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Concept
Comecon
Summary
The Council for Mutual Economic Assistance (Сове́т Экономи́ческой Взаимопо́мощи, СЭВ; English abbreviation COMECON, CMEA, CEMA, or CAME) was an economic organization from 1949 to 1991 under the leadership of the Soviet Union that comprised the countries of the Eastern Bloc along with a number of socialist states elsewhere in the world.
The descriptive term was often applied to all multilateral activities involving members of the organization, rather than being restricted to the direct functions of Comecon and its organs. This usage was sometimes extended as well to bilateral relations among members because in the system of communist international economic relations, multilateral accords - typically of a general nature - tended to be implemented through a set of more detailed, bilateral agreements.
Comecon was the Eastern Bloc's response to the formation in Western Europe of the Marshall Plan and the OEEC, which later became the OECD.
The Comecon was founded in 1949 by the Soviet Union, Bulgaria, Czechoslovakia, Hungary, Poland, and Romania. The primary factors in Comecon's formation appear to have been Joseph Stalin's desire to cooperate and strengthen the international relationships at an economic level with the smaller states of Central Europe, and which were now, increasingly, cut off from their traditional markets and suppliers in the rest of Europe. Czechoslovakia, Hungary, and Poland had remained interested in Marshall aid despite the requirements for a convertible currency and market economies. These requirements, which would inevitably have resulted in stronger economic ties to free European markets than to the Soviet Union, were not acceptable to Stalin, who in July 1947, ordered these communist governments to pull out of the Paris Conference on the European Recovery Programme. This has been described as "the moment of truth" in the post-World War II division of Europe. According to the Soviet view the "Anglo-American bloc" and "American monopolists ...
Official source
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