This newsletter contains eight articles by various authors. Peter Rogge’s article describes changes in Europe’s industrial structure in terms of historical changes, changes in the structure of industries, and changes in the structure between different countries. Max Kühne’s article describes the outlook on current world economic and monetary problems. It discusses inflation and the demise of the old monetary order, world inflation and floating rates, the recycling of oil money, and addresses hopes of averting a catastrophe. Andrew Boyd’s article discusses the failures and successes of the United Nations since its founding and concludes that despite the perception of failure, the UN has in fact accomplished a great deal. Allan J. MacEachen’s article describes Canadian policy towards Africa. Canada wishes to cultivate relations with Africa. The next article is an interview with Zambia’s Foreign Minister Vernon Mwaanga, who explained his objectives at the extraordinary session of the OAU’s Council of Ministers. The next article describes an exchange of editorial views between two newspapers, “The Chronicle” (Bulawayo, Rhodesia), and “Beeld” (Johannesburg, South Africa) on relations between Rhodesia and South Africa. Arnold Smith’s article is the section of the Commonwealth Secretary-General’s Report to the Commonwealth Heads of Government, from April 1973 to March 1975, which concerns the Commonwealth and Rhodesia and also reports on the meeting of the Commonwealth Sanctions Committee. The next article concerns the Commonwealth Heads of Government meeting in Kingston, Jamaica, which ended on 6 May 1975. Southern Africa questions were among those discussed. The last article describes the situation in Cyprus after the UN Security Council passed a resolution on Cyprus. It calls for resuming inter-communal talks between the Greek and Turkish communities under the auspices of the UN Secretary-General, and coincides with a renewed American peace effort.