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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.
German refugees from the east in Berlin in 1945. The fundamental reason for the quick economic recovery of West Germany can be found in the ordoliberal growth model. Germany had a skilled workforce and a high technological level in 1946, but its capital stock had largely been destroyed during and after the war.
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 ...
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 ...
The British Ministry of Economic Warfare immediately began an economic blockade of Germany. [106] At the outset, Britain realized that this blockade would be less effective than their blockade of Germany in World War I because of current German allies Italy and the Soviet Union. [106]
Morgenthau's proposal for the partition of Germany from his 1945 book Germany is Our Problem. The Morgenthau Plan was a proposal to weaken Germany following World War II by eliminating its arms industry and removing or destroying other key industries basic to military strength.
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.
The German–Soviet Economic Agreement of 12 October 1925 formed the contractual basis for trade relations with the Soviet Union. In addition to the normal exchange of goods, German exports to the Soviet Union from the very beginning utilized a system negotiated by the Soviet Trade Mission in Berlin by which the Soviet Union was granted credits for the financing of additional orders in Germany ...