The Marshall Plan was a humanitarian aid program offered by the United States of America to European countries from 1948 to 1951.
It was carried out through technical and financial assistance to help the recovery of war-torn European countries. It also aimed to prevent certain countries from falling under the influence of socialism.
For that reason, it was a way of stabilizing capitalism in Western Europe, as well as ensuring the integration of European countries.
The Marshall Plan (European Recovery Program) is named after General George Catlett Marshall (1880-1959), US Secretary of State during the government of Henry Truman (1884-1972). For this, he would receive the Nobel Peace Prize in 1953.
Historical context of the Marshall Plan
After the end of the Second World War in 1945, the European countries that participated in the conflict were ruined and the death toll had been appalling.
European reconstruction would hardly succeed without international economic assistance.
For this reason, in July 1947, the main members involved in the confrontation gathered to participate in the European Recovery Program. This had been inspired by the plan proposed by economist John M. Keynes in 1944.
In 1948, to coordinate the distribution of Marshall Plan funds, the Organization for European Economic Cooperation (OEEC) was created.
The first countries to receive the financial aid were Greece and Turkey. In these countries, the socialists had armed themselves and were fighting for power.
The United States did not care that two such important countries, from a geopolitical point of view, should be influenced by the Soviet Union.
Ultimately, the program lasted until 1951 and ensured Europe's economic recovery until the 1960s.
Objectives of the Marshall Plan
The Marshall Plan was an American strategy to combat the Soviet advance at the beginning of the Cold War.
In this way, the plan is part of the set of measures to combat the advance of communism that defended the Truman Doctrine. Despite being invited, no country under Soviet control participated in the execution or received assistance from the Marshall Plan.
Therefore, it is important to emphasize that the non-intervention of the US could negatively affect its own economy. After all, with the end of the Second World War, it was essential to maintain Europe's ability to honor its debts and maintain its imports.
Characteristics of the Marshall Plan
The main feature of the program was the granting of low interest loans to European countries that accepted the conditions imposed by the North Americans.
These consisted of buying primarily from the US, implementing a policy of monetary stabilization and anti-inflation, and promoting a policy of intra-European integration and cooperation.
As a result, some 18 billion dollars (approximately US$ 135 billion today) were awarded, distributed by the “Administration of Economic Cooperation”, an agency created by the US to carry out this program.
The countries that received the most aid were the United Kingdom (3.2 billion), France (2.7 billion), Italy (1.5 billion) and Germany (1.4 billion).
This aid also came through technical assistance from experts in North American technology, food, fuel, industrialized products, vehicles, factory machinery, fertilizers, etc.
Results of the Marshall Plan
The Marshall Plan marks the end of the US isolationist tradition, brought Europe under US influence and guaranteed US access to European markets.
In this way, European countries opened their economies to US investment, reformed their financial systems, recovered their industrial production and consumption levels.
The result of the program was positive, as the economy of Western Europe returned to prosperity for the next two decades.
For the US, the benefits were even greater, as its exports grew, as did its area of influence in Europe.
Still within the context of the Cold War, the US promoted the creation of NATO - North Atlantic Treaty Organization, a military alliance that brought together several western countries in the northern hemisphere.