Word: erhards
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...enough Deutsche Mark to make a major dent in the increasing deficit (an estimated $4 billion for 1960) in the U.S.'s international balance of payments. Brushing aside the cautionary briefings of U.S. diplomats on the spot, Anderson confronted West German Chancellor Konrad Adenauer and Economics Minister Ludwig Erhard with a peremptory demand that Bonn take over at once the $600 million annual cost of maintaining the 250,000 U.S. troops currently stationed in West Germany...
With a single-mindedness so intense that one participant described it as "ferocity," Anderson brushed aside the promising beginnings of the new billion-dollar German foreign-aid program (TIME, Nov. 28). Foreign aid, he told Adenauer and Erhard, was "not urgent"; what the U.S. needed was cash, and it needed it faster than any foreign-aid program could deliver. Anderson followed this up with further demands that Germany 1) start paying immediately a good part of the U.S.'s present share (37%) of the cost of jointly run NATO facilities such as pipelines, depots, etc.; 2) start easing immediately...
...Germans certainly needed jacking up-in a way that would shame them into anteing up, or at least shame them. On the second day of the talks. Erhard stonily declared that the Germans could not agree to pay for U.S. troop support. But after a series of mealy-mouthed pleas about the "illusory" state of Germany's present wealth, Erhard began to give some ground. His government, he said, was ready to re-examine the idea of joining with all other NATO members in some device through which Germany could contribute to paying such NATO costs (perhaps...
...federal government's own customary budget surplus. Still another source: sale to the public of $125 million in shares in the Government-owned Volkswagen works, whose sales abroad have made a mighty contribution to West Germany's foreign exchange hoard. The new aid, announced Economics Minister Ludwig Erhard, would be offered to underdeveloped countries at low interest and over a long term; unlike past German pinch-pfennig credits, it will not be "tied," i.e., need not be spent exclusively for German exports...
...problem increasingly critical. The disproportionate U.S. contribution to Western defense and foreign aid is a major part of the gold exodus that has lowered U.S. bullion reserves from $24 billion in 1948 to $18.5 billion today. In September, U.S. officials spoke bluntly to Bonn's visiting Economics Minister Ludwig Erhard. But the real holdout appears to be Chancellor Konrad Adenauer. President Eisenhower himself has private- ly written Adenauer asking for more German help. Later this month, both Secretary of the Treasury Robert Anderson and Under Secretary of State Douglas Dillon will travel to Bonn to put the case...