEYNEN

D E P U T Y S E C R E T A R Y G E N E R A L F O R E U R O P E :

ARNOLD T . LAMPING

AGNELLI, GIOVANNI

ANSIAUX, HUBERT

ARL!OTIS, CHARLES c.ATHANAssIADEs, BoDossAKI

BALL, GEORGE w.BARZEL, RAINER

BAUMEL, jACQ.UES

BAUMGARTNER, WILFRID S.

BENED!KTSSON, BJARNI

BENNETT, SI R FREDERIC

BERG, FRITZ

BIRGI, M . NURI

BLAISSE, PIETER A.

BRADEMAS, j OHNBREWSTER, KINGMAN

BROGGINI, GERARDO

BRosro, MANLIO

** *ITALY

BELGIUM

GREECE

GREECE

UNITED STATES

GERMANY

FRANCE

FRANCE

ICELAND

UNITED KINGDOM

GERMANY

TURKEY

NETHERLANDS

UNITED STATES

UNITED STATES

SWITZERLAND

INTERNATIONAL

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.

BRUCE, DAVID K . E. UNITED STATESPETERSEN, HOWARD UNITED STATES

CARLI, GuI Do ITALYPETRILLI, GIUSEPPE ITALY

CEFIS, EUGENIO ITALYPIPINELIS, p ANAYOTIS GREECE

COLLADO, EMILIO G . UNITED STATESPIRELLI, LEOPOLDO ITALY

CooK, DONALD C . UNITED STATESPoRTiscH, H u G o AUSTRIA

DEAN, ARTHUR H. UNITED STATESREINHARDT, EBERHARD SWITZERLAND

DEUTSCH, JOHN J. CANADA RESTON, JAMES UNITED STATES

DONOVAN, HEDLEY UNITED STATESREUSS, HENRY UNIRED STATES

EczACIBASI, NEJAT F . TURKEYROCKEFELLER, DAVID UNITED STATES

EDINBURGH, H.R.H. the P r ince Ph i l ip , Duke o f UNITED KINGDOMRoosA, RoBERT V . UNITED STATES

EMMINGER, 0TMAR GERMANYRUMOR, MARIANO ITALY

ERLER, FRITZ GER¥ANYSAMKALDEN, Iv o NETHERLANDS

GEDDES, REAY UNITED KINGDOMSAMUELSON, PAUL A. UNITED STATES

GRIFFIN, ANTHONY G . s. CANADASAUVE, MAURICE CANADA

HEALEY, DENIS UNITED KINGDOMSCHILLER, KARL GERMANY

HEINZ II , HENRY J. UNITED STATESSCHMIDT, AnoLPH W . UNITED STATES

H0EGH, LEIF NORWAYSCHWEITZER, PIERRE-PAUL INTERNATIONAL

HuvELIN, PAUL FRANCE SNOY ET D'OPPUERs, BARON BELGIUM

KNUDTZON, HARALD DENMARKSTONE, SHEPARD UNITED STATES

KosTER, HENRI J. DE NETHERLANDSTAVERNE, DICK UNITED KINGDOM

KRISTENSEN, THORKIL INTERNATIONALTERKELSEN, TERKEL M . DENMARK

LA MALFA, UGO ITAI.'.YVITTORELLI, PAOLO ITALY

LECANUET,JEAN FRANCEWALLENBERG, MARCUS SWEDEN

LENNEP, JONKHEER EMILE VAN INTERNATIONALWARBURG, SIEGMUND UNITED KINGDOM

LINDSAY, JoHN V . UNITED STATESWOLFF VON AMERONGEN, OTTO GERMANY

LOUDON, JONKHEER JOHN H. NETHERLANDS

LUNS, JOSEPH M . A. H. NETHERLANDSIN A T T E N D A N C E :

MALAGODI, GIOVANNI F. . ITALY H . R . H . PRINCESS BEATRIX NETHERLANDS

MARJOLIN, ROBERT E. INTERNATIONAL BRAAM HoucKGEEST, A . EGBERT VAN NETHERLANDS

MAUDLING, REGINALD UNITED KINGDOMCESI, MARCHESE JEAN GASPARE CITTADINI ITALY

McCLOY, JoHN J. UNITED STATESCHIUSANO, VrrTORINO ITALY

M c G n E E , GEORGE C. UNITED STATESRoY, BERTIE LE NETHERLANDS

McKINNON, NEIL CANADAVERNEDE, EDWIN NETHERLANDS

MELANDER, JOHAN A. NORWAY

MOUNTBATTEN OF BURMA, LORD UNITED KINGDOM

N0RGAARD, IVAR DENMARK

NYKOPP, JOHAN FINLAND

PALME, s. 0LOF J. SWEDEN

PEDINI, MARIO ITALY

PERKINS, JAMES A. UNITED STATES

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INTRODUCTION

The fourteenth Bilderberg Meeting was held at the Villa d'Este, near Como

(Italy) on 2, 3 and 4 April 1965 under the chairmanship of H.R.H. the

Prince of the Netherlands.

There were 87 participants representing the United States, Canada, fifteen

Western European countries as well as various international organisations,

and drawn from leaders in the field of politics (governments and parliaments),

business, journalism, public service (national and international), the liberal

professions, trade unions and employers' organisations.

In accordance with the rules adopted at each meeting, all participants

spoke in a purely personal capacity without in any way committing whatever

government or organisation they might belong to. In order to enable partici

pants to speak with the greatest possible frankness, the discussions were confi

dential with no representatives of the. press being admitted. A short communi

que, enumerating the items included in the Agenda, was issued to the Press

at the close of the conference.

Th e Agenda was as follows:

I. Monetary Co-operation in the Western World

II. The State of the Atlantic Alliance.

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MONETARY COOPERATION IN THE WESTERN

WORLD

The groundwork for the discussion of this item consisted of:

- a memorandum drawn up by a European participant, which was distri

buted prior to the meeting;

- an oral statement made by an American participant.

* * *The European rapporteur began his memorandum by re-stating the two

main objectives of internatio nal monetary policy since the second world war:

convertibility of national currencies and liberalisation and non-discriminationin international trade and payments, the attainment of which by about I 958

had in turn given rise to two major problems:

1. the problem of maintaining equilibrium in the international payments

of the major countries;

2. the functioning of the international monetary system.

I. TH E PROBLEM OF EQ,UILIBRIUM IN INTERNATIONAL PAYMENTS

The rapporteur pointed out that the problem was not a new one but the

views on how to maintain payments equilibrium had changed with the passage

of time. Under the gold standard the maintenance of payments equilibrium

had priority over other policy objectives, such as high business activity andprice stability, and no view was held as to inflation or deflation. It was the

severe depression of the thirties which changed these objectives. Governments

strove to reduce internal unemployment and at the same time to soften the

external effects of their internal policies by means of stringent regimentation

such as exchange controls, import restrictions, etc ...

The post-war system as mapped out in 1944 at Bretton Woods, when the

International Monetary Fund was set up, had attempted to achieve a com

promise between these two extremes, the idea being to recreate an inter

national division of labour, characterised by increased international trade,

while at the same time ensuring the attainment of the major objective of full

employment. International balance was to be assisted by control over capital

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Bilderberg Meetings Conference Report 1965

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