The Truman Doctrine and the Marshall Plan. The first step was the “Truman Doctrine” of March , which reflected the combativeness of President Harry. The Marshall Plan (officially the European Recovery Program, ERP) was an American initiative to aid Western Europe, in which the United States gave over $12 billion (nearly $ billion in US dollars) in economic assistance to help rebuild Western European economies after the end of World War II.‎Marshall's speech · ‎Rejection by the Soviets · ‎Areas without the Plan · ‎Opinion. Page 1. Marshall Plan – A German View" by Susan Stern at the Wayback Machine (archived July 9, ).


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Marshall Plan - HISTORY

In the second place, the Labour Cabinet attempted to accommodate the costs of the world role and the expensive new welfare state by severely restricting capital investment at home. This of course served to handicap the much-needed modernisation of Britain's obsolete industrial system, and the country's clapped-out roads, railways and telecommunications.

Top Marshall Aid The dream of Britain as a global power also included the 'invisible empire' of the Marshall plan 1947 Area, to which Britain chose to marshall plan 1947 the banker.


This was despite the fact that her reserves of gold and dollars were well known in Whitehall to be far too scanty for this role. By the end ofthe American dollar marshall plan 1947 had already been largely spent, but the gulf still remained between the cost of Britain's self-inflicted global commitments marshall plan 1947 her inadequate earnings from exports.

Without another huge dollar handout, Britain would have to marshall plan 1947 up all her global strategic commitments, as well as her role as the banker to the Sterling Area, and accept that she was now marshall plan 1947 a second-class power. For Britain herself, the offer of the Marshall Aid dollars presented a last chance to modernise herself as an industrial power before her old trade rivals could recover from defeat and occupation.

BBC - History - British History in depth: The Wasting of Britain's Marshall Aid

Instead, all the illusions and follies of post-war British policy now reached their climax in the wasting of Britain's Marshall Aid. The French and German tenders for Marshall plan 1947 Aid resemble today's four-year business plans, being detailed technocratic strategies which give clear priority to investment in reconstructing industry and infrastructure.

However, the British tender, originally drafted by a senior Treasury civil servant, resembled an Oxbridge economist's prolix prize-essay - with a tour of the world's economic horizon and Britain's place marshall plan 1947 it.

In the words of Sir Stafford Cripps, Labour Chancellor of the Exchequer, it was a 'general statement' rather than a set of 'detailed proposals'. Certainly it amounted to nothing like marshall plan 1947 action-plan with a clearly stated strategic objective.

Top Overriding needs According to Whitehall documentation of the time, Britain's 'overriding need' in regard to the Marshall Aid was to keep up the Bank of England's reserves marshall plan 1947 gold and dollars, so that Britain could go on acting as banker to the Sterling Area.

The Wasting of Britain's Marshall Aid

The Soviets early on withdrew from participation in the plan, however, and were soon followed by the other eastern European nations under their influence. This left the following countries to participate in the plan: Direct grants marshall plan 1947 for the vast majority of the aid, with the remainder in the form of loans.

To coordinate the European participation, 16 countries, led by the United Kingdom and France, established the Committee of European Economic Cooperation to suggest a four-year recovery program. In all, Great Britain received roughly one-quarter of the total aid provided under the Marshall Plan, while France was given less than one fifth of the funds.

Impact of the Marshall Plan Interestingly, in the marshall plan 1947 since its implementation, the true economic benefit of the Marshall Plan has been the subject of much debate. Indeed, reports at the time suggest that, by the time the plan took effect, Western Europe was already well on the road to recovery.

marshall plan 1947

Marshall Plan

And, despite the significant investment on the part of the United States, the funds provided under the Marshall Plan accounted for less than 3 percent of the combined national incomes of the countries that received them.

This led to relatively modest growth of GDP in these countries during the four-year period the plan was in effect. Political Legacy of the Marshall Plan Politically, however, the legacy of the Marshall Plan arguably tells a different story. The Soviet Union was invited with the understanding that it would likely refuse.

The states of the future Eastern Bloc were also approached, and Czechoslovakia and Poland agreed to attend. In one of the clearest signs and marshall plan 1947 of tight Soviet control and domination over the region, Jan Masarykthe foreign minister of Czechoslovakia, was summoned to Moscow and berated by Stalin for considering Czechoslovakia's possible involvement with and joining of the Marshall Plan.

The other Eastern Bloc states marshall plan 1947 rejected the offer. The Soviet Union's "alternative" to the Marshall plan, which was purported to involve Soviet subsidies and trade with western Europe, became known as the Molotov Planand later, the Comecon.

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