Definition of Marshall Plan

The United States and the Soviet Union were two of the victorious nations of World War II, and both established strategic alliance zones across the globe. In parallel the continent Europe was devastated and facing a deep economic crisis.

In this context, the United States launched an economic reconstruction plan aimed at the worst-off countries after the war. The Marshall Plan was approved in 1948 under President Truman and led by George Marshall.

Benefits of the Marshall Plan

Nations such as Greece, Turkey, France, West Germany and Italy received advantageous financial loans from the coffers of the United States. At the same time, other types of measures were activated, such as investments, commercial advantages and improvements in the European industrial fabric.

With this strategy It was intended to increase trade relations between the United States and Europe. In a complementary manner, the large European companies agreed to trade with US companies.

The Marshal Plan was carried out mainly in loans at very low interest rates, which allowed the beneficiary countries to face a new stage of global recovery, but above all economic.

The North American initiative was reflected in all sectors of the economy European. For example, the United States financed many factories, especially in the automobile sector (the Renault factories in France and Fiat in Italy stand out). The set of measures adopted was very positive for the beneficiary countries.

The other side of the Marshall Plan

The United States and the Soviet Union were the two rival great powers of the day. Each one wanted to impose its economic and social model; a capitalist and consumerist model on the part of the Americans and a model of planning centralized and state-owned media production by the Soviets. This implied that the two nations were suspicious of each other: the USSR feared the expansion of the capitalism and the United States observed that in the European continent the seed of the communism.

Consequently, the plan was also a political strategy to curb the spread of communism.

Although Spain did not participate directly in the Second World War, it was in a deep economic crisis. However, she could not benefit from American aid because at that time it was not a democratic country. By this he means that the Marshall Plan also required some political requirements.

Even today it is debate on the effectiveness of the American strategy in Europe, but most historians agree on its fundamental role in the economic recovery of Western Europe.

Photos: Fotolia - Evilinside / HitToon