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The Marshall Plan grants were provided at a rate that was not much higher in terms of flow than the previous UNRRA aid and represented less than 3% of the combined national income of the recipient countries between 1948 and 1951, [121] which would mean an increase in GDP growth of only 0.3%. [7]
The Economic Cooperation Administration (ECA) was a U.S. government agency set up in 1948 to administer the Marshall Plan. It reported to both the State Department and the Department of Commerce. The agency's first head was Paul G. Hoffman, a former leader of car manufacturer Studebaker; he was succeeded by William Chapman Foster in 1950. [1]
In May 1950, the French proposed pooling the markets for coal and steel of France, Germany, and other European countries wanting to participate. [ 2 ] : 354 French Foreign Minister Schuman's plan was "an entirely different approach" to the coal and steel problem, as it involved treating the Germans as equals, and with the right to negotiate on ...
Marshall Plan expenditures by country. The Marshall Plan was launched by the United States in 1947–48 to replace numerous ad hoc loan and grant programs, with a unified, long-range plan to help restore the European economy, modernize it, remove internal tariffs and barriers, and encourage European collaboration. It was funded by the ...
The original can be viewed here: Blank political map of Europe EU27 iso3166-1 code.svg: . Modifications made by Miraceti . This file is licensed under the Creative Commons Attribution-Share Alike 3.0 Unported license.
George C. Marshall. On 5 June 1947, George C. Marshall, at the time Secretary of State of the United States of America, gave an address at Harvard University in Cambridge, Massachusetts, where he proposed a plan to aid European recovery after the events of World War II, in the form of financial and economic assistance from the United States.
Further, the U.S. Marshall Plan (the European Recovery Plan) was aimed at reviving the economies of western Europe, including west Germany. To address French concerns, the International Authority for the Ruhr (IAR) was announced at the London Six-Power Conference in June 1948 as part of the plan to establish the Federal Republic of Germany. [10]
A 1950 poster for the Marshall Plan displaying national flags of European countries, including one for Trieste with a blue background (the United Nations' official colour) At the end of World War I in 1918 and the dissolution of Austria-Hungary , Kingdom of Italy annexed Trieste, Istria and part of modern-day western Slovenia , establishing the ...