Cambridge Encyclopedia » Cambridge Encyclopedia Vol. 49

Marshall Plan - Before the Marshall Plan, Early ideas, The speech, Rejection by the Soviets, Negotiations, Implementation, Expenditures, Effects

europe germany european west

The popular name for the European Recovery Program, a scheme for large-scale, medium-term US aid to war-ravaged Europe, announced in 1947 by US secretary of state, George Marshall. ‘Marshall Aid’ was rejected by the USSR and the Eastern bloc, but during 1948–50 it materially assisted W Europe's economic revival, particularly in West Germany. Reasons for US aid included the importance of the European market for US goods; US fears that communism would spread in Europe; and the integration of West Germany (a vital industrial nation and twice in one century a major aggressor) into Europe.

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