Luxembourg Compromise

Luxembourg Compromise in Global Commerce Policy

In this regard, a definition of this issue is as follows: the resolution in January 1966 of a crisis within the European Economic Community which had held up negotiations in the Kennedy Round for about six months. The entries on trade policy are here. It had as its immediate cause the failure of France and Germany to agree on how the Common Agricultural Policy should be financed. The larger issue, however, appears to have been France’s intention to seek a change in the envisaged transition from unanimous decisions to majority voting which would have undermined its ability to use its veto power. The compromise consisted of agreement to disagree on the voting question and to agree that agricultural pricing would be looked at again in the context of the Kennedy Round agricultural negotiations.[1]

Luxembourg Compromisein the wold Encyclopedia

For an introductory overview on international trade policy, see this entry.

Resources

Notes and References

1. Dictionary of Trade Policy, “Luxembourg Compromise” entry (OAS)

See Also