Question

What meas Marshall Plan'? How did it pave
the way for the formation of OEEC organisation of Europe coorporation ?​

Answer 1

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Meaning of MARSHALL PLAN --

In June 1947, The AMERICAN SECRETARY OF STATE GEORGE C. MARSHALL announced the European Recovery Programme that offered financial assistance to 16 countries to EUROPE to rebuild their economies. It was done to revive the economies of Europe with a view to open up prime markets.

The way for the formation of OEEC --

Under the MARSHALL PLAN, the Organisation for European Economic Cooperation ( OEEC ) was established in 1948 to channel aid to the West European States. It became a forum where where the Western European States began to cooperate on trade and economic issues. Though George C. Marshall offered his plan to the East European countries, their regions were incapable of taking any decision by themselves. The Soviet Union denounced the Marshall Plan as dollar imperialism and prevented the fund from flowing towards East Europe.

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