Search results
Results from the WOW.Com Content Network
The Marshall Plan was only extended to Western Germany after it was realized the suppression of its economy was holding back the recovery of other European countries and was not the main force behind the Wirtschaftswunder. [17] [18] However, it likely greatly contributed to Germany's overall economic recovery. Furthermore, often overlooked is ...
Economic recovery in the East was much slower than in the West, resulting in the formation of the shortage economies and a gap in wealth between East and West. Finland, which the Soviets forbade from joining the Marshall Plan and was required to give large reparations to the Soviets, saw its economy recover to pre-war levels in 1947.
This type of action to help the German economy had been prohibited by the directive. In 1947, the Marshall Plan, initially known as the "European Recovery Program" was initiated. In the years 1947–1952, some $13 billion of economic and technical assistance – equivalent to around $140 billion in 2017 – were allocated to Western Europe.
The economic reforms and the new West German system received powerful support from a number of sources: investment funds under the European Recovery Program, more commonly known as the Marshall Plan; the stimulus to German industry provided by the diversion of other Western resources for Korean War production; and the German readiness to work ...
Worries about the sluggish recovery of the European economy (which before the war was driven by the German industrial base) and growing Soviet influence amongst a German population subject to food shortages and economic misery, caused the Joint Chiefs of Staff, and Generals Clay and Marshall to start lobbying the Truman administration for a ...
Germany imported 55% of its natural gas supply from Russia when the country invaded Ukraine in February 2022. Russia was also Germany’s primary source of oil and coal imports.
The German government feared that this might provoke immediate war with France at the time, but it did not. Still, the fear that war might come before Germany was prepared for it served to create a sense of urgency and reinforced the rearmament program. [31] The army and the navy prepared to quickly expand their capacity and manpower.
Furthermore, in 1942, the Greek Central Bank was forced by the occupying Nazi regime to lend 476 million Reichsmarks at 0% interest to Nazi Germany. [56] After the war, Greece received its share of the reparations paid by Germany to the Allies as part of the proceedings of the Paris Reparation Treaty of 1946 which the Inter-Allied Reparations ...