289:, the official Communist Party organ, denouncing the proposal as an attempt by the United States to interfere in the internal affairs of sovereign nations. Five days later, however, the Soviet press indicated that the Soviet leadership was interested in further details of the proposed aid plan, and on 23 June 1947, Foreign Minister Molotov accepted an invitation to meet with France and Great Britain. After the breakdown of the Big Three Conference and the departure of Molotov from Paris, the Soviet Union persuaded its satellite countries (Poland, Hungary, Romania, Bulgaria, Yugoslavia, and Czechoslovakia) and neighboring Finland to refuse the invitation to join the European co-operation committee.
168:
338:
normalcy to the
European economy by 1951, and therefore called for a four-year effort of increasing productivity of both the agricultural and industrial sectors, which had suffered significant war damage, estimated to be between 20 and 85 percent, depending on country and sector. The report provided the estimated total cost of the program to be US$ 22.4 billion (306 billion in 2024), with the first-year cost for 1948 to be US$ 8.0 billion (109 billion in 2024). The report further broke down this amount by estimating that US$ 3.1 billion (42.3 billion in 2024) would be sought from the
223:
247:
France and Great
Britain announced their intention to consider the Marshall Plan further, with or without participation of the Soviet Union. The foreign ministers of the two countries therefore issued a formal invitation on 3 July 1947 to 22 European nations to participate in a "committee of co-operation" to detail the requirements and production capabilities of Europe, with 16 nations accepting this invitation by 10 July.
301:, or ERP) counted 16 European participating nations: Austria, Belgium, Denmark (with the Faroe Isles and Greenland), France, Greece, Iceland, Ireland, Italy (with San Marino), Luxembourg, Netherlands, Norway, Portugal (with Madeira and the Azores), Sweden, Switzerland (with Liechtenstein), Turkey, and the United Kingdom. On 12 July 1947, 48 diplomats representing those 16 nations started meetings at
199:, in the form of financial and economic assistance from the United States. This assistance, however, was dependent on the co-operation of the European nations who would be the recipients of this aid. The countries involved would need to agree on their requirements, as well as to their own contributions to European recovery.
337:
The report of the CEEC addressed the details on the
European aid and recovery program in terms of internal production efforts, European economic, financial, and monetary stability, joint economic co-operation, import needs, and balance of payments. The goal of the program was to achieve the return of
324:
During the deliberations of the committee, the CEEC agreed to several conditions laid out by the United States since the beginning of the conference, one of which was the formation of a continuing organization after the conclusion of the committee meetings. The CEEC would meet again on 15 March 1948
212:
It would be neither fitting nor efficacious for this
Government to undertake to draw up unilaterally a program designed to place Europe on its feet economically. This is the business of the Europeans. The initiative, I think, must come from Europe. The role of this country should consist of friendly
203:
It is already evident that before the United States
Government can proceed much further in its efforts to alleviate the situation and help start the European world on its way to recovery, there must be some agreement among the countries of Europe as to the requirements of the situation and the part
246:
The "Big Three
Conference" began on 27 June 1947, involving France, Great Britain, and the Soviet Union. This meeting soon revealed basic disagreements between France and Great Britain on one side, and the Soviet Union on the other, leading to the breakdown of discussions on 2 July. That same day,
354:
On 19 December 1947, President Truman requested appropriations from
Congress in the amount of US$ 17 billion (232 billion in 2024) for the period from 1 April 1948 to 30 June 1952, with US$ 6.8 billion (92.8 billion in 2024) to be appropriated for the period from 1 April 1948 to 30 June
350:
A report by the
Harriman Committee, delivered to President Truman on 7 November 1947, estimated that the United States would only be able to export and deliver goods to Europe in the amount of US$ 5.75 billion (78.5 billion in 2024) for 1948, and that the total amount of goods, services, and
320:
In the initial draft plan for the activities of the committee, the final report due date was set for 1 September 1947. The general report of the
Committee of European Economic Co-operation, labeled Volume I, was finalized and sent to the United States on 22 September 1947. Volume II, containing
238:
had been contacted to gauge whether they were interested in participating in this meeting. On 17 June 1947, the two foreign ministers, along with subject matter experts, commenced a meeting to discuss tariffs and trade barriers, monetary reforms, and aid priorities. That same day, the
British
154:
From the viewpoint of today, one of the most tangible result from the activities of the CEEC was the establishment in 1948 of the Organisation for European Economic Co-operation (OEEC) to administer the Marshall plan from the European perspective. The OEEC is the precursor to today's
325:
to plan a permanent organization to take on the tasks of jointly administering this aid and recovery program. This body would turn into the Organisation for European Economic Co-operation (OEEC) on 16 April 1948, which was the direct precursor of today's
452:
312:
Parallel to the efforts of the 16 European nations on the subject of the Marshall Plan, the Soviet Union pushed ahead with efforts to form trade pacts and bilateral agreements with its satellite states. These agreements came to be called the
213:
aid in the drafting of a European program and of later support of such a program so far as it may be practical for us to do so. The program should be a joint one, agreed to by a number, if not all, European nations.
