apr 3, 1948 - The Marshall Plan

Description:

- technically the European Recovery Program
- brainchild of US Secretary of State George Marshall
- Marshall realised the desperation of Europe (widespread poverty, destruction, chaos)
- Europe had ideal conditions for communist revolutions
- a strong European economy was beneficial to the US economy
- partly out of the goodness of their hearts
- ultimately provided US$15 billion in humanitarian aid to Europe (mostly to Britain and France)
- also offered money to the 'Soviet' countries
- rejected on their behalf by Molotov as "dollar imperialism"; claimed it was a direct attempt by the US to extend their sphere of influence

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