The Marshall Plan

By Landon Pasana

  • Start of World War II

    the beginning of economic downfall

  • End of World War II

  • CEEC estimates costs of ERP

    The CEEC submits its report estimating needs and the cost of the European Recovery Program (ERP) over four years. It provides for the establishment of the Organization for European Economic Cooperation (OEEC) to coordinate the program from the European side.

  • Harry Truman creates the Truman Doctrine

    Truman was attempting to solve Eastern Europe's instability while making sure that communism would not spread to nations like Greece and Turkey.

  • The Marshall Plan is born

  • The CEEC meets in Paris

    The Conference of European Economic Cooperation, which became the Committee of European Economic Cooperation (CEEC), meets in Paris. The Soviet Union declines to attend and pressures Czechoslovakia, Poland, and Hungary into staying away.

  • Economic Cooperation Act was passed

  • ERP funding begins

  • ERP Fundings end

    The ERP ends six months early because of the escalation of the Korean War, which had begun in June 1950. Transfer of funds from the U. S. to Europe had totaled $13.3 billion.

  • Willy Brandt thanks the U.S.

    In a speech at the Harvard commencement, West German chancellor Willy Brandt announces creation of the German Marshall Fund to thank the U.S. for its assistance.