243:
to discuss the Marshall Plan with the Soviet leadership. On 19 June, the meeting in Paris was broken off, and a formal invitation to participate in further discussions was sent to Molotov.
305:
in Paris, France, with an invitation to the Soviet Union and her satellite states to join the conference in progress. The Committee of European Economic Co-operation was also known as the
1029:
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In addition, Marshall made it clear that the United States insisted that this program for Europe must be drafted and put into action by joint European agreement.
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credits supplied by the USA over the four-year period would amount to between US$ 12 and US$ 17 billion (between 164 billion and 232 billion in 2024).
1069:
853:
1039:
972:
1084:
395:
How Much Is That in Real Money? A Historical Price Index for Use as a Deflator of Money Values in the Economy of the United States: Addenda et Corrigenda
147:
The conference resulted in a request from those nations of Europe that participated in the deliberations of the committee, which did not include the
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How Much Is That in Real Money? A Historical Price Index for Use as a Deflator of Money Values in the Economy of the United States
204:
those countries themselves will take in order to give a proper effect to whatever actions might be undertaken by this Government.
342:(IBRD), while the majority (US$ 19.3 billion (263 billion in 2024)) would be requested from the United States of America.
255:
On 22 June 1947, in order to be prepared for the official response to Marshall's speech by the countries of Europe, President
924:
422:
402:
260:
259:
established three committees to study the aspects of the aid program and its impact on the American economy, namely the
136:. The committee, consisting of representatives from 16 European nations, met from 12 July to 22 September 1947 in
128:(CEEC) was a joint European conference to determine the priorities for the recovery of the European economy after
298:
82:
192:
184:
907:
151:
and her satellite states, for a total of US$ 22.4 billion (306 billion in 2024) over a four-year period.
1004:
999:
836:
819:
309:, referencing its 16 participant nations, and was chaired by the British Foreign Secretary, Ernest Bevins.
820:"Committee of European Economic Co-operation. Volume 1, General report : Paris, September 21, 1947"
264:
453:"Machinery for Rebuilding the European Economy: II. The Organization for European Economic Cooperation"
505:
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272:
837:"Committee of European Economic Co-operation. Volume 2, General report : Paris, October 1947"
959:
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268:
240:
188:
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413:
393:
230:
On 14 June 1947, the French Foreign Minister, George Bidault, invited his British counterpart,
472:
943:
893:. Archives historiques des Communautés européennes, Florence, Villa Il Poggiolo. Dépôts, DEP
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The first reaction by the Soviet Union was delivered on 15 June 1947 in an editorial in
1089:
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133:
234:, to Paris to discuss the proposal by the United States. Reports indicated that the
891:"Draft plan for the establishment of a Cooperation Committee (Paris, 13 July 1947)"
314:
235:
231:
196:
148:
129:
947:
468:
929:. Ithaca, New York: Governmental Affairs Institute, Cornell University Press.
476:
297:
The discussions on the details of the Marshall Plan (officially called the
1005:
Volume II of the report of the Committee of European Economic Co-operation
1000:
Volume I of the report of the Committee of European Economic Co-operation
543:
541:
539:
537:
535:
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195:, where he proposed a plan to aid European recovery after the events of
955:
285:
141:
994:
839:. Dept. of State, Division of Publications, Office of Public Affairs
822:. Dept. of State, Division of Publications, Office of Public Affairs
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reports by technical sub-committees, was delivered in October 1947.
651:
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137:
113:
54:
971:
Staff of the Committee and the Department of State (Ed.) (1950).
