Page:United States Statutes at Large Volume 62 Part 2.djvu/1184

 2473 62 STAT.] LUXEMBOURG-ECONOMIC COOPERATION-JULY 3, 1948 languages, both texts authentic, en langues frangaise et anglaise, this third day of July 1948. les deux textes faisant egalement foi. GEORGE PLATT WALLER P. DUPONG ANNEX Interpretative Notes 1. It is understood that "The Economic Cooperation Act of 1948" as used in the Agreement means Title I of Public Law 472-80th Congress. 2. It is understood that the requirements of paragraph 1 (a) of Article II, relating to the adoption of measures for the efficient use of resources, would include, with respect to commod- ities furnished under this Agre- ment, effective measures for safe- guarding such commodities and for preventing their diversion to markets or channels of trade which are illegal or irregular in Luxembourg. 3. It is understood that it lies within the discretion of the Gov- ernment of Luxembourg to de- termine the means by which the assets specified in paragraph 1 (a) (3) of Article II are put into appropriate use in furtherance of the joint program for European recovery. 4. It is understood that the obligation under paragraph 1 (c) of Article II to balance the budget as soon as practicable would not preclude deficits over a short period but would mean a budget- ary policy involving the balancing of the budget in the long run. 5. It is understood that the business practices and business ANNEXE Notes interpr6tatives 1. I1 est entendu que "La Loi de Cooperation Economique de 1948" Alaquelle se r6fere l'Accord, est le Titre I de la Public Law 472, 80e Congres. 2. Il est entendu que les disposi- tions du paragraphe I (a) de l'Article II sur l'adoption des mesures relatives A un emploi efficace des ressources comporte- raient, en ce qui concerne les produits fournis aux termes de cet Accord, des mesures efficaces des- tin6es A assurer la sauvegarde de ces produits et A empAcher leur d6tournement vers des marches ou des circuits commerciaux il- licites ou irreguliers au Luxembourg. 3. Il est entendu qu'il est laiss6 Al'appr6ciation du Gouvernement du Luxembourg de determiner les moyens par lesquels les avoirs mentionnes au paragraphe I )a) (3) de l'Article II seront l'objet d'un usage appropri6 Al'execution du programme commun de re- levement europeen. 4. nl est entendu que l'obliga- tion figurant au paragraphe I (c) de l'Article II d'equilibrer le budget aussitot que possible, n'ex- cluerait pas des deficits pendant une courte periode, mais sig- nifierait une politique budgetaire impliquant, A longue echeance, l'equilibre du budget. 5. In est entendu que les pratiques commerciales et les ar- 62 Stat., Pt. 1,p. 137. Ante, p. 2466. Ante, p. 2466. Po,. p. 247.

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