What was good for Germany in 1953 is good for Greece in 2015

“‘The Marshall plan had an outer shell, the European recovery programme, and an inner core, the economic reconstruction of Europe on the basis of debt forgiveness to and trade integration with Germany. The effects of its implementation were huge. While western Europe in the 1950s struggled with debt/GDP ratios close to 200%, the new West German state enjoyed debt/GDP ratios of less than 20%. This and its forced re-entry into Europe’s markets was Germany’s true benefit from the Marshall plan.’

In the days to come, the Greek prime minister, Alexis Tsipras, will be arguing that was good for Germany in 1953 would be good for Greece in 2015.”



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