871:"Chronology of the Marshall Plan June 5 1947 to November 5 1947"
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ambassador to the Soviet Union met with Soviet Foreign Minister
510:
Staff of the Committee and the Department of State (Ed.) 1950
547:
973:"Address given by George Marshall (Harvard, 5 June 1947)"
908:"Organisation for Economic Co-operation and Development"
271:, and the Harriman Committee, named after its chairman,
263:, also called the Nourse Committee after its chairman,
327:
Organisation for Economic Co-operation and Development
157:
Organisation for Economic Co-operation and Development
975:. United States of America Government Printing Office
854:"The Marshall Plan and the establishment of the OEEC"
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International Bank for Reconstruction and Development
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24:
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267:, the Krug Committee, named after its chairman,
942:(1). Cambridge University Press: 158–62. 1948.
293:The Committee of European Economic Co-operation
1030:Aftermath of World War II in the United States
383:
381:
379:
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132:, and to assist in the administration of the
8:
19:
934:"Relief and Rehabilitation Organizations".
126:Committee of European Economic Co-operation
20:Committee of European Economic Co-operation
18:
742:
431:"Consumer Price Index (estimate) 1800–"
363:
778:
524:
226:British Foreign Secretary Ernest Bevin
1035:Cold War history of the United States
802:
790:
766:
706:
429:Federal Reserve Bank of Minneapolis.
7:
1070:International economic organizations
718:
682:
494:
1040:Economic development organizations
14:
1085:Organizations established in 1947
926:The Marshall Plan and Its Meaning
1065:United States–European relations
1050:1948 in international relations
548:International Organization 1948
1075:History of international trade
16:1947 joint European conference
1:
1045:Presidency of Harry S. Truman
995:George C. Marshall Foundation
1080:Organizations based in Paris
923:Price, Harry Bayard (1955).
869:Marshall Foundation (1947).
423:American Antiquarian Society
403:American Antiquarian Society
261:Council of Economic Advisers
1106:
1055:Economic history of Europe
936:International Organization
457:International Organization
451:Lintott, H. J. B. (1949).
251:United States preparations
1025:1950s in economic history
1020:1940s in economic history
948:10.1017/s0020818300019494
469:10.1017/S0020818300020609
299:European Recovery Program
83:Governmental organization
1060:1947 in economic history
876:. marshallfoundation.org
755:Marshall Foundation 1947
731:Marshall Foundation 1947
695:Marshall Foundation 1947
668:Marshall Foundation 1947
656:Marshall Foundation 1947
641:Marshall Foundation 1947
626:Marshall Foundation 1947
614:Marshall Foundation 1947
602:Marshall Foundation 1947
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578:Marshall Foundation 1947
563:Marshall Foundation 1947
193:Cambridge, Massachusetts
185:United States of America
64:September 22, 1947
346:United States response
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215:
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66:; 76 years ago
38:; 77 years ago
697:, pp. 15–16, 19.
307:Conference of Sixteen
279:Soviet Union reaction
265:Edwin Griswold Nourse
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187:, gave an address at
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92:Economic Co-operation
273:W. Averell Harriman
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269:Julius Albert Krug
241:Vyacheslav Molotov
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189:Harvard University
181:Secretary of State
177:George C. Marshall
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171:George C. Marshall
36:July 12, 1947
793:, pp. 43–44.
733:, pp. 26–27.
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218:European reaction
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658:, p. 9.
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565:, p. 7.
527:, p. v.
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434:. Retrieved
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315:Molotov Plan
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101:Quai d'Orsay
97:Headquarters
25:Abbreviation
779:CEEC-I 1947
525:CEEC-I 1947
407:1700–1799:
387:1634–1699:
1014:Categories
910:. OECD.org
812:References
803:Price 1955
791:Price 1955
767:Price 1955
707:Price 1955
163:Background
71:1947-09-22
51:Founded at
43:1947-07-12
964:249413009
856:. CVCE.eu
719:OCDE 1947
683:OECD 2016
495:CVCE 2016
477:1531-5088
61:Dissolved
33:Formation
979:13 March
914:11 March
897:13 March
880:11 March
860:11 March
843:15 March
826:11 March
412:(1992).
392:(1997).
329:(OECD).
159:(OECD).
107:Location
956:2704222
183:of the
89:Purpose
69: (
41: (
962:
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475:
355:1949.
286:Pravda
142:France
960:S2CID
952:JSTOR
874:(PDF)
419:(PDF)
399:(PDF)
359:Notes
138:Paris
114:Paris
55:Paris
1090:OECD
981:2016
916:2016
899:2016
882:2016
862:2016
845:2016
828:2016
473:ISSN
438:2024
124:The
79:Type
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465:doi
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191:in
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