Office of the Historian

308. Memorandum of Conversation0

USDel/MC–18
Copenhagen, May 6, 1958, 9:45 a.m.

UNITED STATES DELEGATION TO THE 21st MINISTERIAL MEETING OF THE NORTH ATLANTIC COUNCIL Copenhagen, Denmark, May 5–7, 1958

PARTICIPANTS

  • United States
    • The Secretary
    • Ambassador Burgess
    • Mr. Porter
  • Turkey
    • Mr. Zorlu, Foreign Minister
    • Mr. Sarper, Amb. to NATO
    • Mr. Esenbel, Sec. Gen of Foreign Office

SUBJECT

  • Turkish Financial Difficulties

Mr. Zorlu said that Turkish officials are meeting with the IMF on this subject, having taken our advice in the matter. He said it was now essential to get U.S. support to make matters go quickly. Turkey was having trouble internally as rumors of an impending devaluation had begun circulating. The Prime Minister had spoken on this subject and the situation was momentarily stable but the market remained nervous.

Ambassador Burgess said that the EPU and the Fund are working together on this problem, which is a difficult one. It is enormously important, the Ambassador continued, to have European countries working together on it. Mr. Zorlu agreed but added that U.S. backing was needed as well as that of Germany. The Secretary made no comment on this.

  1. Source: Department of State, Secretary’s Memoranda of Conversation: Lot 64 D 199. Secret. Drafted by Porter. The meeting was held at the Christiansborg Palace.↩