Word: europeanization
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Dates: during 1940-1949
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...French Foreign Ministry in Paris last week, the delegates of 16 Western European nations, headed by Britain's Ernest Bevin, put their signatures to a document embodying their ideas on what the Marshall Plan should be. The document was promptly transmitted to Washington...
...Europe's condition was desperate. Britain's liberal Manchester Guardian, for one, recognized the urgent fact: "There is at best a bare chance of saving Europe. ... It is the American public with whom the next move lies. . . . Reassurance could work wonders in the despondent state of the European mind. . . . Never before has one nation carried a greater responsibility for the fate of others in time of peace...
Secondly, Europe must be made financially stable. Then inflation would end, prices would come down, black markets would disappear and people would stop hoarding food. When confidence in currency was restored, European capital would stay at home instead of flying nervously abroad. To establish confidence, European governments want $3 billion in dollars and gold from...
...With European industry and agriculture laid waste, not only is self-sufficiency in food impossible, but the industrial goods needed to pay for food imports cannot be forthcoming for several years. Political considerations spurred by rampant socialism, and complimented by humanitarian qualms, have goaded America into sending aid without repayment in goods. As food and goods are siphoned out of our economy, incomes and savings continue to mount, further fortifying the already healthy inflationary infant...
...question whether there is any single corrective or punitive measure to be taken to halt inflation now. Unfortunately, there seems to be no simple answer, no resolvable black or white dilemma, no precedent in the past; only unpleasant alternatives for a general policy which pose troublesome questions. Would ending European aid to check internal inflation be worth the political, economic, and moral risks Could controls he restored without black markets, or taxes raised without lost elections; or are voluntary cuts the practical answer Because inflation is no longer a symptom of prosperity but a portent of danger, Americans, in forming...