Hoffman, the Economic Cooperation Administration (ECA), a specially created bureau, distributed over the next four years some $13 billion worth of economic aid, helping to restore industrial and agricultural production, establish financial stability, and expand trade. This left the following countries to participate in the plan: Austria, Belgium, Denmark, France, Greece, Iceland, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Sweden, Switzerland, Turkey, the United Kingdom, and western Germany. The Soviets early on withdrew from participation in the plan, however, and were soon followed by the other eastern European nations under their influence. Aid was originally offered to almost all the European countries, including those under military occupation by the Soviet Union. Congress authorized the establishment of the European Recovery Program, which was signed into law by U.S. On the basis of a unified plan for western European economic reconstruction presented by a committee representing 16 countries, the U.S. The truth of the matter is that Europe’s requirements for the next three or four years of foreign food and other essential products-principally from America-are so much greater than her present ability to pay that she must have substantial additional help or face economic, social, and political deterioration of a very grave character.
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